Employee turnover costs are often described with generic numbers such as “$X,000.00 per employee” or “X% of annual salary” (actual dollar amounts and percentages vary from source to source). It is tempting to go with simple sound bites like these, but keep in mind that they are based on averages. These overall tendencies probably don’t accurately describe your specific organization, department, or team.
The following is a simple but detailed method of computing the cost of employee turnover. The main factors in this calculation (aside from specific costs) are time and money involved with a departing employee, such as:
- Time spent on filling the vacant position;
- Hours/weeks in lost productivity before the employee leaves
- Time that coworkers and the manager/supervisor combined will need to make up for the vacant employee (overtime, added shifts, etc.);
- Number of hours in lost productivity resulting from orientation and training of a new employee; and
- Time spent on admin and hiring tasks (advertising, resume screening, interviewing, onboarding).
We can directly translate between time and money (time = $) to provide specific costs by multiplying hours by hourly wage for different types of employees, tasks, and responsibilities. The numbers that you provide can either be averages for your organization, department, or team, or they can be specific to a single turnover event. The calculation will total all the time and costs spent with every employee turnover so you can determine what the final cost is for your business.
Here are the steps to calculate all of this: keep reading…
Inspired by Valv, The Motley Fool has released an online employee handbook, one of the most memorable you’ve ever seen, so much so that it’s as much a recruiting tool as it is a set of rules. keep reading…
Pep Boys has sent a new career site live, one aimed at attracting people with a customer-service mentality.
Pep Boys, which operates in 35 states in the U.S. as well as in Puerto Rico, wants to be known for having great customer service.
That effort has been a couple of years in the making. keep reading…
Paul DeBettignies recently published an ERE.net post titled, “Informal Survey: 1 In 10 IT Recruiting Inquiries Do Not Suck,” which generated several comments about increasing InMail response rates. Todd recommended everyone read this post, but a few recruiters said the tips it provides are “basic.” So I asked Todd if I could share five tips — some new, some oldies but goodies — my team and some of our customers use to increase InMail response rates. Here you go: keep reading…
A career site for developers has a new interviewing guide out for evaluating a candidate’s Rails knowledge.
It’s not meant as a list of questions a candidate must know the answer to, but as more of a sample interview question page.
Here’s the link.
Recently, I showed you how Jobvite’s latest survey revealed that recruiting via social media is increasing. Ten percent of respondents said they found their “favorite or best” job through Facebook; 6 percent found it through LinkedIn and 5 percent through Twitter. As for recruiters, 94 percent of them are on LinkedIn and 65 percent are active on Facebook — and, most importantly, 78 percent say they’ve made a hire through a social network.
In addition, social media is a great way for recruiters to engage passive candidates. There are some great new tools that integrate social media into your talent acquisition efforts. Here are my favorites. Before I start, let me say that this isn’t an exhaustive list meant to exclude; it’s merely meant as some good examples! keep reading…
The candidate experience at job fairs hasn’t changed much in the last 20 years. Booths have gotten bigger, with more creative use of space, but the concept is still the same — attendees line up, talk to a company rep for two or three minutes and walk off with a paper brochure. If they’re lucky, they get a chance to interview in a makeshift, curtain-walled office flanked by three other candidates doing the same thing.
In this environment, candidates often don’t have an opportunity to engage with the company culture, understand the direction of the business, or clearly see the reasons why they should join.
With a key university job fair approaching, a crack team of three Hershey employees — myself, a graphic designer, and a university relations analyst — decided we were going to attempt to improve candidate engagement by taking a more modern approach. After a quick ideation session, we landed on an idea to experiment with augmented reality technology. keep reading…
Among the most common requests we’ve gotten over the last decade and a half is for data that’ll help you compare your department to others, gauge the state of the profession, and just get a sense of how your peers tend to do things. We’re compiling this information, and we’d love for you to take a survey that’ll help. By taking the State of Recruiting survey, you’ll get a summary of results emailed to you.
Topics include everything from:
- What you outsource and what you don’t
- Who your department reports to
- Who your department should report to
- The metrics you pay attention to
- Whether your department is growing or not
- How you decide if a hire was a quality one
… and more.
Click here to take the survey. We’ll present the full results at a special session at the first day of the ERE Recruiting Conference & Expo in San Diego.
Hiring a good sourcer is difficult. Identifying new sourcers who do not have experience in the recruiting function is even more difficult. If you’re trying to build a team of sourcers, consider targeting these professional backgrounds: keep reading…
New assistance is out from the U.S. government on the use of background checks.
The U.S. Equal Employment Opportunity Commission and the U.S. Federal Trade Commission co-published the documents. Fortunately, they’re written pretty clearly, and have a good set of links for more information.
There’s a link for employer information as well as a page for job seekers and current employees.
If you’re following the action on the new disabilities and veterans hiring guidelines in the U.S., there’s a new site that may help a bit.
This one’s coming from the Office of Federal Contract Compliance Programs, and it’s simply a list of resources to help you when sourcing and hiring people with disabilities and/or veterans.
The info is divided into categories: accommodations; tax incentives; inclusive environments; disabilities, and veterans.
While I’m at it, in case you’re a service provider yourself, here’s a link to information on getting on the resource list.
If you opened that PDF where big companies were sharing their practices in hiring and employing people with disabilities, you saw a reference to a disabilities toolkit Cornell University helped develop.
In case you wanted to check it out, here’s a link to it. The website, which Cornell shares with its managers, includes short tips on hiring people with disabilities; accommodations; mental illness/addiction; and “the case for inclusiveness.”
There are some not-terribly-new ideas in a new 24-page PDF about disabilities. But, there are some good nuggets in the workbook, too, so it’s worth a look at this freebie from the U.S. Chamber of Commerce and the U.S. Business Leadership Network. keep reading…
A sweeping set of suggestions for college recruiting has been released by the National Association of Colleges and Employers.
The useful PDF includes guidelines for university relations, marketing & branding, candidate sourcing & assessment, onboarding, legal issues, and more. You’ll find some good metrics.
In development since last year, it’s essentially a set of practices organizations could follow in their college recruiting programs, and in assessing how well those programs are working.
Private-sector companies like Raytheon, KPMG, BP, and EY helped in putting together the guide.
Ever wondered what recruiters are tweeting about, and whose tweets are most being retweeted?
A company called Leadtail put together a report for us on just that. Leadtail studied 310 U.S.-based recruiters (about half in house, about half from agencies) from March 21 to June 20 of this year, totaling 55,576 tweets.
These recruiters reached 835,336 followers. Here are some of the findings. keep reading…
U.S. Cellular is helping employees losing jobs in the sale of some segments of its business to Sprint by setting up a transition portal.
A recruitment advertising/communications agency called Shaker helped develop the portal, aimed at 765 “associates” impacted; Kensington International, an outplacement firm, also partnered.
U.S. Cellular is also working with a group called Skills for Chicagoland’s Future. It’s a non-profit that provides placement and training services.
Back to the portal: it includes information on negotiation strategies; resume and cover-letter tips; interviewing assistance, and social networking guides. Let’s take a brief look inside. keep reading…
I’ve got an in-depth, 2,800-word article about implementing talent acquisition systems coming up in the November Journal of Corporate Recruiting Leadership.
For now, let me give you some of the highlights. keep reading…
Some old standbys used to attract and keep execs are not being relied upon as frequently, according to an ExecuNet survey of 476 search firm consultants and corporate human resources professionals.
Here’s the data comparing this year and last. keep reading…