The team here at Brookwoods Group would like to share a very interesting article by Marcel Schwantes with you. The article, posted by Inc. discusses how many people plan to leave their jobs and why. The author queried professionals responsible for hiring and hiring budgets for this article. Team managers should really pay attention because the cost to replace an employee is very expensive, as outlined in this article.
This article points out that many people, over 60%, site their manager as the reason they would consider leaving their position. But I believe that some of this dissatisfaction can be minimized during the hiring process. If more companies stopped trying to procure people in the same way that they do inventory and started looking for top talent that will be a great fit for your organization and a great fit for the team, there would be far less turnover. Even before asking why people are leaving your organization, you need to take a hard look at why people actually want to work for you and if they will actually be a good fit. This is often overlooked since companies now rely so heavily on various hiring tools that eliminate the human factor for most of the hiring process. Cost has become the #1 focus in recent years for hiring and tools keep that cost down, but at what real cost to your company? Is the cost of a bad hire really worth some upfront savings? http://brookwoods.com/five-stages-of-grief-over-a-bad-hire/
Working with partners that help you find the right person by taking time to thoroughly screen and assess talent are proving more than ever to be worth your investment. Make sure your partners have experience and knowledge of your company and the roles they’ll be filling for you, then spend a little time with them to go over the necessary skills and more importantly the soft skills and personality needed for the team. This makes all of the difference in the world. Then, once you bring the right individual onto your team, walk them through the on-boarding process to insure a smooth transition and a great long term fit.