Most employers do not spend time thinking about the interviewing process, which can be a strategic error in the long run. Far too often, the process is overly reactive. Interviewers and hiring managers jump to a quick decision and hire one of the first candidates available as opposed to hiring the right candidate. They end up with an unstructured interview process that may or may not net the best candidates.
There’s a real need to use the interview process to identify the best candidates. The cost of employee turnover ranges anywhere from 40 to 70 percent of the position’s annual salary for service sector jobs. For supervisory positions, the cost may be over 100 percent of the annual salary.