Hiring practices and risk management go hand-in-hand. Your company needs the right people working for you to help keep it successful, and a risk management hiring practices plan that is specifically designed for your business can go a long way in helping you to find and keep the right people for the job.
Your Hiring Practices Risk Management Plan
Your employees are one of your most valuable assets. So if you have the need to hire someone, it may take more consideration than you may think. But that careful evaluation could pave the way to finding a candidate who is invaluable to your business. By following several key steps, this plan could guide you to hiring and retaining the right people for your company, and will allow for the development of hiring practices based on your unique circumstances.
Consider the following when creating your risk management hiring practices plan:
- Ask yourself what qualifications and traits are preferred for a new hire, such as:
- What kind of employee will help your company succeed?
- How experienced should they be?
- What educational background is needed?
- Develop applications that elicit meaningful information about job history and qualifications.
- Ask a range of interview questions and request recommendations from former employers if possible.
- As a company leader, be involved in the interviewing and hiring process.
- Have clear and consistent employee expectations across the board for everyone, including new hires.
- Ensure that the candidates you are considering understand your workplace culture.
- Consider conducting the appropriate employment screening and background checks as allowed by law.
- Encourage supervisor and manager training on hiring.
- Implement thorough new employee orientation and training, and follow up with new employees multiple times as they adjust to their new position.
Hiring in a Timely Manner
Businesses with ineffective and inconsistent hiring practices may rank lower than their peers in financial performance, quality, and customer satisfaction. An increase in employee turnover can have a significant impact on financial results. Not to mention that ensuring you are filling gaps in employment quickly and efficiently is important for your other employees. If you wait too long to hire someone, your current staff may become overworked, stressed, and burnt out.
Helping Employees Help Themselves
Training and orientation are essential for new employees. But don’t just stop with the basics. Provide ongoing opportunities to learn more about the business and improve skills to help keep employees motivated. Give feedback to employees on their job performance, but don’t just limit it to scheduled reviews. It isn’t fair to assume that everything is fine just because an employee doesn’t complain.
Employees may appreciate feedback so that they know they are doing a good job. A simple compliment on how an employee handled a situation will reinforce desired behavior, and convey that their efforts are appreciated. And if or when corrective action is needed, use a positive approach with specific recommendations. This can help avoid embarrassment, resentment, and possible future allegations of unfair treatment.
Properly screening and training any new hires while staying aware of your current employees’ needs can go a long way in helping to ensure that everyone understands their position, duties, and workplace culture. It is important to consider all remedies to control the risk and costs associated with hiring practices, and it can be beneficial in helping to provide insight and clarity on who will be representing your company.