In our day and age, hiring the best people is more critical than ever. Entrepreneurs can’t afford to lose time, money and results from a bad hiring choice (a recent Forbes article by David K. Williams pegs the cost of a single bad hire at anywhere from $25-50,000). The cost of finding, interviewing and training new employees is high. Employees also require equipment such as desks, computers, phones, and so on - let alone the largest expense of being an employer—salaries, benefits and taxes.

Leaders view new employees as an investment and expect a great financial return over time. This is probably bad news, but in most cases, when an employee leaves or is being terminated, the problem roots in the environment and/or the management.

Let’s go over some critical points that can help you find the best candidates to become new additions to your team:

Competence is the nr.1 factor to consider. Does the potential employee have the necessary skills, experiences and education to successfully complete the tasks this role requires?

Capability - 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? Being capable also means the employee has potential for growth and the ability and willingness to take on more responsibility moving forward.

Compatibility - Can this person get along with colleagues, and more importantly, can he or she get along with clients and partners (both existing and potential)? A critical component to also remember is the person’s willingness and ability to be someone’s employee? Some people just can’t work as subordinates to others - this must be spotted if that’s the case. 

Character - Does the person have values that align with yours? Are they honest; do they tell the truth and keep promises? Are they able to and willing to work in a team?

Culture - Every business has a culture or a way that people behave and interact with each other. Culture is based on certain values, expectations, policies and procedures that influence the behavior of a leader and employees. Employees who don’t align with a company’s culture tend to cause difficulties, so it makes sense to detect it early on.

Compensation - As the employer, you have to make sure that the person you hire truly agrees to his/her compensation package and is satisfied with what is offered. If not, an employee may feel unappreciated and thereby underperform. 

If you ask the right questions, job applicants will give you all the info you need about these points in their answers. It also makes sense to ask the candidate to fill out a personality test, we strongly recommend 16 Personalities, link here. Apart from being a great tool to find out where they fit the best within an organization, it also gives them a detailed reflection of themselves and it's free!

Considering all the above, hopefully this will give you a full and accurate view, and will prepare you to be better equipped to choose the best candidate for this role, this team and this business.

Source: Alan Hall, Google+