Tag Archives: retention

Calculating the cost of a vacancy (COV) is a critical activity, one that’s necessary to determine the actual business impact of talent shortages that result from a gap between the time talent is needed and the time required by the recruiting function to supply such talent. As a metric, it …

When the economy turns around next year, retention will almost instantly go from being a non-issue to a major issue. But because most HR departments currently miss the boat when it comes to measuring and reporting turnover, they are likely to compound the increased turnover problem by underreporting turnover and …

People who really know recruiting also know that the best way to understand the overall recruiting process is to visualize it as a subset of the common business practices of supply chain management, Six-Sigma quality and customer relationship management (CRM). Recruiting cannot reach its optimal impact, nor can it help …

If you ask average employees what percentage of their time they spend “doing what they do best,” most answer a disheartening 30%. If this was baseball, and you had your pitcher playing first base two-thirds of the time, everyone would think you were crazy. Well in business, it’s no different. …

One of the primary questions in the minds of candidates is “Where will I be two years from now?” Unfortunately, most recruiters and managers respond to that question with meaningless generalities like, “You’ll have lots of opportunities.” In fact, what candidates actually want is a realistic preview of where they …

A lot of professionals are missing the boat when they look at retention as a single issue.

HR people are constantly looking for new tools. Attached is a list of proactive HR planning tools that might help you to improve your companies competitive advantage. Share it with your VP HR.

Retaining key employees is one of the hottest Human Resource issues companies are facing today. Numerous studies have identified the reasons why employees leave their jobs. Perhaps surprisingly, the key reason employees leave is not compensation. In a similar vein, studies show that the key reason applicants accept new jobs is not …

It’s relatively easy and cheap to solve most retention problems. Most workers really don’t leave for money. Managers like to hear that “it’s the money” because that shifts the “blame” for losing employees away from managers to the compensation department! Employees often do say, “it’s the money” because that preserves …

Chances are if you only include these limiting factors (e.g. recruiting time, HR's time to review resumes, training, benefits, etc.) you will underestimate turnover costs dramatically!