One of the highest costs a company faces is the recruitment of talented employees. To keep those costs in line Human Resources professionals need to understand why new recruits resign within 60 days of hiring. Pollster Amacon conducted a survey to find the top seven.
Figures show the continuing Michigan recession has reduced turnover rates. However, turnover of skilled labor and those earning less than $11.50 per hour remains high. Therefore it is important, especially given the pressure on business expenses, to understand the reasons for new hire failures and to develop a plan to engage employees from day one.
Here are the leading reasons for the 60 day failure rate. Click on the topic or go through the attach list to read more about each.
Replacing an employee can cost one-and-a-half to two-and-a-half times the annual pay for the position when all factors are considered.
One of the most effective ways to reduce the cost is through the effective use of pre-hire assessments according to William Williams of Max Impact in Rochester Hills.
“Assessments accurately identify job fit, ability to work in the company’s culture, and the candidate’s integrity, work ethic, propensity for drug and internet abuse, and reliability,” says Williams.
- Employment Diversity In Michigan , a networking group on Linked In.
- Culture Bridges are a look at the contents of the character within each of us. Information is contained on more than 20 different categories of culture.
- Cultural Faux Pas is an interesting quiz about marketing mistakes made by others.
- Culture Quizzes allow you to test your cultural IQ with fun and informative quizzes.
- Life’ Leadership Lessons by Rick Weaver- 53 anecdotal leadership lessons. Paperback, e-book, Kindle.
Top books for those in leadership
- First, Break All the Rules: What the world's greatest managers do differently.
- 101 Tough Conversations to Have with Employees: A manager's guide to addressing performance, conduct and discipline challenges.
- The Servant Leader: How to build a creative team, develop great morale, and improve bottom-line performance.
- The 21 Irrefutable Laws of Leadership: Follow them and people will follow you.
- The Ant and the Elephant: Leadership for the self.
- The New Leader's 100-Day Action Plan: How to take charge, build your team, and get immediate results