This 2nd post is part of a 5 part series on “The Keys to Finding & Keeping Great People”
Stay tuned for helpful advice in upcoming blog posts!! For now…
What did you think? Were you frustrated? In last week's blog you were asked to think about 2 significant marketplace realities. These 2 realities have, and will continue to have, a profound impact on you. Are you ready for them? Here they are again.
- Supply and demand…more work than available talented people.
- The modern millennial employee.
Have you paused long enough to really count the cost of possibly not being prepared for these 2 realities?
Are you feeling the pain? Don't worry, we aren't just here to share statistics and frustrate you. Join us at our Lunch & Learn in Burlington on March 22nd to continue this discussion.
Here are the COSTLY IMPLICATIONS if you choose to NOT be prepared for an unforgivingly tight labor market and the cultural requirements of the millennial generation:
The cost of poor hires.
- 35% of the person’s annual salary. Forbes Sept 2016.
- 56% more stress on the team. Robert Half Mar 2017.
- 61% increase is time wasted in hiring and training. Robert Half Mar 2017.
- 30% increase in stress on the manager. Robert Half Mar 2017.
- 19% decrease in the team’s confidence in the managers' hiring ability. Robert Half Mar 2017.
The cost of a disengaged team.
Here is just a sampling of the cost of a disengaged team by Access Perks in their January 2018 employee engagement report:
- 15% of employees (worldwide) are engaged in their jobs.
- 51% of employees would quit if training was not offered.
- 86% of millennials will leave without an opportunity to grow.
- 75% of employees feel they could quickly get a new job.
- 80% of workers are either actively looking for a new job or would entertain an offer.
- 60% of employees have been approached to consider moving to another company.
- Managers who have received a low rating from their employees are 4x more likely to lose the employees.
Are you feeling the pain? Don't worry, we aren't just here to share statistics and frustrate you. Join us at our Lunch & Learn in Burlington on March 22nd to continue this discussion.
The numbers can be overwhelming. If you choose to remain ill-equipped in how to prepare yourself and your team well, you will pay the price.
In the midst of what can seem to be hopeless, it is crucial that you know that there IS hope. There are clear steps you can take to help lead through the pressing realities of the marketplace.
It is possible for you to lead yourself and your business in a way that can attract and keep GREAT PEOPLE. It IS possible!
The first step of embracing what is possible is to count the cost of choosing to tolerate poor hires and a disengaged team. Luke 14:25-34 NIV.
Are you feeling the pain? Are you counting the cost?
Stay tuned for helpful advice in upcoming blog posts!!
JOIN US AT OUR LUNCH & LEARN
A Deliberate Application:
- Download & Review the infographic we have created to see the bigger picture
- Review the 12 costs. What surprised you?
- What’s the cost if you do nothing - on you, your business, team, family?
- Are you OK with this?
- Who can you share this with?
