By now you know that a bad hire is also bad for business. When it’s all said and done, a bad hire can cost your small business at least $25,000, according to Career Builder. After, you’re left once more with an open spot to fill, costing you more time, money and resources.
But once you’ve discovered you’ve made a small business hiring mistake, is it time to fold all of your cards, count your losses and let them go? Not necessarily. There are a few ways to help your bad hire become a great employee.
1. Invest in training. Many new hires, whether they’ve graduated with a college degree or seem to have all of the qualifications, still need a certain degree of training or job preparation. They need to understand the systems, procedures and dynamic of your workplace and team. With that, you need to recognize that you’re not just bringing someone in to fill an empty seat.
You need to invest in new hires, and treat them as if they’ll be lifetime employees from the day they first set foot in your office. To them, this will signify opportunity, growth and ultimately, confidence in their job. The better they feel in their position, the more they’re likely to perform to your standards.
2. Create a mentor program. You can’t expect every employee to be functioning at the same level. That’s why it makes sense to have older employees mentor the new hires, providing them with the job preparation they need to be successful in that particular workplace. These are people that know the ropes, have seen the business through ups and downs and can offer advice on professional growth and career paths.
This mentoring partnership, though, is a two-way street. Believe it or not, your long-time employees can learn a thing of two from new hires. Making new hires feel valuable through their contributions and input can, once again, push them to greater performance.
3. Find a new position. If your attempts at training and mentoring don’t seem to yield any fruit with the new hire, don’t count them as a total loss. Think about your organization as a whole and determine whether or not they might be a better fit in a different position. With this mindset, you’re not wasting any of that hard-earned money; you’re just reallocating it.
With a little help and guidance in job preparation, most bad hires can be transformed into great employees. Just remember that it’s worth investing in these employees – and your business – before giving up on them entirely.
What did you do when you discovered you made a bad hire mistake? Share your experience in the comments below.