Industry Insiders – Do your due diligence before hiring!
By Maria Forbes
April 3, 2023
Business leaders are experiencing a very real skills shortage in today’s labor market, finding qualified candidates to fill a position can be a challenge.
Clients occasionally have what they view as a great opportunity to hire an industry insider for a key position, someone who is currently working in a high-level role, has a good reputation among colleagues, is widely networked, or has been referred by a close colleague. This seems like a sure fit and not necessary to look any further. However, an industry insider can be a competitive advantage IF you do your due diligence. Without proper vetting of industry insiders, even at the highest levels of your company, you are at great risk of a hiring crisis.
You may be wondering if conducting reference checks and potentially losing out on the ideal candidate, is worth your time and money. The question you should be asking yourself is, “can I afford NOT to do my due diligence and perform a reference check?”
Slow down! Not checking references is taking a 50/50 gamble in the race to get ahead of your competition and “beat the clock” to hire the candidate who presents as highly qualified.
Hiring misfires can cause very real problems such as confusion and/or negatively affecting the performance of your teams, loss of your clients, and potentially damaging your company’s reputation. We all know the high cost of turnover!
Some candidates can display appealing characteristics about themselves during an interview that don’t accurately reflect performance and past behaviors at their previous employment. Therefore, obtaining feedback from former employers can help minimize potential risks and find the red flags you may have missed in the initial interview process.
If you skip this very important and necessary 2nd step, you’re leaving a lot to chance about the candidate’s performance, productivity, and conduct. Uncovering potential problems early can save you a lot of headaches, and you will be able to rest assured that your due diligence has secured the right qualifications for a needed role.
When done right, “candidate hiring due diligence” can confirm a wise decision to bring a candidate into your company. Onboarding your new members at every level will ensure a successful start with your company from day one —a critical advantage in today’s labor-scarce talent market.
Contact Maria Forbes, FIREPOWER Business Catalyst, LLC. to professionally assess and onboard your potential new hire.