STAFF RECRUITMENT: Opportunity Cost Calculator
This calculator is used to understand the cost to the business of a new hire within a the probation period. During this period employers and employees can choose to terminate employment.
The main reasons companies face high turnover & need to constantly rehire are
Not Understanding the Skills and Experience to Hire for
Poorly crafted Job Descriptions
Poor interviewing and selection skills
Poor new employee on-boarding process ; and
See how much it costs your company to hire for a position and what it will cost the company, the longer you take to make that confirmation decision. Sometimes it is better to admit that the hiring process did not go well, let the new hire go and restart the hiring process.
A structured AOP – Annualised Operations Plan is a good start to determining the staffing requirements for a company. This method ensures that high potentials are either nutured to grow or the right hire is made so companies can achieve their full potential.
An Impressive, Attention Grabbing Job Description is crucial to hiring the right candidate for the job. Good Candidates means potentially Good Team Members!
For a more detailed understanding of the impact of Staff Turnover, check out our Staff Turnover Impact Calculator.