Your business is as successful as your endeavors to find the most suitable employees. To the outside world, your organization is what your employees represent in the market. From the security person greeting at the company’s gate to the chief executive officer sitting in their comfortable office, each of them represents a facet of your business to all your internal and external stakeholders. So finding the right employees is crucial if you want to beat the competition and meet the targets.
Hiring the wrong employees means a considerable wastage of time in hiring, training, and finally working with them. You can save up to seventy percent of your time if you avoid hiring the wrong person. Hiring the wrong person means you cannot fully concentrate on your business activities because such people don’t work and let others work in peace. Hence implicating the overall performance of a department or team.
Apart from a wrong impression on your business, hiring an unsuitable person is extremely costly too. All the recruitment, selection, hiring, training, and development activities require a lot of company funds. Leaving the company means wasting the money that went into recruiting them.
Hiring for a startup
Keep the above-mentioned implications in mind and imagine hiring the wrong person for a startup that is already testing waters in the market, have budget constraints targets to meet to fulfill the expenditures, and keep itself afloat. Hiring the wrong employee for a startup is much more costly than an established business already having solid roots in the market. For these reasons, the companies are taking the help of professional recruiters like WeEngage Group and more, trained to find the right talent based on your requirements. New startups might need to use these services even more to avoid the cost and, more importantly, find the most dedicated employees.
Hiring the right employees is as important as having the right product or service. Choosing the wrong product for the market and putting all your bets onto it can destroy your dream of becoming the next most successful entrepreneur; the same goes for hiring the wrong candidate. In this case, your product or idea is right, but the person you chose to help you make it a reality is a grave mistake. Some more reasons reinforcing the criticality of finding the right employees include the following.
May interfere in the achievement of your goals
There is nothing like a startup; it is still energetic and filled to the brim with the anticipation and excitement of achieving its goals. For a new business, the idea is everything; it is the most important resource that they can capitalize on for success. A good hire will help you stick to that idea and make it a reality. But the wrong hire will leave no stone unturned to tell you why you cannot succeed.
Sharing the vision does not mean being interested in the same things as you do, but at least they should be able to get the final goal of your business and share the same enthusiasm. Make sure they are passionate about becoming a part of your new business. If you hire a candidate who does not understand the struggles of startup and considers it mere fulfillment of the duty cannot help you amplify your efforts to meet your goals. On the contrary, a person who has the vision to help you succeed, a fire to accompany you and enter the new market and meet the competition heads on, can help you reach your anticipated targets.
Increase turnover and subsequent costs
Turnover can be really costly for any business, but the impact can become more crucial for a new startup. The company at its inception is not strong enough to bear the shock of people leaving it. It could be due to you firing them or them leaving the job after working for some time and creating enough problems for your business—the candidate is a bad experience in both conditions. The wasted payroll and the lost sales due to the disinterested attitude of the employee is a death blow for the business. On the contrary, hiring the right candidate from the beginning means creating an atmosphere where all employees can work together and produce a result for your business more significant than the sum of each effort.
Reduced morale and team performance
When people see others leaving the organization for any reason, it is not good for the overall morale of your team. A new business works with teams as they may not have developed individual departments as in big business. So, people from all departments might be working as a collective team. When one member leaves, it creates a vacuum in its place that can impact the performance of the remaining team members as everyone represents an important piece of a puzzle.
If you bring in the right employees, the resultant teams will develop a distinct culture of your organization that can go on for the time to come. The foundations set by the teams in the initial days of a business become its legacy that people coming in the subsequent years adhere to. However, the negative can be assumed when you fail to choose the right members to develop your team. They don’t set the right precedence for upcoming employees. Your employees may start thinking that it is okay to quit the job whenever they like or be underperformers.
Conclusion
Unlike any other business, a startup is in its most risky phase. Every penny saved is a big achievement, and each penny earned is a step in the right direction. Having the right human resource team is essential to make the challenging road to success a little smoother. On the contrary, wrong choices of personnel are a cost in the form of both lost time and effort.
