Finding and Keeping Great Employees in a Hectic Industry

Bad Hires by the Numbers

Finding and Keeping Great Employees in a Hectic Industry

Chapter 1:

Your employees are your team. They wear your company name and represent its values and ethics, especially when you aren’t present. With so much at stake, the responsibility of finding the “right” team members can be daunting. As a business owner, you need people who not only represent your company well but also fit with your company culture, have good work ethic, and exhibit the technical skills required to do the job. In this 4 part series, “Finding and Keeping Great Employees in a Hectic Industry,” we refer to Michael Hinderliter a 30 year veteran in the power washing industry for expert advice on recruiting workers and best practice for keeping them for the long run.

 

With so much pressure to hire the “right” people, the whole process can be stressful.

Especially when considering that, according to Harvard Business Review, 80% of employee turnover is due to poor recruiting decisions. It can cost up to 30% of a salary when a new hire doesn’t work out. In addition to fiscal considerations, a high employee turnover rate can reduce the morale of current employees and lower productivity overall.

Infographic

Bad Hires by the Numbers

  • $17,000 - Average cost of a bad hire
  • 30% of a new hire’s salary is lost
  • 75% of employers have hired the wrong person
  • 40% of bosses report the wrong hire lowered staff morale

(Source: https://www.complyright.com/resources/infographics/hidden-cost-of-a-bad-hire)

Keep in mind, it IS stressful when a critical seat in your organization sits empty, but the #1 reason for a failed hire is a rush to fill the job. Few decisions are this important, don’t hurry through and make mistakes.

 

The challenge is finding and training employees to deliver the same quality of service you would personally deliver.

 

“Not being on every job site, watching every little detail about how the quality of the work, and then coming up with ways to follow up and control that process took a lot of time.” says Hinderliter. “But if I'd never done that,” he continues, “I would never have been able to step back and to grow the company.”

 

Now that you know why finding the right employees for your company is so important, stay tuned for our next chapter on how to find good candidates!

 

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