For Employers Only: It’s About You, No Matter What.

Posted by Bernie Reifkind on November 8, 2010

If you’re a candidate, this article is not for you (or did you not read the title?)  If you’re an employer the following information is critical to your success. 

There is only one reason why you should ever hire anyone: profit.  If you think any differently, than go watch Dr. Phil or waste your time surfing the web, just like your employees are doing when you’re not keeping an eye on them.

It’s all about profit.  Period.

Do not hire anyone unless you profit from it economically.  Never forget that you are in business to make a profit or at least to stay in business.

Moreover, any hire should benefit you and you only.  Even if you work for the largest company on earth, if you are the boss and you need to hire than your only motive should be to profit.  Profit keeps you in business or it keeps you your job

So really, it’s about you, no matter what.

Unless your game is charity why on earth would you settle on hiring someone that did not benefit you?  In addition, why not hire the very best? Remember: profit.

The accepted estimate for the cost of a bad hire is 1.5 to 3.5 times the salary of the job in question, after all costs are factored in. These costs can include, among other things:

  • Interview time
  • Reference checking time
  • Manager training time
  • Lost profit margins
  • Potential customer problems
  • Staff problems with low morale and/or having to replace an employee in the middle of an assignment

Even if it takes a while to find the right fit, hiring the wrong person can cost you in ways that are exponential.  Contact a healthcare recruiter and you’ll end up saving time and energy.

When you do find the right person, let others be involved in the interview process.  Even subordinates can be part of the interview process.  After all, they’re obviously going to work with each other.

After you have done all of your “due diligence” and you can feel it in your heart that hiring someone can benefit you, than pull the trigger.  Don’t waste anymore time.

As you’ve read in a previous article by this author: time kills all deals.

Any questions or comments? I am Bernie Reifkind, CEO and founder of Premier Search, Inc.  I can be reached at 1(800) 801-1400 or email at ceo@psihealth.com

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