Finding and hiring top quality employees, as hard as it is, only corrects part of the problem. Retaining this talent long enough is usually the hardest part. More often than not, traditional hiring practices are to be blamed for employee attrition.
New employees are expensive!
In the forefront of our minds we know that costs associated with finding and hiring an employee are huge. However, the hidden costs of training and low output during ramp up time are what makes every new employee an expensive prospect. Conservative estimates for these costs are about two and a half times the total compensation including all benefits. This cost is amortized over the time period the new employee spends in the organization.
They did so well in the interviews - What happened?
Traditionally, people are hired based on their experience and knowledge. Very little emphasis is placed on how well they fit into the culture of the particular organization. However, lack of culture fit is usually the main reason that the employee doesn't perform as expected, or leaves quickly. Research shows that considering culture fit while hiring results in better job performance, satisfaction, organizational commitment and reduced turnover. Care can also be taken to emphasize diversity and inclusion during the hiring process.
Perfecting the Perfect Hire!
Our free whitepaper, Perfecting the Perfect Hire goes into detail about why employees leave early, and what you can do during the hiring process to cut down on this. Our proprietary recruiting methodology, X-FACTOR, takes the organizational culture fit into account among other metrics, there by ensuring that the candidate is indeed perfect for the job. Download the whitepaper below!
Ready to hire the right person? Contact us to let us help you! Based on this article, we recommend you read: Find and Hire Quality Employees in a Tight Market, The Value of Personality in the Perfect Hire, and Top Talent Without the Hassle.
NEXTAFF helps companies Hire Quality Employees. By offering a complete range of temporary staffing agency services, we help your company – no matter where you are in your business evolution – raise productivity through hiring better quality employees. We are able to service all your staffing agency needs with local staffing offices in Raleigh-NC, Overland Park-KS, Kansas City-MO, Houston-TX, Gulf Coast-MS, Phoenix-AZ, Orlando-FL, Harrisburg-PA and Miami-FL.
