You may not realize it, but whether a person stays with your company or not is determined at the time of the interview. Since 80 percent of all employee turnover is due to a bad hire, all signs point back to your hiring process. The bad news is, every time you hire and train the wrong person for the job, your business loses money. Long-term, it’s a practice that can sink your business.

One big key to success in business is to make the right hire on the first try. Here are a few tips that can put you on the right path.

Don’t Rush to Hire

When you have vacancies, it can put a strain on operations. Others may be filling in for the person, taking them away from their other work, or your customer relationships could be suffering due to staffing shortages. It’s only natural to rush to fill those empty positions to relieve that strain, but if you hire someone who’s a bad fit for the job, you’ll be back in the same situation in a few weeks when the person leaves.

Create Benchmarks

Before you place a job ad, you should take some time to imagine the person who would be the perfect fit for the position. If there are people currently in the role, interview them and extract some characteristics that make them great at what they do. Often soft skills like communication, problem solving, and adaptability are far more valuable than whatever technical skills they have. Once you’ve identified those characteristics, create benchmarks that you can then use as a template during interviews. Through the use of personas, you can even flesh out your ideal employee for various positions, visualizing characteristics like professional background and personality traits.

Assess and Adjust

As you make your first hires under the new system, you’ll learn more about what did and didn’t work. It’s okay to make mistakes, as long as you make note of those mistakes and put them to use moving forward. Most importantly, though, pay close attention to those attributes that made a good hire the right fit, and make sure you’re focusing on those areas during your interviews. 

Perfecting your business’s hiring techniques won’t happen overnight, but it’s well worth the effort. Once you’ve established good hiring practices, you’ll not only be able to save money on hiring mistakes, but you’ll also gradually create a work culture that fits your own vision for your company.