How to Turn a Risky Hiring Bet into a Winning Employee Gain?

May 24, 201711:36 am543 views

There is a sense of thrill and anticipation with every risk. And some people are actually looking out for this, while making most of opportunities to experiment with something new. But is there any risk-associated, when it comes to hiring employees? Given the recent economic slowdown and the uncertainties, apparently the answer is a ‘No’.

But what if you have to?

Imagine a scenario where you have to hire one person for a particular job role. But after the final rounds of interview, you have zeroed on two. While both candidates are equally qualified with excellent candidature and track record of performances, offering promising potentials – how can you draw a clear difference between candidate X and candidate Y?

While Candidate X has little experience in dealing with your business, he has been working as an Intern on similar business in the past. This experience secures him a vantage point and increases his chances of landing the job. Meanwhile, candidate Y is a fresh graduate with zero experience in any business. But he seems to possess certain innate qualities to be your next star employee and all he needs is a single chance to prove his mettle and polish hidden talents to shine.

After carefully weighing upon the good and bad from each candidate, you decide to risk and hire candidate Y. Despite your doubts, toward his quality and performance (given that he has no proven track record yet), you believe that hiring candidate Y is the real business call to gain better business gains in the longer run.

However, a faith alone is not enough to ensure that you have made the right choice. So how can business leaders turn a risky hiring bet into a winning employee gain? Here’s how:

See: How to Deal with Incompetent Employees Refusing to Scale Up?

  1.    Use probation period

When the need for hiring new employees is urgent, sometimes it is best to weigh down the perils of hiring risky candidate and offer them the deal. But to minimise the risks that come along with the offer: use probation. Probation can be viewed as kind of an ‘expiration date’ for employees.

In some ways, probation can motivate employees to give their best performance, because they are aware that they can be terminated anytime. Employers can use probationary period to effectively coach and evaluate new hire’s quality. If this new hire is unable to meet the expected business standard within a certain time frame allocated, then the company can choose to let the new employees go without causing legal issue.

  1.    Conduct regular check-ups

One way to ensure that your risky hires are performing their job well is, by conducting regular checks with them. When you delegate them to a project, make sure that they understand what is expected of them, how they should execute and complete the task on time.

Ask what are the challenges they face and observe how they deal with them, so you can evaluate their work. Encourage the new hire/s to be open to you, and do not hesitate to come to you, when they face difficulties in their work.

  1.    Provide mentoring

It would be unfair if you left risky new hires alone to understand the job requirements and execute it all by themselves without any former guidance or training, then eventually fire them for failing to meet company’s expectation. Given the fact that the new hires onboard were not provided with adequate support system and necessary tools, they cannot learn and grow.

Therefore, leaders should be proactive to offer coaching and mentoring sessions for new employees. With a well-planned mentoring program, even risky hires can acquire knowledge and right guidance directly from the top performers. This will make them feel motivated to work harder and notch up their skills.

Read also: What Tops the Priority List of Employees in Singapore, Malaysia and Hong Kong?

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