One bad hire can cost your company more than you imagine!
“The employer generally gets the employees he deserves.”
J. Paul Getty
“Chances are good that up to 66% of your company’s hiring decisions will prove to be mistakes in the first 12 months.”
Peter Drucker, management consultant and author
Employee turnover can cost you up to 2½ times the employee’s annual compensation, regardless of level. So, for each $20,000 per year position that turns over, you could be losing up to $50,000. For a $50,000 position, you’re losing up to $125,000!
Why so high? Because of the direct costs associated with rehiring, loss of opportunities, and the waste of your managers’ time as they work through these issues.
Can you afford a $50,000 mistake?
Effective hiring means more than just interviews, which alone only yield a 14% success rate. With 20% annual turnover, it’ll take only five years for your entire workforce to be mediocre. Is this good enough for you?
Soaring Phoenix offers sophisticated, cost-effective methods to manage your most expensive asset: your employees. Discover new techniques and tools that assess personality traits, thinking skills, occupational interests. Background checks are a vital part of the package. Along with standard hiring interviews, we help you dramatically increase your hiring success rate.
Take Action: start making the changes you need to have the most productive, efficient, and happy workforce you can. We can help you create and develop any or all of the following:
- Effective Hiring Procedures
- Goal Setting and Recognition
- Job Satisfaction Surveys
- Training & Development
- Job Descriptions
- Compensation Structures
- Effective Employee Meetings
For
a free initial consultation, email
me or take a look at our Human
Capital Toolkit.
Business Consulting
