9 Reasons Why You Should Invest Heavily and Early in Hiring
Hiring is one of the most challenging, but important aspects of running a business. A job-well-done takes significant time, thought, and energy. It pays large dividends, though, to have a strong recruitment process. That’s why it’s important to Invest heavily and early in hiring.
The best companies are able to excel because of their workforce. No matter how strong the founders or people at the top of the organizational ladder, in order to grow, you will have to find more employees.
Consequently, more people will be given important responsibilities. When they are unable to handle them, the success of the business is at stake. That makes an effective hiring process is an absolute must for every company. It is even more vital for those that are growing. Plus, there are a host of positive trickle-down effects that come with strong employee recruitment.
Here are nine reasons for why to invest heavily and early in hiring:
1. You will find the best people to help you succeed.
The most obvious reason to put effort into hiring is so that you can find the best employees.
Within any company, having a team that can handle important responsibilities and succeed in their roles will lead to success. Whether you are a workforce of five or 500, high-quality employees will put out high-quality work. They will build better products, create more robust processes, sell/market more, and maintain better customer relationship; all staples of a successful business.
2. It will ultimately take work off of your plate.
Working with great people makes your life easier.
Although it can take significant time and energy upfront, which you may feel like you do not have, it will pay off. Instead of having to micromanage those below you or take on the extra work for yourself, you will be able to trust your employees.
This faith will free up stress, time and energy so that you can put more effort into what you, personally, have to focus on.
3. You will be more likely to pull in the best.
A strong hiring process will not only help you find the best people, but also attract them to your company.
A-team players are likely going to have many options. They will make their choice based on a variety of factors. One of the largest is how the hiring processes are at the companies they recruit with. If they feel cared for and can get behind your company mission throughout the process, they will be much more likely to take your offer over another company’s.
It does not matter how many applicants you get if the best ones end up taking other offers because they do not want to work for you. A good process will paint your company in the right light, which will convince more people to join your ranks.
4. You will prepare yourself for massive growth if needed.
Every successful company faces a time when they need to expand quickly. They need to hire many people to take on all of the newly created important and necessary work at hand.
Investing in your hiring process early on will prepare you for this time of growth when it comes. You will have the right systems and processes in place to find employees, get them through the process, and convince them to join you.
5. It will make you evaluate your company values.
Through the craziness of running a business, values are often overlooked. Putting time into the hiring process, though, will force you to evaluate them. You will have to learn how to pitch your company to potential employees.
A large part of doing so involves describing what your company has to offer. That means looking internally and considering your company values. Why are you doing the work you are doing? What type of people do you want at your company? What matters to you?
These are important questions to ask. You, personally, might already have the answers, but your employees will often not. Thinking about these questions will help you create a company that embodies the values you want to see.
6. You will learn to create a better employee experience.
In the same vein, investing in your hiring process will force you to consider your employees’ experience. People are interested in the benefits and lifestyle that come from working at your company.
Consequently, by creating a robust hiring process, you will have to pitch your perks and benefits. This will urge you, once again, to look internally. You will have to find ways to make new, but also existing, employees happy.
As you bring in new hires to your business, it can be very detrimental to lose old ones. By considering employee benefits and lifestyles, you will keep everyone happy and reduce the hiring you might have to do in the future to replace anyone who quits.
7. There will be fewer bad hires.
A poor process will, inevitably, lead to greater turnover.
You will be more likely to hire bad people, either because they are not competent enough, or because they are not the right culture fit. Then, you will have to go back to the drawing board and recruit even more.
With investment in your hiring process, on the contrary, you will be bringing in a higher percentage of employees that are likely to stick around and excel. You will create ways to find the right people, and it will go on to save you significant effort and stress down the road.
8. It will improve your brand reputation.
A strong hiring process pays large dividends for your brand.
First off, it gets your business in front of more people. You will be forced to find the best channels to recruit, and, consequently, more people will know who you are. This could, tangentially, lead to more sales and greater awareness.
Secondly, a strong process will create better sentiments towards your company. There are many businesses that do not handle prospective hires with much respect. They take too long to respond, are not transparent through the process, and leave people with a bad taste in their mouth.
This is a big problem. People will spread the word about their bad experience, which will hurt recruiting down the road. Plus, people that you turn down now might be a great fit for your company in a few years. If you have a transparent and seamless process, they will be more likely to come back for a job in the future. Otherwise, when they are ready for expanded roles, they will not even consider your business.
9. You will join the ranks of other elite companies.
The best companies have strong hiring processes. It makes sense. They need the best people to fulfill their missions and help them grow.
Invest heavily and early in hiring to help you join their ranks from the beginning. Strong hiring demonstrates a sense of professionalism and competency that others can see. Your company will be considered among the best, and that can pay dividends with respect to receiving investment, making sales and, of course, finding the best people.