The task of narrowing down qualified applicants for a job position is a difficult one, as the results can contribute to the success—or failure—of a company. This is especially true for small startups with few employees, as a mistake in hiring practices can have huge ramifications. Companies must often choose between hiring candidates that have years’ worth of relevant experience and those who are newer to a specific career path—a dilemma that carries a variety of pros and cons:
Hiring for Experience
Many CEOs view hiring experienced candidates as a safer choice, as less training will be required and long-term loyalty is more likely. In general, hiring managers should prioritize experience and skill when there are time constraints, technical job positions with little room for error, or a current lack of experience in the department in question. However, be sure to consider the attitude and abilities of the candidate, as a long resume is not necessarily an indicator of motivation or proficiency.
Hiring for Potential
Less-experienced candidates are often valued for their fresh perspectives and low demands. By choosing an individual that is relatively new to the workforce, you can gain a valuable return on your hiring investment, as the employee can be more easily trained to meet the specific needs of the company. Yet a lack of experience at performing certain tasks can be detrimental when a tight deadline is involved, and many businesses have invested resources into training a young and ambitious employee only to have him or her seek out another job in a few years.
A CEO interested in hiring the best fit should consider the demands of the job as well as the personal qualities and professional goals of the candidate. For more advice on hiring practices and other leadership concerns, contact TEC today by calling (262) 821-3340. Our executive coaching sessions help CEOs throughout Wisconsin and Michigan enhance the effectiveness of their businesses.