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With 84% of HR and business leaders in Singapore expecting to increase headcount this year, it is slightly worrying that two thirds believe 10% of their staff were bad hires.
“Especially in a tight labour market like the one we are experiencing, companies have to sacrifice quality for speed and this often mean making hiring decisions with complete disregard to cultural, behavioural and motivational fit,” Adrian Tan, managing director of RecruitPlus Consulting, said.
A RecruitPlus survey of 4,000 local HR and business leaders found 18% of respondents believe one in five hires have been bad, while 4% admitted half of their hires have not been positive.
“It all boils down the fit of the individual towards the requirement of the job. This also includes cultural and management factors as the same role over different companies would also play out different by the same individual,” Tan said.
Therefore, it is little surprise respondents were willing to pay 10% to 30% more for a “super performer”, or an employee who they believe can handle the job of two to five bad hires.
Leaders believe these super performers are often hired through referrals, recruitment agencies and job boards. In fact, 93% of respondents are willing to invest in tried and tested assessments to guarantee the hiring of a super performer, and 38% admit they do not have time to turn bad hires into high performers.
Therefore, companies will have to focus on better targeting super performers during their hiring process.
“And this means working on a good employer branding, putting in strict and structured recruitment process, measuring the common origin of good employees and placing greater emphasis on the intrinsic job match that can only be best provided by a proven assessment tool,” Tan said.