Are recruitment costs giving you a headache?

Recruitment can cost a lot of financial woes to your firm and this is something you could certainly do without. With that being said, in order to avoid excess recruitment costs, you should not only be able to hold on to your newly recruited staff but, at the same time, you should also be able to keep the more seasoned members of your team satisfied.

In this era of financial uncertainty recruitment costs are something that in addition to your day-to-day costs could completely blow your firm’s annual budget.  Recruitment itself has become a prominent issue for all businesses – finding the right candidate for your firm nowadays, with or without the help of a recruitment agency, has turned into a nightmare. It is common knowledge that employees tend to change one job after another much more easily and quickly than they did in the past. This in turn makes employee retention a huge pressure point. It cannot be easily guaranteed that your new member of staff will not leave your firm within the span of three months which means that all the money you spent for their recruitment has essentially been thrown down the drain. While this lack of ‘loyalty’ and dedication to a specific employer might be a sign of our times there are ways that can help you safeguard your business while retaining both old and new staff.

It might not be apparent at first but the main reason urging your new staff to abandon your firm so easily and quickly is not financial. What pushes your new recruits away is the lack of development opportunities and career progression while failure to be properly integrated within your existing team plays a significant role in their decision to leave. Wouldn’t it then be a clever idea if your firm took a chance and decided to properly invest on your new staff by regularly presenting them with fresh and diverse training opportunities?  Being in a continuous learning and development journey will keep them motivated, break their day-to-day routine and will allow them to acquire knowledge that, at the end of the day, will enhance their performance and boost your firm’s reputation. It should also be added that interactive face-to-face in-house training is a great team building exercise. Due to its interactivity, such a course has the capacity to create a mutual learning experience for your whole team and will help your new members of staff acclimate better. They will also be given the opportunity to learn more about the people they work with, discover how they can best become integrated within the existing group, observe the team dynamic and consider how their unique strengths can be better utilised.

While focusing on your new employees is paramount if you wish to keep them for a long time, it would be unwise to neglect the members of staff who have been with you for years. When a position becomes available in your firm instead of always searching for external candidates you could try recruiting internally. Not only will this practice minimise the risk of your current employees leaving your firm in the near future, but will also eliminate all costs and risks associated with hunting for an external candidate. You already know your current staff’s strengths and weaknesses which means that with the appropriate training you could turn them into the perfect candidate for the position. Rewarding their loyalty and dedication to your business by helping them develop, progress and move up the career ladder will also demonstrate to your new staff that loyalty and hard work are not taken for granted but are evaluated and rewarded.

Retaining your staff and avoiding unwanted, unnecessary recruitment costs does not need to be a never-ending balancing act. If you wish to employ individuals that give it their all and remain loyal to you and your firm it is essential that, as an employer, you practically demonstrate your appreciation by properly investing in their progress, development and well-being  within your company. Let us not forget that, after all, your staff is the essence of your business and without them you would not even be able to have and run a business.

Contact us now

If you would like to minimise your recruitment costs, MASS Training is hear to help new members of staff embark on their learning and development journey and support current employees develop and progress within your firm. If you want to find out more on what we can offer you, call us on 0117 9259612 or complete our free online enquiry form and we will be in touch.

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