Hiring new talent can be exciting, but unless your company is growing and you’re filling brand new positions, it’s not something you want to be doing all the time. Each new hire fills the spot of someone you lost, and that loss is expensive, not only regarding the money required to train the replacement but also in productivity and possibly morale.
In a 2014 survey from SHRM, one-third of respondents said they quit a job in the first six months. When giving reasons for this, 23 percent felt they didn’t have clear guidelines as to their responsibilities; 17 percent were looking for more helpful, friendly co-workers. Meanwhile, 21 percent indicated that “more effective training” would have made them want to stay.
In other words, a winning talent management strategy could have made all the difference.
Tags: How to Build a Winning Talent Management Strategy