Hiring Costs vs Employee Retention Strategies
Most executives will easily agree that the most important asset in their company is their people, yet very few companies actually have a formal system in place to ensure that they attract, select, promote and retain the best and the brightest. Companies that strive to build their teams with the best players are more capable of capitalizing on opportunities than their “talent-constrained” competitors. The following exercises take an honest look at the harsh penalties paid for making poor staffing decisions, increasing the cost of a mis-hire. Explore these ramifications and modify your employee retention strategies accordingly.