Secret #3 Hire slow, fire fast

If you’re striving to get the right people on the bus and hiring them based more on fit than skills, then it only makes sense to exercise patience during the recruiting and hiring process. Yes, it can be painful to leave a position unfilled for longer than you’d like, but the cost of a bad hire is usually not worth the misstep. Similarly, the longer you wait to let a bad hire go, the harder and more costly it becomes.

When in doubt, keep recruiting and interviewing. The true cost of a bad hire and its impact on an organization can be excessive. For instance, the overall cost of replacing a knowledge-worker after only 90 days on the job is typically estimated to be equal to 150% that employee’s annual salary.

Download the ALTRES white paper “HR Secrets for Hawaii Employers” for strategies on successfully hiring the right person.

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