Not Hiring Within is Costing You Big Time
Jené Lee LSSBB, PMP
PROFIT/LOSS CONSULTANT Helping LARGE COMPANIES to SUPERCHARGE their EMPLOYEES to become ORGANIZATIONAL LEADERS that drive PROCESS IMPROVEMENT and INNOVATION to INCREASE company PROFITS EXPONENTIALLY ??????
Did you know there is employee feedback in the desire for employees to advance within your company? Are you listening? If employees want to stay with your company longer and make better use of their skills and talents, then you have good work culture and employee morale, right?!?!? However, when you hire outside of the company to fill these roles first, without even posting these jobs within, then you will have toxic work culture, decreased employee morale, increased quiet quitting and increased employee turnover.
When employees leave your company because they feel like they can't advance, there is profit loss. Now you have to hire for that position that employee wanted to advance to and the position that employee held. Paying for Job Posting, Recruiting, Hiring, and Training for two people instead one now is the consequence. Not retaining employees costs companies 1-2 times an employee's salary. So, if an employee made $30,000 a year, he/she wanted to advance to a $60,000 position, but was denied and quits. You will have to pay $60K to replace that employee, but you could have saved $30K, by letting them advance instead. Maybe you can afford to keep paying to replace people instead of retaining talent.
Nevertheless, in my 25-year corporate career, I tried to advance within a company a time or two. In this one company, I was able to successfully advance up two positions. Great, right!!!! However, when I was tried for my third advancement, I was shut down. I was shocked because I helped this other department out part-time and I just wanted to take on a full-time role there to better utilize my new skills. However, they hired outside the company for the position I wanted and denied my advancement. The newly hired employee didn't work out long, only a month, so I tried to apply for the position again and was denied. So, I quit!
I am not sure if it was a glass ceiling issue or not. Maybe they didn't want me to have the flexibility to work from home a couple days a week or they didn't want to pay me more money. Either way it made for a toxic work environment because I felt resentment and so did my co-workers. My employee morale went down after being there for 2 years, I didn't trust the company anymore. So, I quietly quit for months because of it before I formally quit.
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?? Hi I'm Jene', (Business Process Management Consultant)
?? I help MID to LARGE sized companies use EMPLOYEE FEEDBACK to make HUGE PROFITS FASTER by REDUCING their PRODUCTIVITY COSTS by 20%.
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Recently retired Sr Due Diligence Analyst at Wells Fargo and now launching my next step in my journey. I am now engaged in a mission to end homelessness in the United States.
7 个月Hi Jene: Thank you for your very valuable insight inside the corporate world of hiring and retaining talented workers. I myself experienced that same situation of trying to advance but was denied. I am finally in a position to utilize all of my years and experience to focus on my passion which is to help and uplift people. My first initiative is to end homelessness in the United States. This effort will be a win-win for everyone as corporations will have a new pool of talents entering the job market after these homeless workers have been restored to their rightful condition with dignity and purpose. The society as a whole will benefit as more workers enter the job market which will increase spending power and also ultimately increasing GDP. Hoping you can join me in this effort. God Bless you in your future endeavors. One Love John Bancroft Brown, DIBA, MBA, MPA, CAMS Tel: (305) 431-5667 Email: [email protected] Address: 15829 SW 100 Terrace, Miami Florida 33196