One of the biggest mistakes employers make in the hiring process is treating candidates like children. They believe with a few exciting “perks” they can be won over in a matter of minutes.
But employees are adults and what they crave in the workplace is stability, positivity, opportunity and respect. The key to great recruiting is your culture. It is the thing employees will attribute the majority of their happiness to because it is what they deal with day in and day out.
Consider the three biggest misconceptions in the hiring process, so your next hire is a great fit on both ends:
When asked about their biggest motivator in accepting a job offer, money ranked towards the middle to end of a candidate’s list. You’re going to have to offer a whole lot more than a fat paycheck to entice top talent.
More important than money are things like trust — are employees given autonomy to make their own decisions or are they micromanaged by management? Another big one is feedback — how are employees evaluated and set on the path to advancement?
Employees are often offered stock options because it’s believed they’ll have more incentive to perform better. The truth is, employees and investors have different priorities and want different things. Stock options may not be the best way to go.
If you want to offer stock options, consider them as a reward or bonus rather than part of the compensation package.
Your company can offer endless catered lunches, after work happy hours, gym memberships, company retreats, etc., but if the people don’t enjoy being around one another, it means nothing. People are the reason employees stay on board, above anything else.
Keep in mind how a new hire will “mesh” with the existing team; if they won’t be a good fit, they probably won’t be happy working there and vice-versa for your existing employees.
I’ve learned a lot about the psychology of teams and employees. In fact, I’ve dedicated a whole chapter to “Building a Team” in my book, “Seven Figure Firm: How to Build a Financial Services Business.”