Imagine a scenario where a high-paid executive is recruited, only to face termination within three months, along with a significant one-year severance package exceeding $230,000. This situation, reported in 2016, highlights the importance of strategic hiring practices.

Insights gleaned from an Oxford Economics study further underscore the costs associated with replacing staff members, which can surpass $40,000. These costs encompass diminished productivity during the onboarding of new hires and recruitment expenses.

To curtail these expenditures and reduce turnover, follow this concise checklist of actions to ensure optimal candidate selection:

Crafting an Effective Job Description

Write a comprehensive job description that accurately reflects the role’s responsibilities. I have an article that discusses more about writing a compelling job description. Check it out here.

Creating a Distinctive Job Advertisement

Formulate an enticing job advertisement that sets your company apart, particularly in competitive industries.

Soliciting Motivational Letters from Candidates

Request candidates to express their suitability for the role, showcasing their motivation and communication skills.

Building an Engaging Career Page

Construct a webpage that showcases your company as an attractive workplace through images, videos, and employee narratives.

Strategically Advertising the Job

Promote the position on suitable platforms, leveraging word-of-mouth referrals from various sources. You can learn more here.

Harnessing Online Search Tools

Utilize online tools to reach passive job seekers who might be interested in better opportunities.

Conducting Interviews with Reference Checks

Structure interviews to include questions that can be validated through conversations with former employers.

Implementing Assessments and Skill Testing

Utilize assessments and tests to more effectively evaluate top candidates.

Conducting In-depth Follow-up Interviews

Delve deeper into candidates’ suitability through comprehensive interviews and post-assessments.

Conducting Thorough Reference Checks

During reference checks, seek quantifiable performance indicators from candidates, which can be verified with previous supervisors.

By adhering to these crucial steps, you can elevate your hiring practices, minimize unnecessary expenses, and streamline your hiring process.

For enhanced efficacy, consider adding PXT Select™ to your hiring process. PXT Select offers a comprehensive hiring assessment tool designed to facilitate informed and objective hiring choices. 

With a range of assessments, it enables you to identify candidates who align with your company’s values and requirements.

Visit http://www.optimusperformance.ca/PXT_Select/ to learn more about how PXT Select can reshape your hiring strategy, conserving both time and resources.