Unfilled Job Positions Decreases Corporate Profitability – A Quantitative Look

Employees are vital to an organization and when job vacancies occur, it is in the best interest for the company to rehire as quickly as possible in order to avoid a disruption in team cohesiveness and the adverse financial impact on profitability and shareholder wealth.  Open positions are a cost detriment when not filled in a timely manner and to measure the lost economic opportunity, the following methodologies can be utilized:

Multiple of Compensation Method

The Multiple of Compensation Method values an employee based on their annual salary and is what the insurance industry utilizes to underwrite “key man” insurance policies.  In this method, a multiple between 3-7 times is typically applied to the annual salary of the individual.  The multiple applied depends on the type of business, the estimated difficulty in finding a qualified replacement and the responsibilities the job position entails. read more

Brand Equals Value in Recruitment

Your brand is your value. Branding isn’t just for marketing purposes to attract customers. It represents the strength and value of your company, and that means something when you are hiring – and potential recruits are looking at your company.

Relational hiring is the way in which you interact with potential candidates during the hiring process. But what are you doing to attract that one candidate you are searching for in a large talent pool? How are you using your brand to maximize the impact of recruits and to be competitive? It is your brand that helps attract and retain employees. read more

Recruiting for Training and Development

Talent acquisition for the various roles within your company is hard enough; add a specific skill set such as e-learning, training, or development and you may find yourself at a disadvantage. You need qualified, screened candidates who have proven skills and experience. Of course, you already know this because you are the person required to fill these job positions while enabling the company to quickly fill an open position with minimal downtime!

But there is a process enabling you to hire e-learning developers and instructional designers with more confidence. read more

Recruiting Agencies – Creating Partnerships

Staffing firms, search firms, headhunters, recruiting agencies…there are many names, but the bottom line is they each provide services that help companies with talent acquisition.

In our blog “Gain the Contract Staffing Edge” we quickly touched on what to search for when selecting a recruiting agency:

  • It understands your corporate culture and personnel requirements
  • It has an established structured recruiting process
  • It has a large database of active and passive candidates

But in this blog we are going to identify some specific best practices that will help you make an informed decision about what to look for in choosing a partner for your recruitment processing needs and company objectives. We will also look at how staffing agencies are going beyond simply filling a position to becoming an in-depth Recruitment Process Outsourcer (RPO) able to meet your goals on a much broader scale. read more

The Importance of Relational Hiring

“If you advertise the position, they will come.”

The problem is—they do! With an average of 89 applicants per posted position (Talent Acquisition Factbook 2011) and half of those unqualified, the task of finding viable and valuable job candidates is, at the least, highly time consuming. This is further complicated by the diversity of positions that need to be filled.

Hiring – technology versus relationship

Our last blog “Recruiting Tools for Hiring” looked at the various technologies that allow us to source, track, and manage potential job candidates for employment. But having the right tools doesn’t guarantee finding and hiring the right employee. One of the problems is that the recruitment process has become very mechanical. The daily routine of receive requisition; advertise; receive resume; email; phone screen; physical interview; and then make an offer leaves recruiters on a never-ending wheel and leaves candidates wondering, “Am I just a number in the recruiting process?” read more

Recruiting Tools for Hiring

Over the years the avenues of identifying potential qualified employees have grown, but the basic steps of hiring have not substantially changed, still consisting of advertising, reviewing resumes, pre-screening, and interviewing.

The dilemma for human resources and internal recruiters determining the best methodology for hiring qualified candidates while shortening the procurement cycle. Many companies still continue to advertise positions, but the venues for advertising have morphed from print and a few staffing agencies into technology-driven job boards, career sites, professional networks, search engine marketing and Candidate Relationship Management (CRM) technology in an attempt to quickly fill open positions. It seems that there are new technology partners constantly emerging on the web to use as sources of identifying potential new hires, such as Indeed, Glassdoor, SimplyHired and LinkedIn. read more

Gain the Contract Staffing Edge

Contract and direct hire employment – helping you compete in a global marketplace

Technology is constantly advancing and for businesses to grow and maintain a competitive edge, they often need talented technical staffing with certain key skill sets for projects such as:

The right human capital equals value added

The ability to be competitive starts with the “who” in your organization. In the book “Good to Great” Jim Collins and his research team identified one of the key points of great companies as “first getting the right people on the bus.” read more