“First-rate men hire first-rate men; second-rate men hire third rate men.” –Leo Rosten
Not sure how to attract and retain the best employees for your business? It comes down to building a foundation of core values and setting an example from a leadership standpoint.
Looking at the cost calculation of employee turnover can be a scary thing. Studies show that the cost of a bad hire ranges anywhere from one to five times the annual salary of the employee. Keeping turnover at a minimum could save you thousands and help preserve the health of the company at large. Here are some tips for investing in your people and attracting a larger talent pool of passionate applicants.
Hire character, train skill. All of the best-run companies know that the interview jargon and resume fluff only goes so far. Yet, at the end of the day it is the person behind the position that makes the most difference for a company. Think about it, who you are is a large part of who you are at work.
Create a training program. A great way to invest in your people while also getting to know potential hires is by offering a training program in which, candidates participate in classes, speaker series, and exercises that will increase their overall performance if hired. This is also a great way to educate current employees in fields outside of their core competence.
Promote your company’s perks. Most agree that there are plenty of pursuits more exciting, intriguing, and stimulating than the labor they’re paid to do. But, by offering perks that rival those of the companies on Fortune’s Best 100 Places to Work list, you in turn, could attract a much larger and more passionate pool of applicants.
Accomplishments. When reviewing resumes or conducting interviews, look for applicants who mention passion projects related to your industry. These are people who love the space in which your business functions.
If nothing else, remember this: you will attract wiser, more passionate people if you lead by example and offer a work environment that fosters employee growth and satisfaction. Some of the most profitable businesses work around the clock to make sure their employees are happy. It’s this attention to detail that puts an uncontrollable spring in an employees step and a boost in profits in the employers pocket.