Remarkable Recruitment: How Good Hiring is Great for Business
When business leaders say “people are our greatest asset”, hiring is where that promise either compounds ... or collapses. Strong recruitment practices don't just fill seats, they are a cornerstone of performance, profitability, culture, and resilience. How?
Good hiring reduces churn. It is estimated that the cost for replacing a role is 16 – 20% of the role’s annual salary. This number increases for complex, high-skill jobs, with expenses spanning recruiting, onboarding, lost productivity, and quality deficits (not to mention how the loss of some team members impacts client relationships). In general, retention is cheaper than churn; and retention is built on good recruitment.
Strong recruitment fuels engagement and performance. Gallup ran a large-scale meta-analysis on 112,000 teams and found that business units in the top quartile of engagement saw 23% higher profitability and 18% higher productivity than those in the bottom quartile... along with significantly lower turnover. This data tells us that hiring people who are well-matched to a role and a manager (who then manages them well) is good for business. On the flip side, hiring poorly, especially into a mismatched role or management style, can negatively affect productivity, morale, and client relationships.
Recruitment methods that matter. MIT Sloan found that identifying and deploying good interviewers materially improved the selection quality of candidates and lowered costs. Good interviewers who understand the role, execute equitable hiring practices, and are aligned with business needs deliver better, faster, longer-lasting outcomes. Related work at MIT highlights how hiring algorithms that explore, not exploit, hiring patterns can improve candidate quality and diversity.
Good Hiring = Good Culture. Every employee brought into a business affects the business. Research from SHRM shows us that cultural alignment in hiring fosters trust, collaboration, and retention. When recruitment emphasizes both skills and values fit, employees are more likely to embody behaviours that reinforce the desired culture. Conversely, poor hiring can introduce cultural fractures, undermining cohesion and engagement across teams. Additionally, SHRM studies note that high-performing organizations are more intentional in general when to comes to aligning recruitment with cultural priorities – because they know that culture itself is a driver of performance.
Building a remarkable recruitment strategy requires more than filling vacancies. It demands aligning talent, culture, and business goals.
MOVE HR can help. With expertise in evidence-based hiring practices, culture-driven recruitment and workforce planning, and recruitment strategies that meet your needs, we work to ensure that every hire is a long-term investment in your productivity, profitability, and success.
Get in touch today to find out more.
