Thursday, 31 May 2012
There has been a great deal of media attention on cost of human resources and the amount of money spent on hiring practices. What these articles fail to mention is employee retention costs and the cost spent on training new employees that do not work out for certain jobs. Why do candidates leave new positions? Did the hiring manager ever discuss the career path or what the overall expectations for these positions are? A new job opportunity should be more than just matching key words with job descriptions. A significant amount of candidates have told us that hiring managers do not discuss candidates overall goals and where they see themselves in 5 years. We recommend all of our candidates to discuss these factors on interviews.
Make sure this is the right company, career path, firm culture and environment candidates see themselves part of on a long term basis. By having hiring managers discuss these objectives with candidates, redundancy is often avoided. Training and re-training different candidates for the same position can be very time consuming and expensive to companies. Cutting down retention cost should be a top priority in organizations; this will help improve the overall hiring cost.