Getting Recruitment right makes good economic sense.
Recruiting and retaining good staff is the best method of reducing turnover costs.
Finding and keeping good people is a major challenge facing businesses today. To calculate your company’s overall turnover rate there are various ways to calculate the cost per individual position.
Points that need to be considered are:-
1. Employees, who plan to leave, generally are not as productive as other employees. Additional administrative costs can be occurred, exit interviews, notice periods not worked and in worse case scenario potential legal claims.
2. Cost to companies while the vacancy remains vacant – lost production, overtime for other staff members and/or outsourcing of the work.
3. Cost of advertising and recruitment fees. The whole processes of selection needs to include – internal meetings, screening, tests, reference checking, staff time and resources to undertake the work. Not forgetting possible relocation costs, company cars and other benefits.
4. Most new staff will require at least induction training and on the job training costs can be occurred on internal and external training.
Employers invest a considerable amount of time and effort into recruiting the right caliber of individual to their business. Also, it is not just the financial costs involved but there is a need to ensure that the new employee ‘fits’ the team and company culture.
Managers today have many competing priorities and demands on their time. Recruitment of staff takes considerable effort and employment decisions can be based upon experience based instinct.
Today, with the help of what are considered to be essential modern scientific tools, you can reduce the risk element considerably to the recruitment process.
Your business will benefit by receiving detailed reports that will give you insight into the person you are considering employing...
We're confident that by making this investment into your recruitment process, your business will not only maximize return on human resources, but it will motivate and stimulate employees, improve skill levels, improve staff satisfaction and retention rates.
|
