Category: Hiring & Employer Strategy

Good service, bad service both come with a price

By James M. Carchidi  – Central Penn Business Journal

Does a staffing agency’s pricing structure reflect the value it provides to its customers? What is the trade off for price cutting? Poor quality, waiting in limbo for services to be executed or maybe the staffing agency focuses attention toward their more profitable accounts.

Let’s be realistic here. To meet your needs in a timely manner — without compromising processes or selection criteria — staffing agencies must maintain a fair return on investment. Any agency that commits to a blue-light special, rock-bottom rate is ultimately doing your company a disservice.

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Imagine Being Successul Only 46% of the Time

What’s Your Cost of Turnover? 

Research by Leadership IQ tracked 20,000 new hires and found that 46% of them failed within 18 months.

  • Imagine if a comparable failure rate happened on the manufacturing floor.
  • Imagine if the invoices you sent to customers were only accurate 46% of the time.
  • Imagine if the payroll checks you issued to employees were only accurate 46% of the time.

Hiring Mistakes Are Costly:

Hiring is a tough business. It takes patience, proper screening and careful analysis. It’s going to take some time to find the one who really fits the bill.

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Mad formal executive man yelling at camera

EPIC FAILURE: Today’s Management

What can management do today to make their people more valuable than they were yesterday?

To manage is so 20th century. In today’s business climate you must integrate coaching into your repertoire. Gone are the days when you could simply direct individuals on what to do. Now we must also serve as coach. In this role you are no longer telling, you are now asking.

Currently, 30% of the U.S. workforce is engaged in their work, and the ratio of engaged to actively disengaged employees is roughly 2-to-1, meaning that the vast majority of U.S. workers (70%) are not reaching their full potential…” Jim Clifton, CEO at Gallup, The State of the American Workplace Report

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WARNING: This May Blow Your Mind

YOUR HIRING MAY BE DESTROYING YOUR BUSINESS:

The Harvard Business Review points out that as much as 80% of employee turnover is due to bad hiring decisions.

The Labor Department estimates it can cost on average one-third of a new hire’s annual salary to replace him or her and that those costs increase the higher up in the organization the turnover occurs. In some cases, it can total in the millions of dollars if that person is the CEO.

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