So, you’ve hired the wrong person. It happens. It actually happens to a lot more than companies would like. But before you let the hiring mistake have a negative impact on your finance or accounting company, you need to take steps to quickly recover from your error.

Toronto Financial Recruiters Explain How to Recover From a Hiring Mistake

Accept you made a mistake and focus on rectifying the situation. Here are some ways you can recover:

  • Take action: You need to take action as soon as possible. Stop telling yourself that “maybe they just need a little more time.” Things could get worse during this time. If it’s clear the person is not working out, step in, and take action before the hiring mistake starts to have a negative effect on the rest of your team.
  • Own it: Take ownership of the hiring mistake. Avoid undue blame on others. Be honest with yourself about the reasons the mistake was made. If you don’t own it, you’ll have a tough time realizing the true reasons the mistake was made in the first place.
  • Consider redeployment: Before firing the candidate, think if there are other roles internally for them. Often, a hiring mistake is not because of a person’s character; it’s because they lack skills or knowledge. See if you can find a role better suited for them.
  • Help the employee move on: If the candidate puts in a strong effort and there is no ill will, do what you can to help them. You can provide a great reference, provide introductions to other people you know in the industry, and even provide guidance.
  • Reflect: Why did the employee fail at the job? Did they lack the necessary skills and knowledge? Perhaps they had a personal issue that was impacting performance. Are they not the same person you thought they were during the interview process? Are there issues with how you assess candidates?
  • Find the right replacement: Move quickly to re-engage other candidates you had previously targeted for the job. Start recruiting as quickly as possible. Make corrections to your candidate assessment process if you feel that was the issue for the initial hiring mistake.

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Riel LaPointe Financial Recruiter

Riel LaPointe

Riel is a VP of Client Services with IQ PARTNERS where he recruits across the full scope of multiple lines of business, with a particular focus in Financial Services & Insurance, Technology, Human Resources, and Real Estate Services.

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