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In a down economy, talent is plentiful. However, finding the right candidate still remains a challenge. Read on for tips on how to avoid the most common hiring mistakes in a down economy.
- Ann Clifford, President
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Dos & Don'ts
Can a company require a "probationary period" for new employees?
(Answer provided at the end of the newsletter.)
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Low Ball Offers
Candidates understand that many companies may not offer the salary levels they were making prior to the recession. These candidates may be willing to currently accept a lower salary. However, as the economy improves these candidates might be the first to jump ship for higher paying jobs.
You may think you have hit the grand prize by hiring competent talent at lower salaries, yet if they quit, your short term employee could end up costing you more in the long run. Candidates know what they are worth in the marketplace and will expect you to ante up once business improves.
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Overqualified Candidates
Suppose you are searching for a bookkeeper to manage basic daily accounting functions, yet you have the opportunity to hire an experienced Controller instead. Is this a great opportunity or are you opening Pandora's Box? Hiring an overqualified candidate only makes sense if the position has immediate growth potential in terms of responsibilities and compensation. Before hiring anyone who has significantly more experience than a position requires, ask yourself these questions:
Will the candidate get bored?
How long will the candidate stay?
Can you afford them?
Do they fit our corporate culture?
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Safari Interview Tip
To learn about a candidate's adaptability ask, "How did you adapt to challenges of the down economy in your last position? What would you have done differently knowing what you know now?"
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Talent at Bargain Salaries
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Answer to Today's Dos & Don'ts
Can a company require a "probationary period" for new employees?
Probationary periods are legal. In fact, the federal government often hires with a one year probationary period. However, a probationary period is often unnecessary if the ultimate goal is to be able to fire a candidate without "good cause." Many states, such as Indiana, are "at-will states" meaning that any employer or employee can terminate the relationship at any time, with or without cause. However, best practices would suggest to error on the side of caution and document performance to support your decisions.
http://employeeissues.com/probationary_period.htm
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