Talent - Getting the People Wrong Carries Great Cost
Getting the people right is critical. You waste valuable capital when you hire or lose the wrong people - capital that is better spent on product development, sales and marketing initiatives.
The cost of losing an employee can range from tens of thousands of dollars to 1.5–2.0x the employee’s annual salary.
Plus the impact on morale, management distractions and customer relationships. Can you really afford unplanned attrition or a bad hire?
What is your companies turnover rate and how does it compare in your industry?
The Technology Industry (Software) has the highest employee turnover rate @ ~13.2%.
(source: LinkedIn Survey).
Approach - You Can't Scale Without Consistent Processes
50 percent of employees left their job to get away from their manager to improve their overall life.
Do your managers have the skills, training and effective processes that encourage employee success and engagement?
Goals - You May Not Be Focused on the Right Candidates
Long-term success may require a more deliberate effort to focus on new and different employee profiles to meet future growth goals.
We saw a 2x increase in annual bookings once we started hiring to a deliberate profile.
(source: 3R Success Story)