Article Written By:

Bill Schult, President of Believe & Succeed Inc.

November 11,1999

Many companies and organizations are experiencing the pains and problems of working to attract and retain the right people for the job. If you are like them you may well be disappointed with your results. These same companies and organizations are having problems identifying those candidates who have the best opportunity to succeed in a specific job. Do you seem to find yourself identifying with them?

In today's business climate it doesn't make any difference what business you are in. You, like other business owners, CEO's and managers are under the gun to hire and retain top performing people.

Your challenge is to find these top performing people in an environment that has the lowest unemployment in modern times. You probably need people with various levels of technical skills, people skills and intellectual abilities to compete in your marketplace.

It may be time for you to consider evaluating the process your company or organization presently uses to hire and retain top performing people. To compete for today's top performers you will need to acquire and use the latest in processes, ideas, tools and technology to help you find, and select those top performers who can help your company or organization flourish.

You may not have thought about the cost of employee turnover recently, but it lurks inside every company and organization. In fact, turnover costs combined with poor quality and low productivity cost companies and organizations far more than investing in a results orients hiring system.

A Fortune 500 company said it costs $255,000.00 to find, interview, hire, train and have little or no results from a sales representative. These costs include lost business or production, figures most companies and organizations fail to include in any of their job turnover cost estimates.

Another major financial institution, when asked, stated the last cost of job turnover they had done was in 1929. They are in the business of managing money and helping other businesses manage their money and they haven't realized the financial impact employee turnover has on their bottom line.

When all the important factors included in the selection process; advertising, interviewing, training, little or no productivity and all the HR administrative items related to getting the candidate employed the costs of turning over even an hourly position becomes costly.

The purpose and goal of the articles you will see here is to help you become better informed and effective in your most important task- hiring the right person or persons for the job. When you achieve the goal of making more right hires everything else in your company or organization gets better. Better productivity, better communication, better customer relations, better sales results and of course, better company or organizational profits.