“If you think it’s expensive to hire a professional, wait until you hire an amateur” – Red Adair
By Marc Cohen, Director at ConSol Partners
A growing business depends on being able to attract the best talent in their industry to contribute to their future. But often overlooked, both by growing business and those looking to maintain their present scale, is the importance of retaining and motivating the people who you’ve worked hard to get through your doors. The consequences of high staff churn can be devastating, with money lost in productivity, increased recruitment and selection costs, wasted investment in training and a legacy of demoralization and disruption in the team.
This is particularly important in the technology/digital industries, where innovation, consistency and longevity are imperative for staying ahead of the ever evolving competition. In this modern age we are always online, and employees or prospective hires are constantly tantalised by new and exciting opportunities. As an employer you compete with this on a daily basis whether you know it or not. A recent survey by a UK employment website* yielded these figures…
• 70% of employees are either actively searching for or open to a new opportunity
• 69% say searching for new opportunities is part of their regular routine
• 30% search for new jobs on a weekly basis
Take one of our biggest clients, tech giant Cisco. In a recent interview with HR Grapevine, CEO Phil Turner expressed that talent should be the primary priority for technology firms. So how do you go about hiring the best people available, and keeping them happy?