PRESS RELEASE: Corporate Psychologist Warns of Expensive Hiring Mistakes

MEDIA RELEASE – FOR IMMEDIATE RELEASE
Dr Ken Byrne
Corporate Psychologist
0419 182 227
[email protected]
www.drkenbyrne.com

Corporate Psychologist Warns
of Expensive Hiring Mistakes

Melbourne, Victoria

Australian businesses are on the edge making some very expensive mistakes. “With an acute labour shortage, it is tempting to conclude that ‘Anyone is better than no one. This can be an attractive but fatal trap” said Dr. Ken Byrne, a Corporate Psychologist with over forty years’ experience.

Dr Byrne says that “Companies hire people for what they know. Invariably they fire people for who they are.” Experience counts more than character. Apparent skills trump integrity.

Hiring mistakes are extremely expensive…more than most people realize.

In his new book, Seeing Behind the Job Applicant’s Mask Before Your Hire he provides clear, easy to read solutions to the challenges of attracting and selecting the best employees. Dr Byrne hopes that this will fill the gap caused by owners and managers having little formal training in how to hire staff.

Recent Research Findings

LinkedIn surveyed 5000 recruiting professionals from 35 countries. They found that “89% said that when a new hire doesn’t work out, it’s because they lack the critical soft skills”. And by soft skills they mean people skills.

They conclude that most interviewers have no objective way to assess these skills.

“Unless someone has the character and values for your business, they pose a high risk of becoming a problem performer.” says Byrne. When times get better, these are the people you will dismiss…unless you’re forced to fire them sooner.”

The Cost of a Hiring Mistake
Several studies put the cost of a hiring mistake at two to three times the annual salary. Having closely observed hundreds of hiring mistakes, Dr. Byrne estimates the cost can be as high as six times the annual salary.

Some costs can be calculated. At a minimum these will include:
• Advertising
• Time invested in reviewing applications,
• Effort and time in conducting interviews
However, according to Byrne, “The biggest costs are invisible. Consider the potential damage to your reputation, or the impact on your customers and other staff. What is the cost of damage to your corporate culture, or stress on the manager who has to supervise a marginal performer?”

Most insidious – and difficult to measure – is the opportunity cost. “Where would your business be if you had hired just an average performer who didn’t cause you problems?” asks Dr. Byrne.

Byrne notes that every hiring decision is an exercise risk assessment. “What is the cost of being sued, either by the employee for unfair dismissal, a fellow worker for bullying or harassment or a member of the public who alleges harm done by the employee?”

A Solution is Available
Dr Byrne wrote his book to offer practical solutions to the problems every business face when selecting staff.

The book describes:

• The single most important – and rarely asked – question to begin your search
• The Five Inevitable Problems in every hiring process
• Twelve High Value Strategies for attracting the best candidates
• Steps in designing a foolproof selection process
• Two powerful and essential questions for every applicant
• How to make the final hiring decision.

His book is readily available from Amazon.

For more information, including case studies, contact Dr. Byrne on 0419-182-227 or by email at [email protected]. Learn more about him at www.drkenbyrne.com

Profile

Dr. Ken Byrne has been a Corporate Psychologistic in independent practice for over forty years. As an advisor to businesses wanting to hire or promote staff, he has been directly involved in over 3000 of these decisions. His clients have included ANZ, Coles Myer, Telstra, The Walt Disney Company and Tattersall’s as well as a range of small to medium sized businesses. For over 25 years he served as a consultant to many Australian police and public safety agencies.