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Does Your CEO Know that You Just Cost the Company $300K????

Remember when you were young and just starting your adult life and you said that you wanted to get married, but you wanted to wait a while "until we can afford it"? Or when you were a newlywed and people started asking you what your plans were for having kids, and you answered with, "We've discussed it and we're going to wait until we can afford it."  In both of these situations, you most likely realized that if you waited until you could afford it, you would never get married or have kids...so you did it anyway.

Life has a way of imposing costs on you if you can afford it or not. Having a blow out going down the highway and having to replace a tire. The A/C going out in the middle of a hot Texas summer. An unexpected trip to the emergency room. Can you imagine sitting in the middle of a highway with a blown out tire...people coming up to ask if you need any help, and you reply with "No. I'm good. I'm just going to sit here until I can afford a new tire."? Of course not. When things happen, we respond and do what we have to do if we like it or can afford it.

Now, go with me on this...

Companies have issues with recruiting the right people to join them. Not all companies, but a whole heap of them do! It is evident by high turnover rates, low production, and overpaying for the people you do have. You sometimes dismiss it by saying that it's always been that way, but the question should be...Is this the way it has to be?

My job...my company...is to help organizations optimize their recruitment efforts in a way that turnover and recruitment costs are minimized. I do that through a thorough evaluation of that organization's recruitment strategies, processes, technologies, metrics, people, social media, etc. and then make recommendations to streamline and make them more effective and efficient. I've done this over and over and over again with great success. I can have reduced turnover by 20-30%   on multiple occasions, and I've given multiple companies significant ROIs (some even into the millions). Yet, people tell me that they can't afford my services (without even knowing what I charge...and let me assure you, it's not much), and that they don't have time (without even knowing how much time would need to be invested in solving major problems for them).

For those HR leaders who are saying that you can't afford it, let me give you just a bit of information here to show that you can afford it.

  • Research shows that it costs you 20% of someone's salary each time and employee leaves your company. I personally think that is a little low, but we'll use it anyway.
  • Let's say that you lose 1 employee making $50,000. According to this research, it will cost you $10,000 to replace that employee. (recruiting costs, interview costs, training costs, lowered productivity, lost knowledge, overworked remaining staff, diminished morale, etc.) AND THAT'S IF YOU AREN'T USING AN AGENCY TO REPLACE THEM!
  • If your company lost 10 employees this year, that would be $100,000 spent to replace them. If your company were to lose 100 employees this year, that's $1 million!
  • If I could do for you what I have done for others and drop that number by 30%, for the company that lost 10 employees - that's a $30,000 savings. If you lost the 100 employees, I just gave you back $300,000.
  • AND, that's a year over year savings! I can also assure you, I never charge anywhere near that kind of money!

Still think you can't afford it? What if I told you that all I need from you is 8 hours (1 day) to gather information so I can prepare recommendations for your company? You can't give up 1 day in order to save your company huge amounts of money? Does your CEO know that????

If you wait until you can "afford it," that day is here. Contact me and let me explain to you how this works, how much it costs, and what you can expect. It's worth it! info@dx2consulting.com

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Tags: Corporate Recruiting, Human Resources, acquisition, attrition, human, recruiting, resources, roi, talent, turnover

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