When a company hires someone who does not succeed, it can cost 3 to 6 times the amount of the hiring salary. Besides salary, taxes, and benefits, there are other hidden costs, including the loss of new business and business in general, as well as the impact on employee performance, productivity, and morale.

A deeper look reveals more impact specifically directed at the hiring manager (ultimately accountable for the failed attempt), loss of reputation among peers and staff, as well as credibility as a leader capable of surrounding himself with winners.

Let’s not forget to mention the risk-related impacts when a poor hire terminates; legal, HR, intellectual capital, unemployment, etc.

Media from the Wall Street Journal to CNN, Good to Great, Top Grading, and hundreds of CEOs with whom I’ve spoken, agree that one of the top strategic initiatives of many companies is hiring not only new talent, but also the right talent.

What your internal, external, and management team recruiters need to understand and embrace is that while there is a talent shortage, growth-oriented companies are demanding more of their workforce, and are unwavering in their expectations to attract and hire difference makers.

Companies in tune with the global demand for talent as well as the changing demographics and psychographics affecting their workforce are painfully aware of their inability to attract, select, retain, and develop the right people on their own.

All of this means these firms have to make investments in systems and operating practices that elevate their ability to attract and retain the best. Companies choosing to leverage their opportunities for innovation, competition, and achievement of corporate objectives know they need to invest in and partner with industry experts who specialize in building hiring systems and teams, retention programs, and leadership and employee development programs.

Begin with the End in Mind

Recruiting is where it all begins. There is no employee development program on the planet that can rebirth a poor manager with poor competencies into a great leader if they fundamentally do not have the right behaviors, values, and motivations.

When the right core traits are present, competencies can be learned; when they are not present, all the training in the world cannot and does not make a difference.

One thing I’ve finally learned in life and in recruiting is that the key to making connections comes from asking the right questions. When I first set out to get into the world of recruiting, I was turned away because my future brothers and sisters in arms thought that I would be better off sticking to my Intelligence Analyst background.

It wasn’t until I asked the right question that I was able to get in the door with recruiting companies. The question was, “What is it that you would like to see in my background that would show that I am serious about getting in this field?”

The answer I received was “sales experience.” Two weeks later I was selling new and used cars.

When selling cars, I learned that overcoming the negative stereotypes that come with being a car salesman was also made possible by asking the right questions. When you ask the right questions, you demonstrate to the person on the other end of the table that you are listening; you are interested in meeting their needs; and that you are really there to help them arrive at a satisfactory decision.

A lot of times we may not see ourselves this way, but in all of our inquiring engagements we are really on a decision-making journey. Arriving to that destination is facilitated through questioning.