Recruitment to Retention
How to Select Good Staff & Keep Them
There is a common theme, both anecdotally and from surveys, that a significant challenge for many businesses and organisations is recruiting good staff and then keeping them motivated and productive.
It is self-evident that the people you recruit and retain will have a significant impact on the success of your enterprise. Good staff are more productive than average or mediocre staff and a poor hiring decision will cost a lot of money; with the losses being a function of the role and how long it takes to solve the issue.
Equally, hiring a good person and then losing them through poor management is also costly. Whenever a valued employee leaves, the cultural change and increased workload can cause pain for the entire team – factors which can cause employees to disengage and can have an adverse impact on morale.
Between separation costs, lost productivity, and time spent recruiting, the cost of losing and replacing an employee is significant. For example, the Society for Human Resource Management (SHRM) reported that on average it costs six to nine months of an employee’s salary to replace them. For an employee making $60,000 per year, that comes out to $30,000–$45,000.
But, irrespective of survey data and statistics, you only need to ask yourself whether it is a problem for you and your business.
Are any of these questions relevant to you?
- Have you made one too many poor recruitment decisions?
- Have you lost good employees prematurely?
- Do you have ongoing staff problems?
- Have you spent a lot of money on consultants only to keep having the same problems?
- How much time and money have you spent on training to “fix” people?
Any of these problems have significant costs attached to them. It costs a lot of money, and time, to successfully recruit someone, train them up to the point where they are productive, motivated, and engaged.
Selecting good staff and keeping them requires a three-step process:
- Effective recruitment and selection process
- Proper induction or onboarding
- Implementing an ongoing staff retention program
This solution is not difficult to implement and maintain; with the more difficult aspects occurring in the design and training phase.
A manager or leader does not have to be high energy or a visionary or a dynamic person to deliver this solution. This solution is not about “transforming” anyone or making someone a completely different person, but instead it can be used by anyone and once it is in place allows you to focus on your core business instead of being too distracted by staff issues.
Fermion is offering a pragmatic proactive solution that is easy to implement, empirically driven, and is the foundation for how to select good staff and keep them.
To arrange a personal presentation at your office, or via videoconferencing, please contact Christopher Apps at Fermion on 02-42853480 or 0401 752 602 or email@example.com.