By Cindy Mallard, Predictive Results Senior Consultant
I never met a CEO who wasn’t willing to spend the dime to get a dollar. The difference today is that CEO’s want the dollar back sooner and with lower risk. There is no wiggle room for mistakes.
Here are the Top 5 areas that yield the biggest bang for the buck.
- Business processes – every aspects of the business should be analyzed for opportunities to improve efficiencies, outcomes and alignment with the business goals.
- Retention – turnover is very expensive and is often a hidden cost in many organizations because they are not tracking it. Hanging on to existing employees, especially top performers, is critical if you want to keep costs down and productivity up. There are two things that drive retention – job fit and managerial effectiveness. If you are having problems with retention you are either hiring the wrong person for the job or your managers are running your employees off.
- Recruiting – with unemployment numbers still relatively high it would seem to indicate an unlimited supply of workers. But that is not the case. Organizations are still finding it difficult to fill jobs with high quality candidates. Hire for job fit. Think of it this way, when was the last time you fired an employee because of something they knew or didn’t know? You don’t. You fire people because of what they do or don’t do. Identify those behaviors and hire for them. Your recruiting efforts become more specific and focused.
- Analytics/workforce metrics – Knowing where you are going and being able to measure how well you are getting there can only be done if you have job metrics in place. Know what the output of the job should be, who is needed to fill it, and develop managers who know how to drive business outcomes because they understand the people they are managing.
- Succession planning – Many organizations are so lean there is no succession plan. Being in this position leaves the entire organization vulnerable. Research has proven that talent that is home grown is more effective than talent brought in from the outside. They are also much more likely to stay.
Scientific tools that are validated, such as the Predictive Index®, have helped organizations create alignment in all areas, increase retention by 50%, cut hiring time and costs in half while improving quality of hire, define key metrics that drive business results, and identify future leaders.
The math works. And we can prove it. Give us a call to discuss your specific needs and challenges.
Predictive Results – 904-269-2299