The Compensation Wars: Recruiting – and Retaining – Excellent Employees is Tougher Than Ever If you’re involved with recruiting today, you know how competitive this environment is. You know that many candidates are looking for a complete, innovative compensation package, and a job that will enable them to reach their personal goals & objectives.
Category Archives: Hiring and compensation
Effective Hiring Practices: 360-° Hiring: Hiring for Long-term Success How many times have you made the “wrong hire”? Have you ever had to fire someone, or have him or her quit, within months (or even weeks!) of the start date? Regardless of the reason—have you ever actually calculated the costs of turnover? Dr. Brad Smart, in his book “Topgrading” did. He calculates that for someone with a base compensation of $100,000 or less, that the cost of leaving is 14 times salary! The higher the pay scale the more dramatic the problem: the cost of leaving increases to 24 times salary when all salary levels are included. What can you do ensure hiring success? The Collaborative recommends what we call 360-° Hiring—a proven approach that minimizes the risk of a mis-hire. This is a six-step process that ensures a complete candidate evaluation and alignment with the position.
Redefining “Poor” Performers In order to run their businesses more effectively and efficiently, many of our clients want to address the issue of poor performance. So many times we hear the solution to poor performance sound like this; “I just want to fire that guy/gal.” “If I could hire someone else in here, my problems would be solved.”
Compensation Plans: Today’s Tool for Business Success Are you closing as much business as you’d like? If you’d like to increase revenue, close more sales and improve your bottom line, it may be time to take a closer look at your company’s current sales compensation plan. With some refinements and strategic changes, you may be able to positively impact your sales numbers in a short period of time.