Employee recruiting is costly. Per the Wall Street Journal, the median cost to retain and recruit an employee will run from $2,000-$3,700. Recruiters/Human Resources staff spend hours interviewing, travelling to job fairs and strategizing to find the proper candidates.
Once a hire occurs, how can an organization be assured it was the correct decision? How can they know the employee will remain at their company for an extended period of time, assuming they want them to? If they remain, will they be a top producer? A positive influence?
Are there strategies around these issues?
Technology is one possible answer. Internet job boards, electronic resumes and application processes are all contributing to this solution. Per Careerbuilder, 9.3 million workers searched for jobs via a mobile device in March 2013.
Another aspect of technology has been utilizing social media for recruiting. The Jobvite 2012 Social Recruitment Survey showed that 92 percent of U.S. companies used social media networks in 2012 for recruitment efforts.
So while the recruiting challenge does have some innovative ways to combat costs, time, etc., what happens once the candidate is hired? What makes them remain in their job, or for that matter, leave their job?
A Harvard Business School study asked 600 manages what they thought was the number one thing that motivated people. A majority answered recognition. When employees were asked the same question, progress was the answer from 76% of respondents.
How can we avert this disconnect? Coaching. Coaching is about driving performance, such as skills, knowledge and behaviors. To achieve this, employees need a manager to facilitate that growth. Per the Corporate Leadership Council, employees who are engaged with their manager can yield up to 57% more discretionary effort, yet the number one reason people quit their job is their manager, according to the Gallup Organization.
Managers can bridge this gap by coaching their employees toward greater success. Coaching is the means to driving better performance, NOT simply telling someone what they need to do. Coaching allows an individual/group to progress toward improved performance, with the emphasis on progression, not necessarily results. Results will come as people progress.
Organizations need employees to be fully-engaged with their manager and vice-versa. Coaching is a tool that allows this.