Did you know that nearly 30% of new hires resign within the first 3 months of employment?
From employee hires, employee retention to dealing with HR processes and procedures, most organizations, even in the best of times, find this difficult. For a small business, there’s even less margin for error. With limited time, resources, human capital and understanding of legal compliance and regulations, these employers are constantly facing an uphill battle.
Finding the right candidate for an open position takes time and money, both challenges for a small business. Consider the following – on average it takes 23 days to find the right candidate. For more complex roles, this timeframe is even longer.
This is before we factor in time lost from onboarding the wrong individual. Without a process that eliminates hiring manager bias, highlights past behaviours and identifies cultural fits, a company can find itself back at the hiring table far too quickly. All told, onboarding a bad hire can end up costing a company nearly $15,000!
What contributes to higher recruiting and retention costs of a bad hire:
What’s the solution?
So, what can you do to protect yourself and your business? Make sure you create a checklist for hiring decisions, including:
Try outsourcing your HR needs to a professional organization like Varius Business Solutions. We’re a boutique, full-service firm that specializes in providing small businesses with a full suite of flexible HR solutions.
Ready to maximize the potential of your workforce? Give us a call or drop us a line via email to schedule an introductory consultation. info@variusbusinesssolutions.com
