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Emma Greedy

Emma Greedy



View articles · Email Emma

18 February 2021 · News
Recruitment


BUSINESSES PAYING THE FINANCIAL CONSEQUENCES OF BAD HIRING


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The cost of a bad hire is estimated to be three times higher than the salary
paid, demonstrating the responsibility for HR of getting hiring right.

A new study by the Recruitment & Employment Confederation (REC) has found across
the UK, poor recruitment strategies are costing businesses productivity and
impeding a vital COVID-19 recovery boost to the economy.

The Recruitment and Recovery study said that seeking expertise from recruitment
and staffing firms could increase UK productivity by £7.7 billion if they
effectively put the right people into the right jobs.

Getting recruitment right therefore has the potential to be a huge driver of
recovery yet only only half of Britons (52%) said that companies in the UK are
recruiting efficiently.

HR teams therefore need to work hard to make sure the recruitment process
delivers productive and engaged staff.

COVID-19 has altered recruitment patterns over the past year, with one in four
(28%) large businesses now likely to explore hiring people who do not live close
to the office in the future.

Mark Hendy, founder of HR consultancy Hendy HR, said that the collaborative
partnership between HR and recruiters has never been more important, due to the
uncertainty COVID-19 has created.

Speaking to HR magazine, he said: “There is a common goal and interest between
all stakeholders in this process, HR, the recruiter and the new recruit
themselves.

“That goal is to be assessed, selected and onboarded in a professional and
positive way that establishes and strengthens the psychological contract at
play.”

Hendy added that if HR and recruiters continue to follow good, moral and ethical
recruitment practices, they will find the productive staff they need.

“If HR and recruiters are transparent and honest in their dealings with the
candidate, and support the new employee into the business, they will feel
welcomed, comfortable and effective from the get go,” he said.

However, half of small businesses (50%) said that increasing the diversity of
their workforce was not a priority. Just 20% of businesses overall made sure to
use diverse panels and 26% anonymised CVs.

The REC also advised employers to draft a plan for supporting workers beyond
their initial employment to help them progress.

--------------------------------------------------------------------------------

Further reading

Data in hiring: The recruitment revolution

Levelling the playing field

Is it time to re-think the recruitment process?

--------------------------------------------------------------------------------

It also recommended that HR make use of recruitment agencies to help develop and
improve internal processes for training and progression.

Neil Carberry, chief executive of the REC, said: “With company and worker needs
changing, and the country moving towards recovery from COVID-19, getting
recruitment right will play a vital role in boosting the economy.

“We’re calling on the government to work with the REC on the Plan for Jobs,
ensuring that all forms of employment are considered in government thinking, so
families all over the country can feel the benefit that good recruitment
brings.”

The REC commissioned independent consultancy Public First to measure the
recruitment industry’s economic and social impact by launching asking the views
of 2,000 adults in Britain, alongside 500 businesses and 11 REC members.







FURTHER READING

Talent


FIRMS FAILING TO MAKE THE RIGHT HIRE FOR TWO OUT OF FIVE ROLES

News
Boardroom


BUSINESS HIRING CONFIDENCE RECOVERED IN EARLY DECEMBER

News
Recruitment


BAD HIRING PRACTICES ARE HINDERING RECRUITMENT

Comment
Learning and development


CIPD REVEALS POSITIVE OUTLOOK FOR POST-COVID HIRING

News
Recruitment


HIRING DEMAND INCREASES AS UNEMPLOYMENT RATES FALL

News
Recruitment


PSYCHOMETRIC TESTS COULD PREVENT COSTLY RECRUITMENT MISTAKES

News
Recruitment


HIRING RISE UNLIKELY TO OFFSET RISING UNEMPLOYMENT

News
Recruitment


BUSINESSES JUDGED BY RECRUITMENT PROCESSES

News

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