Hiring People That Will Stay
A couple of months ago, I talked about some key tips for making one of your first or second hires. I wanted to follow up with more advice on hiring for employees you want to stay with you for a long time, whether it’s your first or 10th employee.
It’s becoming tougher and tougher in today’s economic environment. By some accounts, company loyalty is waning with younger employees averaging only a couple of years before moving on.
What can you do? Here are some ideas:
- Don’t go cheap – If you pay below the market average, you’re likely to get below average performance. You also get off on the wrong foot right away by paying someone less than they may be worth. They’ll quickly realize this and look elsewhere.
- Interview, interview, interview – Don’t be afraid to interview as many people as you need to. Don’t just say you’re going to bring in three people and pick the best one. Interview until you find the right fit for your business.
- Learn from history – Does your candidate have a track record of moving to company to company in a year or less? Are you a small firm and they’ve spent most of their career at big companies? Chances are they’re going to repeat their history, so don’t bet on a long shot.
And finally, remember that your candidate is interviewing you, just like you’re interviewing them. Make a good impression, be engaged and show them the best of what you have to offer.
Michael Alter, payroll expert with an MBA from Harvard Business School, is a nationally recognized spokesperson providing thought-leadership and sensible advice to help accounting and payroll professionals build deeper more profitable relationships with clients. Alter, President of SurePayroll, writes the Trade Secrets column on INC.com and is frequently published in Bloomberg TV, the Wall Street Journal, and Entrepreneur Magazine.