Perry Maddox explores the high cost of failed hires and shares how that insight can help candidates shine in the selection process.
Why didn’t I see it coming?
We hired a senior role several years ago, with the top candidate coming from a large organisation in our sector.
The move made sense for her, offering more autonomy, more opportunity to create impact and a quicker route into senior leadership.
Early on, red flags appeared. Despite us making clear that we don’t negotiate salaries, she forcefully tried to negotiate her salary. Next, she delayed her agreed start date. Then, only months into her new role, she applied for an even more senior role internally. Still, we stuck with her.
A few months later she quit, leaving real damage behind.
The Crippling Cost of Failed Hires.
Add it up.
We sunk years into that failed candidate. Three months to recruit her, 3 more waiting for her to start, and then 6 of on-boarding and support. Only to start over again. Two years in, we finally had someone performing well in that role.
Two years of wasted time, wasted salary, and wasted support. Not to mention the impact we didn’t create from that role.
Like most charities we don’t carry extra staffing, so failed hires are killer. It’s not just charities who suffer, though. The true cost of a failed hire can run 3-4 times the salary, plus the harm to team morale and to others’ workloads.
Here’s where it gets scary. It has been observed that 50% of new hires fail, including 40% of new CEOs.
Put it together: that’s a high rate of failure and a high cost of failure. Failed hires are brutal, and hiring managers are keenly aware of this risk.
Afraid, even.
Understand Their Fears to Improve your Interview Performance.
Understanding a hiring manager’s fears will help you to be a better candidate. The kind that they can trust.
Start with these 3 F’s – failure, flight and fit – that really scare them.
- Failure. The fear that you won’t do the job. A quick google search suggests that 50% to 90% of people lie on their resume or CV. Don’t lie, leaders. Instead, give recruiters confidence that you will succeed. Experience and evidence matter more than words. Show them a proven track record of success, backed up with good examples, relevant figures and strong references to corroborate your impact. Above all, demonstrate how well you learn, adapt and perform in new settings. Some call this cognitive agility. I call it confidence that a candidate will deliver for us.
- Flight. Know that interview question that asks how this job fits with your career journey? Of course they want to hear about your past, but the clever ones are also weighing up how long you’ll stay. With up to two-thirds of new employees searching for a job within 3 months of being hired, flight risk is huge. So make them confident you’ll stay. Don’t be afraid to be direct. If it’s true, tell them you’re looking to stay in this role for some time, that you want to grow with this organisation over time, or that you’re looking to put down roots. Meanwhile, avoid red flags. I’ve had candidates explain their plan to become a consultant within two years. During an interview. Why would I invest into someone planning to leave before they’ve begun?
- Fit. Be very careful here. Judging candidates on culture “fit” risks serious subjectivity, bias and discrimination. Yet, the top reasons for failed hires are attitudinal issues like coachability, motivation, emotional intelligence and temperament, not technical skills. So, demonstrate these soft skills that will help you adapt and thrive. Again, remember to show and not just tell, evidencing how these skills enabled your track record of success. Finally, show that you understand their culture and values. Anticipate challenges you may face as a joiner and demonstrate that you’ll successfully adapt. If you’re an internal candidate, evoke the confidence they should have in you as an already proven fit.
You’re No Failed Hire. You’re Here to Soothe Their Fears.
Like any part of a getting a job, this takes some work.
The failure fear should be easy to address. If not, don’t apply. Flight too, assuming you’ve done some thinking about your career journey. Fit is trickier, so spend time getting under their skin before you interview.
Once you’ve identified what they’re all about, take a look in the mirror. Do you really want to join this culture and team?
If so, show the hiring manager that they have nothing to fear.
