When you pay more attention to your raw materials than you do your talent, what you end up with is people that aren’t as productive as you need, aren’t as happy as they should be, and turnover that is high and costly. And nobody wants that.
Plus, notes Sue Marks, CEO of Pinstripe and Ochre House, a global talent acquisition and management firm, your probably going about hiring all wrong too. Up to 70 percent of recruitment is unnecessary, she claims. So what is necessary? Here are seven tips:
To keep reading, click here: 7 Ways to cut Your Turnover Costs and Boost Morale
Turnover costs include productivity losses during training, recruiting and lost work while a position is vacant. Many people can do what your ex employee did, but they don’t have the specific knowledge she/he had. It’s not just about numbers in a spreadsheet or selling a product. Your ex employee was knowing the people, the traditions, the location of important information, what his boss likes and lot of things that come from working for a company for a long time. All this things are vanished when someone quits.
It’s better to invest more time and money at first, because at long term employee will bring you more advantages than investing in short time employees. You have to keep in mind that every time an employee is leavening you lose time and money.
Choosing wisely a candidate and taking time for this it will help your business a lot. I totally agree with employing fewer employees, but of a higher quality. A HR recruiter has to see the potential of a future employee, his achievements from resume will not guarantee his performance in the company. High potential employee requires more investment, but in time you’re company will be reworded by his high quality work.