Now that the economy had gone past the petered out stage, businesses are starting to look for that light at the end of the tunnel. Will we get out of the muck soon? No one can answer that truthfully; however, we all understand things will take time.
In the meantime, my firm is dealing with a handful of clients that are taking advantage of the talent pool now being made available to them. And not all have been acquiring new employees from the jobless ranks; that's right, people are jumping ship for new opportunities. Perhaps for a change, to get out of the 'routine' they are in; perhaps for a few more dollars (it's not that rare); perhaps because they hear a certain competitor in their space does more for their employees. C'mon, admit it - wouldn't you listen if an industry recruiter called you to discuss an exciting new opportunity?
With that said, what is management doing in their organization to retain valuable employees? I've read articles telling managers to say thanks for a job well done; to keep the lines of communication open; to involve their team members more. Well, there's a lot more to that. And that's what a CRO can do - or at least a senior-level manager tasked with these responsibilities. In these challenging times, companies are expecting more from their staff than ever before. And every person is even more critical now to ensure deliverables are met competently and in a timely fashion. The smarter CEO's get this; take a look at this article about Tony Hsieh from Zappos.com. Not all companies can do everything he has, but there are many ideas which are easy to implement that many others haven't.
Go ahead - ask your VP of HR the underlying costs encurred of hiring a new employee. Once you add up: the severance package for the person going out, training for the new employee, productivity loss during the time he/she is ramping up, and possibly a placement fee for an agency that sourced the candidate - you will realize quickly this is not a desirable option. Worse case, this can significantly have adverse effects on a company's bottom line if not kept in check.
So, a CRO can not only save a company money, they can keep morale up and ensure a positive environment. Which would lead people to be more productive. And create an atmosphere for prospective candidates outside the organization to want to join your firm, instead of thinking to leave you. Not a bad situation to be in...
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