Hired the wrong person again?
August 15, 2019
Hired the wrong person again? One of the most important decisions organisations make is who to appoint as a manager. Currently there are 30 CEOs in jail in the US and many leaders, CEOs and MDs “fail and derail”, they cause mayhem, people leave and companies close.
For example, see how a newly appointed CEO costs their organisation $120000 early in their tenure due to workplace bullying. As reported in the Sydney Morning Herald on 31.12.17:
“Hawkesbury Race Club was ordered to pay more than $120,000 to a former employee after a tribunal found she was bullied and harassed by her boss, leaving her with a psychological injury. The employee had worked for the horse racing club for more than 25 years when a new CEO started in May 2016. Within five months, she had become so distressed she had a breakdown and was diagnosed by multiple doctors to have a major depressive disorder.”
“In November, the Workers Compensation Commission heard the employee was intimidated, excluded and micro-managed by the CEO, who told her at a meeting: “You are not an employee or a contractor. You are a nothing.”
The quality of the manager accounts for a spectacular 70% of variance in engagement scores of work groups – the single biggest factor driving staff engagement. And in terms of performance impact, good managers account for 48% higher profitability to their organisations compared to average managers.
The benefits of avoiding one or more mis-hires cannot be over-stated. Aside from saving money by reducing the frequency at which you recruit, you also increase productivity and profits by improving the quality of your staff.
The good news is that mis-hires can be avoided; recruitment doesn’t have to be a “hit and miss” affair. It isn’t a difficult problem to fix and it might not be any more time consuming than your current method; but it does take an open-mind, some self-discipline, and some money, albeit a fraction of the cost of a mis-hire.
If you would like to learn how to avoid a mis-hire and select good staff and keep them, please contact Fermion.