[FREE EBOOK DOWNLOAD] - 7 best-kept secrets to attract, access and retain top talent for long-term success
19th Mar 2021
Learn how to build high functioning teams and retain them with our free eBook curated by the Corvus team of expert recruiters.
+Suitable for decision-makers who want to improve their hiring process.
+Plus free hiring checklist with your download.
Your business will grow if you build productive, high functioning teams. This takes investment, time and widespread commitment.
Payroll can account for up to 70% of your total business costs. That’s once you factor in salary, benefits, bonuses and other related taxes1. For many, staff payroll will be your single biggest expense. Which makes your recruitment a high stakes activity.
The impact could be huge. It’d be helpful if people were straightforward and predictable – but they’re usually not. So, successfully hiring them involves much more legwork than simply finding the ones with the right skills and experience. It’s an arduous process with many variables and still no guarantees you’ll get it right.
Still, it’s important to try. Research by McKinsey & Company suggests the top 5% of talent is up to 8 times more productive than average talent. That means - it’s definitely worth getting smarter about how you hire. Under performing work cultures have been closely studied over recent years. One of the key points of difference between a high performing team, and an average to poorly performing team, is the genuine care the employees demonstrate towards each other.
Studies show, when employees feel valued by their companies, they’re more committed and satisfied in their jobs. Not only that, they show fewer signs of stress and burnout2.
That means you get a more motivated, productive and engaged employee. What business leader wouldn’t want that for their team?
Recruiting the right team is essential for business productivity. Productivity is essential for meeting bottom line goals, which makes recruitment a critical task. So, you’d think companies would avoid poor hiring methods. Knowing the significant financial impact of making a mistake or bad hire3. Wouldn’t you?
But unfortunately, that’s not the case. UK businesses fail to hire the right person every 2 out of 5 roles. More concerning still, 33% of HR decision makers think that problem hires don’t cost their business anything3.
Between advertising costs, lost productivity, recruitment fees, time spent interviewing, on-boarding, training and management - the total amount invested in a poor hire has a considerable financial impact.
And then you’re back to square one!
To learn how to build high function teams and retain them, download our full eBook ' 7 best-kept secrets to attract, assess and retain top talent for long-term success'