The hiring process is one of the most important things to get right in any business. Your short-term and long-term success depends upon it. The plain fact of the matter is that if you don’t find, hire, and retain the best talent, your business will fail to realize its full potential. In spite of this, so many companies all across the nation and around the world never sit down and give this the care and attention it requires to get it right. Below you’ll see what we’ve found to be four of the most common mistakes companies make when it comes to talent management, along with links to the articles we’ve published to learn how your company can do better.
1. Failing to Tackle Turnover
Employee turnover is estimated to drain a mind-boggling $5 trillion from the US economy each and every year. If your company has ever suffered from high turnover, then you know first-hand how painful it is. Tackling turnover requires a two-fold approach: First, it means putting some real time and effort into reviewing your hiring practices to make sure you make great hires to begin with. Secondly, it means doing everything you can to retain the great hires you make. The mistake companies make here is one of neglect, and it’s the gateway mistake that leads to all the others.
2. Failing to Overhaul Hiring Practices
There is a lot to pay attention to when your company finally sits down to make sure its hiring practices are helping instead of hurting. From avoiding common hiring pitfalls to eliminating bias from the hiring process to conducting high-quality interviews and checking references, each and every step of the hiring journey needs to be optimized for success. Read our top 6 articles about hiring and then make the commitment to transform how hiring happens at your company:
- Top Performers ARE Affordable!
- No Such Thing as an Unimportant Hire
- Is Your Hiring Process Biased? Probably – Here’s How to Fix it.
- Avoid Hiring Pitfalls
- Red Flags During the Interview
- Don’t Skip the References!
3. Failing to Improve Employee Retention
Some companies do step up to the plate, take a hard look at their hiring practices, and make positive changes that result in better hires. But then many of those same companies squander the progress they’ve made by doing nothing to make sure those great hires stick around. Hiring is only one side of the talent coin, and the other side is retention. What does your company do to make your workplace an engaging, challenging, inspiring environment that your top talent will never want to leave? If you need some great ideas on this topic, read our top 8 articles about boosting retention:
- You’ve Made a Great Hire, Now What?
- The Top 6 Quickest Ways to Lose Your Top Talent
- 12 Tips to Turbo-Charge Employee Recognition
- Retain Your Talent with a Carrot Culture
- To Coach, or to Mentor?
- Sharing is Caring
- When Conflict Rears Its Ugly Head
- How’s the Weather at Your Workplace?
4. Failing to Work with a Great Recruiter
If looking at all the aspects mentioned above about tackling turnover by overhauling your hiring practices and improving employee retention has you feeling overwhelmed, don’t feel like you have to go it alone. You might want to consider working with a recruiter who will help you make the great hires you need to keep your company moving in the right direction. If you do that, then you can focus more of your attention on boosting retention. Read our top 2 articles about working with recruiters:
- Increasing Use of Recruiters: But Who to Choose?
- Recruiting Agencies: The Good, The Bad and the Ugly
When your company takes the time to learn how to avoid these top four talent management mistakes, you’ll be well on your way to taking your company to a whole new level of success. If you’d like to find out how PainLessHire can help, contact us today!