A founder can’t grow a winning enterprise singlehandedly. Some may try, but it is nearly impossible to do so. Every famous entrepreneur has built a flourishing company with great employees by his or her side.
An entrepreneur can invent and even commercialize an idea as an enterprise of one. In time, however, the tasks of running a business become too great for the entrepreneur to manage alone. At this point, a savvy leader must find and hire the best workers to help achieve the entrepreneurial dream.
In today’s economy, hiring the best people is more critical than ever. Entrepreneurscan’t afford to lose time, money and results from a bad hiring choice (a recent Forbesarticle by David K. Williams pegs the cost of a single bad hire at anywhere from $25-50,000). The cost of finding, interviewing, engaging and training new employees is high. Employees also require desks, computers, phones and related equipment, let alone the largest costs of being an employer—salaries, benefits and taxes.
Leaders view new employees as an investment and anticipate an excellent financial return over time.
Over the course of my career, I’ve hired hundreds of people. Some were exceptional employees who were major contributors to our success. Others didn’t work out. In most cases, when an employee left or was terminated, I was the problem. Those dismissed were good people. I just did not know how to properly hire new employees.
Historically, and sadly, the only criteria I had used were to find the candidate with the best skills, experiences and ability to match a job description.
I have since identified seven categories—I call them the “7 C’s”–that you should consider to find the best new employees, as follows:
1. Competent: This is still the first factor to consider. Does the potential employee have the necessary skills, experiences and education to successfully complete the tasks you need performed?
2. Capable: Will this person complete not only the easy tasks but will he or she also find ways to deliver on the functions that require more effort and creativity? For me, being capable means the employee has potential for growth and the ability and willingness to take on more responsibility.
3. Compatible: Can this person get along with colleagues, and more importantly, can he or she get along with existing and potential clients and partners? A critical component to also remember is the person’s willingness and ability to be harmonious with you, his or her boss. If the new employee can’t, there will be problems.
4. Commitment: Is the candidate serious about working for the long term? Or is he or she just passing through, always looking for something better? A history of past jobs and time spent at each provides clear insight on the matter.