Hiring good employees takes time, energy and money. Replacing good employees is even more expensive. To calculate employee turnover cost use 50% to 200% of an employee's annual salary.
Time is spent placing ads, going through resumes, and calling references. Energy is expended filling the vacancy yourself or paying overtime to have someone else do it. Money gushes from the vacant position like an uncapped water hydrant. Consider the money spent on advertising the opening. Then the cost of you doing job filling activities: reviewing resumes, contacting potential candidates, and so on. The time and money expended here does not improve your bottom line!
Spend the time, energy and money keeping your people.
Did I hear you say the employee was not a good hire? That's the subject of my next post.
Wednesday, December 30, 2009
Tuesday, December 29, 2009
Job Fit: A two way street
As you probably know, there are some really bad managers out there. So how are you supposed to know if you're being hired by someone who is competent or a nut? Three questions to ask a potential employer will help you determine what you can expect from anyone offering you a position.
First: What's the average length of time people stay in this position?
This important question will indicate how well the company retains its employees. A company with high turnover is a sure sign employees are not getting what they need to succeed. You can expect to keep the job the same as the average. Know this people leave bosses not jobs.
If you're not comfortable asking the interviewer, ask around the office: How long have you been here? Are there a lot of openings? Observe the office atmosphere. Are people happy? Chatty? Seem to enjoy being there?
The second question is this: Would it be possible to see a blank performance review? This will clarify corporate expectations and values. As well it should corroborate the interviewers description of the offered job responsibilities and expectations. Frequently new hires work for up to a year before encountering a surprising performance review.
Third ask: Who is my supervisor? In this answer you will find who ultimately controls your work and your future. Ask to meet your direct supervisor or training senior employee before accepting the job.
Write down all answers, in front of the interviewer. If you find the interviewer unwilling to share this information BEWARE! Any high caliber manager will welcome such questions. Weaker managers and business owners will bristle with offense and very likely ask why you need to know. The answers to these questions will indicate the company’s ability and intention to retain you, and reward your talents, and your efforts.
You may feel you have to take the job regardless of how the interviewer answers. If you do, you will know if you need to continue your job search while in their employ
First: What's the average length of time people stay in this position?
This important question will indicate how well the company retains its employees. A company with high turnover is a sure sign employees are not getting what they need to succeed. You can expect to keep the job the same as the average. Know this people leave bosses not jobs.
If you're not comfortable asking the interviewer, ask around the office: How long have you been here? Are there a lot of openings? Observe the office atmosphere. Are people happy? Chatty? Seem to enjoy being there?
The second question is this: Would it be possible to see a blank performance review? This will clarify corporate expectations and values. As well it should corroborate the interviewers description of the offered job responsibilities and expectations. Frequently new hires work for up to a year before encountering a surprising performance review.
Third ask: Who is my supervisor? In this answer you will find who ultimately controls your work and your future. Ask to meet your direct supervisor or training senior employee before accepting the job.
Write down all answers, in front of the interviewer. If you find the interviewer unwilling to share this information BEWARE! Any high caliber manager will welcome such questions. Weaker managers and business owners will bristle with offense and very likely ask why you need to know. The answers to these questions will indicate the company’s ability and intention to retain you, and reward your talents, and your efforts.
You may feel you have to take the job regardless of how the interviewer answers. If you do, you will know if you need to continue your job search while in their employ
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