Prevention is better than cure. This may sound cliché but it is very true in the employment industry. Many companies suffer from having the lack of good manpower because they have hired the wrong people. Because of inefficient hiring process, these companies have to deal with inefficient, unproductive, and unmotivated individuals, which results in bad business and investment. Hence, companies should beef up and improve their hiring process to make sure only to hire the most deserving and qualified, if not the best and the brightest. This goes that same for business owners who are planning to establish an algorithmic trading platform as it will get them on the right track.
All companies invest in their employees because they are the workforce behind their business. Simply put, without employees, any company will not be able to achieve success and growth. Hence, it is very important for companies only to hire the qualified applicants; otherwise, they will have to deal with unskilled and untalented individuals who can potentially put the business in the bad light.
If you are on the verge of forming an algorithmic trading platform and you want to hire only the best and the brightest, you should not ignore these tips:
1. Come up with effective and up-to-date recruitment procedures – In order to determine the flaws in a company’s hiring procedures, the company must first review its hiring process and know the procedures that do not work. Evaluation is the first step towards improvement because it determines what’s wrong, inaccurate, and ineffective, giving the company the leeway review the next steps to take.
2. Get employees involved – In order to have a better perspective on the issue, it is advisable to know what employees have to say. Since employees have first-hand experience on the hiring process, working environment and relationship with co-workers, their opinions and views about the issue are essential. By doing this, the company can easily determine what parts of the process need improving, and what issues in the working environment needs addressing.
3. Improve what can be improved – If a company’s hiring process is not very flawed at all, some improvements can be done. After determining the ineffective and outdated facets of the hiring process, the company can now lay down set of improvements, which will benefit the company in general in the long run. Steps or procedures that seem ineffective may be improved by substituting them with more feasible and result-oriented steps. For example, if the assessment exams given to the applicants are no longer applicable to today’s trends, the company should give more up-to-date assessment tests to better know the candidates.
4. Get rid of ineffective and outdated procedures – If there are a lot of flaws in the hiring process and little improvements would not work at all, the company should consider coming up with new and improved procedures. However, it is important not to drastically change everything. Before changing every facet of the hiring process, it is advisable to provide series of training to employees involved in the process first in order for them to have a solid understanding on the proposed changes. This will ensure smooth transition from the old process to the new one.
5. Hire experts – Companies that are serious in hiring only the best candidates should consider consulting with experts. In Australia, there are several consultation companies that provide expert advice to business owners on how to improve their hiring process. These companies specialize in improving assessment processes so their clients will be able to filter the good candidates from unqualified ones. These companies also provide leadership training courses to their clients’ top officials and executives so they effectively manage their teams and people, providing so much benefit to the company.
If you want your company to be filled with spirited, motivated, and productive employees, then you should improve its grassroots program, which means its employment and hiring process. By tackling the issue from the onset, you can easily weed out the unqualified candidates. Truly, prevention is better than cure.