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Retention + Recruiting = A GREAT Return on Investment (ROI)

Thu,Dec 10,2015 @ 11:15 AM

Retention + Recruiting = A GREAT Return on Investment (ROI)

The other day I met George Blomgren the president of The Good Jobs. We got into an enthralling conversation about return on investment with what both our firms do.

We teach managers how to coach. When managers are coaching the  employees are more engaged which ultimately leads to greater loyalty and trust among his or her employees. We have countless studies that show this led to greater talent retention as well as served as a tool for people to join the company.

The Good Jobs provides companies a very unique opportunity to receive digital badges and I would dare say badges of honor that serve as tools for organizations to validate their culture that help recruit employees. If the candidate is looking for a company that has flexible hours or allows pets or what have you The Good Jobsdoes an awesome job of validating if a company has such a culture and providing in essence a badge of validation.

George and I begin to talk about all the different ways retention and recruitment are awesome metrics for return on investment. So let me leave you with some questions that will hopefully get you to see the value of retention and recruitment as a return on investment vehicle but also hopefully the validation of both are firms:

  1. What if managers were evaluated on retention year-over-year based on the number of people who stay and/or get promoted within the organization?
  2. What if there was a correlation completed that measured loyalty and engagement among employees in relation to profitability?
  3. What if an organization had a three-year goal of reducing recruiting costs but used a fixed cost tool such as The Good Jobs to recruit employees and market the company at the same time?
  4. A great question for managers would be would your employees when called by a candidate recruit the candidate or tell the candidate to stay away based on their relationship with the manager?
  5. What if an organization tracked the number of internal promotions due to coaching and talent development versus hiring an outside agency to find a candidate at a percentage of their first your salary?
  6. What if a candidate researched your firm and the hiring manager what would it reveal? Would the company be on The Good Jobs? Would they be at Glassdoor? Would the employees of the manager be accessible and in support due to their loyalty to the manager?

George and I both agreed that the metrics can be widespread and certainly unique to each organization but one thing we both agreed upon wholeheartedly is that candidates are becoming choosier and choosier. Traditionalists and millennial's want mentoring and coaching as  part of their job package. Specific employees want certain elements of a culture that suit their style and work habits but where would they find this out? Glassdoor? I Hope Not! That's why The Good Jobsprovides companies a unique advantage! 

Cultures are not taglines or mission statements, rather they are a collective sum of all the actions of the employees and certainly the actions that are facilitated by its leaders. This is what makes up a culture. A culture can be an unbelievable marketing magnet not just a hiring tool. It can also serve as a tool to help your competition if things are not done right!

 

Check Out The Good Jobs (George did not know I was going to write this blog or even suggested I do so but that's how much I think about their company and what they're doing in the marketplace): http://www.thegoodjobs.com/

Tim Hagen

Written by Tim Hagen

Tim Hagen founded Sales Progress, a Training Reinforcement Partner Company, in 1997. His entrepreneurial career began in college leading to positions in sales, sales management, and sales training for small and large corporations, and eventually ownership of several training companies. He possesses a unique combination of hands-on experience, academics, and innovative insight to solve the industry’s most common challenges. Tim holds a bachelor’s degree in Adult Education and Training from the University of Wisconsin, Milwaukee.

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