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Tech Teams for #Insurance, #InsurTech & #FinTech • #Offshore #Outsourcing • #VentureStudio #HRTech • Founder & CEO - INT.
The Costliest Mistake You Can Make in Business: A Wrong Hire Hiring the wrong person isn’t just an expense—it’s a domino effect of challenges: lost money, derailed processes, cultural misalignments, and missed opportunities. And yet, most of us still approach hiring reactively, treating it as a transactional activity rather than a strategic one. Here’s the biggest mindset shift that changed everything for me: Recruit, don’t hire. What’s the difference? Hiring happens when you’re in a rush—when you need someone now. Recruiting, on the other hand, is an ongoing process. It’s about constantly discovering, evaluating, and building relationships with potential team members long before there’s a vacancy. But recruiting the right fit isn’t just about scanning resumes or looking for the "perfect" experience. It’s about peeling back the layers to find substance, not fluff. Let’s face it—many people are great at talking about what they’ve done, but far fewer have truly done what they claim. It’s your job to dig deep, ask hard questions, and verify their track record. Here are a few principles I’ve found invaluable in this process (so that you dont loose crores by repeating the same mistake!): 1. Cultural and Value Fitment A great candidate aligns not only with your company’s culture but also with its values. This isn’t a one-way street—they must feel at home in your culture, too. Skills can be taught; values and attitudes rarely can. 2. Test Through Consulting Assignments. Before diving into a full-time commitment, consider starting with a short-term project or consulting engagement. This gives you both a chance to evaluate the fit in real-world scenarios. 3. Avoid Biases. Biases cloud judgment. Use structured scorecards to evaluate candidates, focusing on measurable criteria. Multiple conversations in different settings over time will give you a clearer picture of who they truly are. 4. Leverage Industry-Specific Headhunters. A great headhunter does more than source resumes—they build long-term relationships with potential recruits and understand the nuances of your industry. The right partner can save you time and deliver exceptional fits. There is no bad hire, there are only wrong hires. a wrong hire is one which is not aligned with your goals, culture, and values. Two things to do after hiring: - Map actions with your scorecard to verify if your judgement was correct about the person - Work closely and transfer limited responsibility, with a timeline for complete transfer The next best thing to a good recruitment is to let go a wrong recruitment asap. Execution is the backbone of any business, and the foundation of execution is your people. Don’t leave this critical function to chance or urgency. What are your go-to strategies for finding the right fit? Let’s share and learn in the comments. #recruiting #hiring #teambuilding #execution