Hiring the Right Employees: The Key to Business Success
“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
Do you have the right employees on your team? Are your hiring and selection processes delivering low-turnover, high-impact employees? Do you have systems in place to help you retain your best people?
According to a recent survey, 66-75% of all employees
are dissatisfied in their current job. Dissatisfied employees are less productive and not giving the team their best efforts. How much are they leaving on the table? When you hire the right employees, productivity increases 64% for skilled trade workers and management productivity increases 96%!
Employee turnover represents one of the single largest under-reported costs in business. Terminating an unproductive employee, or replacing your valued members who depart on their own, can cost 50% to 5 times that person's salary. For sales staff, your costs are typically 2-3 times that rep's sales quota. How much is it worth to you to have the right person in the right job?
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The Crucial Questions to Finding and Developing the Right Employees
Even experienced managers can have challenges with human resources issues like hiring and developing employees. Too many managers rely on their experience or intuition to make essential decisions. When it comes to your employees, though, a wrong decision can cost you an incredible amount of time, money, and lost opportunities. To avoid these losses, take advantage of valuable assessment tools based on behavioral science findings. These tools help you manage employee risk by guiding you to objectively discover critical attributes that drive performance and evaluate risks that individual candidates may present.