James Collins It is important to be aware of the key traps to avoid when you consider the cost of recruitment and the expenses associated with making a new hire.

Recruiting people like you
This is one of the main mistakes made by interviewers. Not only do they go beyond impartial decision making, they also actively objectify their own personality onto the prospective employee, e.g., “He reminds me of myself...” This is a bad habit to fall into as the whole point of the interview and having a variety of candidates is to be truly objective.

Who you know
What do you do when faced with a new hiring decision? Generally people turn to who or what they know – past acquaintances, friends or family. There is unquestionably some advantage in “knowing what you are getting.” However, there is also no assurance of success. What’s more, it can curb your own objective judgement.

Striving for a perfect match to a job specification
When hiring, focus on looking for someone who matches 80% of the job specification. You will often find more loyalty and engagement with recruits who can develop by 20% in the initial few years of the position in the company. Then you can challenge them to work to a greater standard. Ensure they meet all the compulsory requirements (the 80%) and assess what more they can bring to your company but also what you can give to the employee.

The success of an employee is as much down to the company as the person and how they encourage talent. A well executed and impartial interview process ensures you start with the right experience, qualifications, characteristics and someone who can thrive and work well in your work place.

Article written by James Collin, Financial Services Recruiter, Cobalt