The hiring process can be expensive. Time, effort, and money must all be expended to find the right person for a position. But in some cases, keeping the people you have might be more expensive than replacing them.
When your employees aren’t performing up to par, they can cost the organization a great deal – and not only in lost productivity. Working with your staffing partner to replace mediocre team members with star candidates can improve your organization’s efficiency, productivity, and bottom line.
How much are mediocre team members costing you? Costs can hit your organization in a number of areas, including:
- Company Culture: People in all industries tend to live up – or down – to the expectations placed on them. When it’s clear within a company that mediocre is good enough, the company’s culture adapts to reflect this mediocre expectation. By contrast, hiring strong candidates with a commitment to excellence builds a company culture that encourages each member of the team to contribute his or her best work.
- Morale. The overall company culture has a significant effect on day to day morale. Workers who don’t feel their efforts are valued lose the drive to contribute to the workplace beyond the bare minimum required to finish day to day tasks. Workplaces in which effort is valued and achievement rewarded, on the other hand, give morale a needed boost that improves outcomes.
- Productivity. Even workers who otherwise want to give their best efforts at work have trouble producing effectively or efficiently if they’re not good at what they do or have inadequate support from their coworkers, their productivity will naturally suffer. Choosing team members who excel in their particular fields and who work well together, however, sets a company on the fast track to professional success.
- Low ROI. Ensuring a good return on investment means weighing several factors, but one of the first is to consider the efficient use of limited funds. Having the right people – with the knowledge to make good decisions and the understanding to know when they don’t have all the answers – is key to making good investment decisions.
- Turnover. Companies that try to avoid the costs of hiring by retaining mediocre talent run a significant risk not only in terms of low morale or productivity. They also increase the chances that employees will leave the organization in favor of a better work environment or a job more suited to their abilities – which means the employer must expend time and energy on replacing them. Working with a staffing partner, however, can significantly reduce the costs of turnover while also making it less likely to occur again in the future.
At Marquee Staffing, our experienced recruiters can help you find the top talent you need to maximize your competitive edge and meet your company’s goals. Contact us today to learn more!