{"id":707,"date":"2020-05-29T07:04:12","date_gmt":"2020-05-29T07:04:12","guid":{"rendered":"https:\/\/recruitment.grabjobs.co\/?p=707"},"modified":"2022-02-21T05:19:48","modified_gmt":"2022-02-20T21:19:48","slug":"one-hiring-variable-that-determine-company-success","status":"publish","type":"post","link":"https:\/\/recruitment.grabjobs.co\/one-hiring-variable-that-determine-company-success\/","title":{"rendered":"The One Hiring Variable That Will Determine Your Company\u2019s Success"},"content":{"rendered":"\t\t
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HR isn\u2019t generally regarded as a revenue-generating part of the company. This falls to the Sales department. However, since each employee of the company is hired through the HR department, this begs the question: why haven\u2019t your HR processes been optimised and automated for better hiring results?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\u201cHire right, because the penalties of hiring wrong are huge.\u201d\t\t\t<\/p>\n\t\t\t\t\t\t\t

\n\t\t\t\t\t\t\t\t\t\t\tRay Dalio<\/cite>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tTweet<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/blockquote>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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While companies spend time on sales figures, they\u2019ve been overlooking one crucial building block that can make or break a business: *the quality of your hired candidates.*<\/p>\n

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Are you hiring the right people?<\/p>\n

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What\u2019s your current employee turnover?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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What Happens When You Hire The Wrong Candidate\u00a0for\u00a0the\u00a0Job?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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A high employee turnover can hurt your company immensely in terms of revenue; the cost of replacing an employee can range from 20% of an employee\u2019s annual salary<\/a> to up to 15x their salary,<\/a> depending on the employee\u2019s role. That\u2019s a lot of money your business could be saving.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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What Happens When You Hire The Right Candidate?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\u201cThe secret to my success is that we\u2019ve gone to exceptional lengths to hire the best people in the world.\u201d\t\t\t<\/p>\n\t\t\t\t\t\t\t

\n\t\t\t\t\t\t\t\t\t\t\tSteve Jobs<\/cite>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tTweet<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/blockquote>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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At the same time, the benefits of hiring the right people can be exponential; just by hiring the right person, you could be jumpstarting productivity among low-performing teams, causing a performance boost.<\/p>\n

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This \u2018performance differential\u2019, as defined from ERE<\/a>, is \u2018the quantified percentage difference on the job between an average and a top-performing hire (in the same job)\u2019. What this means is that, in companies like Google, who have defined their performance differential as 300 times the productivity, the revenue generated from the right hire would be 300 times the amount as compared to an average employee.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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How To Hire The Best Candidates<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\u201cI\u2019d rather interview 50 people and not hire anyone than hire the wrong person.\u201d\t\t\t<\/p>\n\t\t\t\t\t\t\t

\n\t\t\t\t\t\t\t\t\t\t\tJeff Bezos<\/cite>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tTweet<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/blockquote>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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So, how do you ensure that you hire right? Not every company has the time to interview 50 people and not hire anyone.<\/p>\n

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This is the problem we at GrabJobs are trying to solve, and our solution revolves around resolving a large amount of time wasted in attracting and selecting the right candidates to interview. <\/strong>Most recruiters start by posting on every single free job board and free job portal, without thinking about the quality of candidates that are filtered through the platforms.<\/p>\n

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At GrabJobs, our job portal<\/a> automates your recruitment process by posting your job to multiple job boards via our multi-channel job posting feature. More importantly, GrabJobs filters candidates using our interview chatbot to ensure that you\u2019re only receiving relevant job candidates for each role. Our platform even ranks the candidates according to specific criteria (decided by you, the recruiters) to help provide you with the most qualified candidate first.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\u201cI am convinced that nothing we do is more important than hiring and developing people. At the end of the day you bet on people, not on strategies.\u201d\t\t\t<\/p>\n\t\t\t\t\t\t\t

\n\t\t\t\t\t\t\t\t\t\t\tLawrence Bossidy, GE<\/cite>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tTweet<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/blockquote>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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In essence, GrabJobs helps you attract, select and hire the best talent on time and on budget. By choosing GrabJobs, you\u2019re investing in your company\u2019s success. After all, who doesn\u2019t want to have a performance differential of 300 times?<\/p>\n\n

Want\u00a0to\u00a0increase\u00a0your\u00a0quality\u00a0of\u00a0hires?\u00a0Take\u00a0a\u00a0look\u00a0at\u00a0our\u00a0Ultimate\u00a0Recruitment\u00a0Guide\u00a02020<\/a>!<\/strong><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Are you focused on sales for success? Read this article to see why your HR department and hiring process can provide more revenue instead.<\/p>\n","protected":false},"author":2,"featured_media":14495,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32,35,27],"tags":[],"class_list":["post-707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metrics","category-articles","category-trends"],"yoast_head":"\nThe One Hiring Variable That Will Determine Your Company\u2019s Success<\/title>\n<meta name=\"description\" content=\"Are you focused on sales for success? 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