3 Factors in Finding the Best Employees

3 Factors in Finding the Best Employees

Turnover — an often overlooked cost of doing business — can be as high as 33% of an employee’s annual salary, according to a recent Work Institute report. One way to reduce this cost is to focus on preventing turnover right from the start by finding the candidates best suited for your business. If you haven’t already, consider the following key factors as you hone your hiring process:

1. Know what qualities to look for in an employee. Before you publish a job announcement or talk to potential candidates, consider the type of employee that would fit best with your company. This may involve clarifying the types of qualities that fit your firm’s culture, as well as skills that are specific to the position being filled.
   For example, if the business prides itself on quick turnarounds, candidates who have proven they’ve consistently hit short deadlines are ideal. The same goes with interpersonal skills like communication styles.
2. Search in the right places. Once you’re clear about the type of employee you’re hoping to hire, focus on discovering the best candidates in the appropriate places and drawing them to your company. Depending on who you’re looking for, this might involve placing advertisements in local print media, networking with local colleges and technical schools, or asking for recommendations from your current employees. In general, the more specific the skills you hope to find, the wider the net you’ll need to cast.
3. Ask meaningful interview questions. Potential candidates are often counseled to conduct mock interviews. Wise employers will hone their interviewing skills, too. This means asking focused questions and listening with a purpose. A good interviewer will attempt to identify “red flags” that may indicate potential problems. For example, the candidate may provide vague or rambling answers to simple questions. This may indicate normal interview anxiety, or he or she may be hiding important facts from you — information that could directly affect your hiring decision.

Finding quality employees is not an exact science. But thoughtful preparation and careful interviewing can pay dividends for years to come.

As always, should you have any questions or concerns regarding your tax situation please feel free to contact us.

As always, we hope you find our tips and news for businesses valuable, and look forward to receiving your feedback. Companies focused on growth have sought the help of Insero & Co. for more than 40 years. During that time they have consistently experienced the peace of mind that comes from knowing their CPA firm takes the concept of integrity seriously. Should you have any questions, please contact us directly.