Employee referral programs are getting good press recently and the reasons are hard to ignore:74% of recruiters said the best quality candidates come from employee referrals 51% of employers say referred hires a better fit culturally and match values better than other hires Employees referred by other employees stay with organizations longer Time to hire for employee referred candidates is 55% faster than candidates sourced elsewhere
Finding skilled talent that fits with your culture can be difficult, but as these statistics show, your employees hold some answers. Structured or not, emphasizing referrals to your already skilled workforce can quickly reap some benefits. [...]
It is a well-known and unfortunate truth that human error is one of the greatest obstacles to achieving organizational success. We see the detriment of human error in the form of money lost and time wasted. To a certain degree, it is inherent in almost every single organization, but savvy companies, both large and small, are utilizing technology to their advantage in the constant fight for excellence.
Human error costs us money on a daily basis. A company with 100,000 employees loses a staggering average of $62.4 million per year through human error, and each year it costs the UK and the USA combined a total of $37 billion. Case studies and unfortunate episodes appear [...]
Onboarding is important: Time is money and the time it takes to get your new employee up and running can cost you big. Recruiting, training, benefits and workplace integration are just a few of the costs of your new hire. The full cost to get your new employee completely integrated into your workforce can be between 1.5x and 3x their salary.
Finding your new hire can end up being easier than getting them to stay, so how do you make sure your investment does not go to waste? It all starts before they even walk in the door, with your onboarding process.Employee retention & addressing employee turnover
The cost and time involved in the recruitment process makes [...]
And the secret is! (drum roll please)
Michael Scott Drumroll drum roll Onboarding! YAY!
Don’t let the confetti distract you too much. Employee retention can make or break an organization! Replacing a salaried employee can cost 6 to 9 months of that employee’s salary. For a manager making $40,000 a year, it can cost between $20,000 and $30,000 to recruit and train a new hire. That is why up to 73% of organizations revitalize their onboarding process so they can improve employee retention.
How does a company revamp their onboarding process? Let’s start from the beginning, or before the beginning.Best Day Before the [...]