The Cost of a Bad Hire - Essay Example

The most important element is the HR team and they should stick around for long, retaining them is extremely important and it is always important to have the core of the company stick around for long so that they can help the company achieve short term and long term goals. The HR team forms the core of the acquisition engine and there are no two ways about this.

Outcome demand and performance retention are crucial to any business, it includes important factors like the actual needs of the staff, fluctuation risk of the staff, motivation, and de-motivation, targeted measures, implementation of the targeted measures and lastly evaluating these measures and analyzing the results. It is crucial to any business because without these it would be very hard to assess the needs and what requires to be done to take the business forward and this is exactly why it is extremely important to every business.

Six key areas in support of the Critical Success Factors for how to find and hire top talent leading to improved retention are developing an employment brand by this it means promoting a brand image and it is extremely important because it usually decides the pool of talent which comes for recruitment. The next important factor is a robust pipeline, which means having qualified employees in the pipeline who are ready to work at the drop of a hat, the next factor is an ongoing dialogue with the candidates, it is very important to let them know what is expected of them and also to let them know about the targets of the company both long term and short term. The last few factors include training, compensation, and an open line of communication with the employees.

Jack Welch said: “Finding good people is hard, finding great people is brutally hard”. Read More