When HR receives a resource requirement from a department, they post a job update listing the role’s requirements, key responsibilities, necessary experience, educational qualifications, and sometimes the salary budget. Applications start pouring in, and after some candidate screening, interviews, and tests, the perfect-fit candidate is hired. Sounds like an ideal scenario, right? But in reality, it’s often far from a success.

Finding the right fit for a role is no small feat. Employers that rush the hiring process, hoping to quickly fill crucial roles, often end up dealing with the fallout of a bad hire later on.

In fact, a study by the Society for Human Resource Management (SHRM) estimates that replacing an employee can cost up to 60% of their annual salary. Additionally, another study from CareerBuilder reported that 36% of employers found decreased productivity due to a bad hire. When an employee underperforms, other team members often have to pick up the slack, leading to increased workloads, higher stress levels, decreased morale, burnout, and higher absenteeism. Ultimately, it ends up posing significant risks to the business.

Therefore, despite the pressure to fill the roles fast, HR takes time to ensure quality hiring. And when the right HR investments are in place, this time-taking process is worth every minute.

The real question is: Are businesses making the right investments when it comes to HR practices?

Andzelika Bendoraityte, a Dubai-based Senior HR Consultant, points out that many decision-makers still see HR investment as a financial burden rather than a revenue-generating strategy. She states:

 Sadly for the business, MOST decision-makers continue to view investment in best HR practices as a financial burden rather than a revenue-generating activity. However, the overall cost for a bad hire is $9,600 to $127,800, including recruitment, training, lost productivity, managerial efforts, legal fees, and other associated costs like benefits and taxes.”

When AI comes into the picture, it becomes even more difficult to hire the right people?

Because candidates are increasingly using AI tools to craft resumes and ace interviews, figuring out who genuinely has the right skills is becoming trickier. While AI can make many candidates appear ideal, it lacks the human touch needed to pick up on subtle cues, body language, and intuitive decisions. Andzelika emphasised: ‘Despite the undeniable ascent and integration of AI in recruitment, maintaining a human-centric approach remains paramount. What AI lacks is the ability to grasp nuances and intuitive feelings, establish authentic connections, interpret body language, and make nuanced decisions — skills that humans have honed over the years

But blind investments in AI-backed processes are a big NO!

So HR needs to invest in the right tools and strategies

Recruiters also need to understand that a time-taking process doesn’t always guarantee the right candidate. Striking a balance between speed and thorough evaluation is essential.

Using AI-backed technologies to screen candidates can reduce costs and speed up hiring without sacrificing quality. Just like Right Person in Right Seat, HR needs to adopt a Right Investments in Right Technologies policy. 

A simple job posting may attract dozens of suitable candidates, but only a few of them will have true leadership or technical expertise, and filtering them out will be another time-taking task. Here HR can use AI-backed technologies to set filters in candidate selection, while also avoiding a rushed process that can result in costly errors. The candidate screening process using AI technology can save big costs, whether it’s for the c-suite role or a mid-level data analyst role.

“utilise technology to streamline your hiring process and improve efficiency. Applicant tracking systems, video interviewing tools, and AI-powered assessments can help you identify top talent more quickly and effectively. For example, using a chatbot to screen resumes can save time and allow you to focus on more qualified candidates,” writes Tim Sherstyuk, founder of Canada-based recruitment firm. 

Alternatively, employers can hire an agency that will carefully evaluate not only skills and experience but also alignment with the company’s vision and culture through candidate assessments.

Investing time in thorough evaluations and multiple interview rounds reduces the risk of bad hires and ensures a better cultural fit. A good hire is not the result of speedy hiring, because when speed comes into the picture, recruiters might overlook red flags or cultural mismatches.

The role of an agency isn't to fill seats. It's to go out and find the best possible hire for the business. The kind of hire that can transform teams and offer a huge return. I'm not saying that internal hiring teams can't find good hires. But they may not have the time to headhunt that next great hire. And you need to make it clear that a great hire will impact their bottom line more than the cost of an agency,” – writes Kate McCarthy.

Additionally, Tyler Fisher, Talent Acquisition Manager, highlights challenges like measuring the quality of hires due to data limitations and subjective metrics. He recommends creating role-specific scorecards and partnering with cross-functional teams to gather quality metrics.

As demand for talent across industries evolves (amidst skills scarcity) building long-term relationships with potential candidates becomes crucial. Employers need to proactively engage with talent pools rather than resort to reactive hiring practices.

Being visible to right fit candidates with better employer branding strategies. Or else only wrong fit will apply for the job roles.

Matt Parkin, Partnership Manager at Fulfil rightly puts, “Hiring is just like marketing. You wouldn't put your entire marketing spend into a single channel. Same thing applies with sourcing channels for candidates. Put your marketing hat on and critically analyse the stats like time to hire, cost per hire, and retention across sourcing channels to ensure you're continuing to adapt and innovate your talent strategy.”

Junaid Husnain Javaid, a Spain-based HR shared, “I have encountered a significant challenge when trying to hire for a critical position with a unique skill set. Despite a thorough search, suitable candidates were scarce. In my experience, sourcing candidates for niche roles, especially in rapidly evolving industries like technology, can be a recurring challenge.

One thing I have found helpful in such situations is to broaden our search strategies. Exploring alternative talent pools, engaging with industry-specific online communities, and networking extensively have proven effective. Additionally, maintaining open communication with hiring managers to fine-tune the job requirements based on market realities has been crucial in adapting to the dynamic nature of the industry.”

Strategic HR investments can make hiring the right talent a positive experience for both HR and the candidate. Recruiters can take careful steps to get things right on their end.

"I have seen many companies lose outstanding candidates because the hiring process takes too long. If you are having five or six rounds of interviews, multiple assessments, etc., before making a hire, you are probably missing the A+ candidate who got hired by your competitor who moved faster,' shared Jeremy E. Barnes — a U.S.-based recruiter."

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In the end, hiring the right talent takes time, but it’s an investment that pays off. By focusing on comprehensive assessments, strong employer branding, and thoughtful use of technology, organisations can build resilient, high-performing teams. Thoughtful hiring is not just about filling vacancies but about setting the stage for long-term success.