Inc.com: 7 Ways to Cut Your Turnover Costs and Boost Morale
Pinstripe & Ochre House CEO, Sue Marks, was spotlighted in a recent editorial from Inc.com. The article, 7 Ways to Cut Your Turnover Costs and Boost Morale, explores the benefits of strategic recruitment and, most notably, recruitment prevention. According to Sue, 70% of recruitment is unnecessary; she shares insight into how organizations can avoid “wasting time and energy" on ineffective recruitment.
Excerpts from the article:
Use external recruiters that keep their promises. How does a recruiter grow her business? Through adding new clients, and increasing the number of hires with their current clients. The latter is a sign that a recruiter isn't hiring focused on your business needs. Good recruiters should mean that your need for recruiters drops. "If we're doing our job, hiring goes down," says Marks says of Pinstripe & Ochre House. "We should, over time, see the number of hires go down given a constant business environment. Most of our competitors like screwed up companies because the more screwed up you are the more money you make."
Don't hire for who people are, but for who they can become. "We hire people for what they've done. And then six months later, we fire them for who they are." Too much focus on the resume and strict requirements, means that you get someone who can do X, but may not meet your company's needs in the future.
Identify your current star employees. Marks always asks clients, who are your star employees, and what is it about them that make them such great employees at your company? And then you get consistency of four or five people. Once you've identified those people, identify their characteristics, and use those characteristics as your guideline for your next hires. If you haven't identified what makes someone a star, how will you know enough to hire the next star?