In today’s challenging economic environment, many employers have been reluctant to make significant changes or investments. However, technology has afforded employers the opportunity to make cost effective investments in the development of their existing talent which can generate immediate returns from critical human capital.
Most employers are interested in helping current employees achieve their highest levels of success, if only to avoid the costs associated with turnover. Turnover costs can easily reach 150% of the employee’s annual compensation figure. The cost will be significantly higher (200% to 250% of annual compensation) for managerial and sales positions.
Check out the other articles in our detailed analysis of employee performance enhancement.
Tip for Hiring Managers
Bad hiring can have catastrophic effects on your business. The CRI blog and newsletter reveals insider tips on screening, assessing and interviewing job applicants to ensure that you don’t end up investing in the wrong candidate.