people-are-your-best-investment

Let’s face it…hiring is often done when someone quits and the organization is under the gun to replace a person quickly because organizations no longer carry excess people.  With no fat to pick up the slack, managers rush to get a “body” to fill a hole.  As an employee retention expert, I see managers who do not evaluate what they truly need in the role and therefore do not capitalize on a golden opportunity to pick the best candidate.

Would you buy a $180,000 piece of equipment without thoroughly deciding on specifications and what you needed that piece of equipment to do?  No way!  I remember arguing for hours in a staff meeting about the features we wanted on the new coffee maker!  If you hire someone and pay them $30,000 and expect them to stay with the organization for only 3 years, you have just decided to invest $180,000 in a human asset.  I don’t know about you….but when I purchase something for $180,000 I do my homework and know what I need and how I am going to evaluate if it is the right thing!

When working as an employee retention speaker, I tell my audiences there is a simple way to make sure you get the right people…use a systematic approach that uses the following elements.  I tell them that this should be a part of the employee retention strategies in their organization

  • Know what you need …that may be different from what you want and what you can afford!
  • Train the people who are involved in the selection process.
  • Assess for fit…not just for skills.
  • Don’t over hire.

As the labor shortage begins to loom with the retirement of the baby boomers, the need to have your hiring process in place is absolutely critical.  Now is the time to look at your hiring processes….not when you are in a frenzy and not when someone quits!