When hiring employees, chances are you’re take the time to review resumes, assess skills and ensure that potential applicants have the right experience for the specific job. But do you also take the time to ensure you are hiring the right people for your specific company culture? If not, it could cost you.
Check out our infographic below to learn why hiring for cultural fit is so important and how you can ensure you are hiring the best candidates for your company.
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Not hiring for cultural fit can cost you.
Making the wrong hire can prove costly, and hiring someone who doesn’t fit your culture is the cause of 89 percent of all hiring failures. For every hiring mistake you make, replacing that employee can cost you as much as 20 percent of his or her annual salary.
Hiring for cultural fit has clear benefits.
Studies have shown that hiring employees that fit your culture can boost employee engagement substantially, and better employee engagement contributes directly to better business results.
For example, highly engaged workforces are more productive and more profitable than other companies. Additionally, engagement can curb turnover, accidents, quality defects and absenteeism as well.
Culture fit is a win-win for you and your employees.
Everyone in your organization – from the C-Suite to the first-floor cubicles – can benefit from achieving culture fit. That’s because hiring employees who fit with their organizations:
- Are more satisfied in their jobs
- Identify with their companies and their missions
- Remain with their organizations longer
- Are mentally and physically healthier (which can reduce workers’ compensation costs)
- Are more committed
- Show superior job performance
Need a hand hiring for cultural fit?
At Accounting Principals, we help companies connect with top accounting and finance professionals by looking beyond the resume. Our screening, selection and verification process is the most comprehensive in the staffing industry. To learn more about it, or how we can put top accounting and finance pros to work for your organization, contact your local branch.