Nearly one-third (29 per cent) of Canadian CFOs said the top factor leading to a failed hire, aside from performance issues, is a poor skills match, according to a survey released by Robert Half Finance & Accounting.
More than 270 CFOs were asked: "Aside from poor performance, which one of the following factors is most likely to lead to a failed hire?" Their responses:
•mismatched skill set (29 per cent)
•unclear performance expectations (23 per cent)
•personality conflicts (22 per cent)
•failure to fit into corporate culture (14 per cent)
•other (eight per cent)
•don't know (four per cent).
"Companies can't afford hiring mistakes, which are costly and can erode staff morale," said Max Messmer, chairman and CEO of Robert Half International. "Finding the right match requires time and attention and it's something even busy managers need to make time for."
Robert Half offered five tips for better hires:
Know what you want: Don't just recycle the job description used the last time to fill a position — chances are the role has changed. Take a fresh look at your needs and the skills you'd like to add to your team. A detailed job description will help reduce the number of resumés from unqualified applicants.
Look for the intangibles: A candidate's skill set is not limited to functional abilities — it also includes how well he works in a collaborative environment. Employers that don't take soft skills such as leadership and communication into account may set themselves up for a bad match.
Make a personal connection: Hiring is more than just identifying a strong resumé or profile, it involves having conversations with applicants to establish a rapport. Interviews, for example, allow you to delve deeper into an applicant's qualifications while also assessing whether she is a fit for your corporate culture.
Tap all your resources: Though you may have the final say, hiring should never be a solo effort. Take advantage of the tools available at your organization, such as HR helping with the job description or employees offering referrals.
Woo your top choices: In any economy, people in high-demand specialties commonly have multiple job offers. You will need to show them why they should choose your organization. Sell the benefits of working at your firm and offer a compensation package in line with or above market rates.
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