Through the pandemic, many were furloughed, let go and suspended due to the work environment or costs that could not be upheld. Workers under 25 experienced furlough rates 73% higher than those older than 25 and were let go at rates as high as 79% higher according to...
In an effort to continue working toward closing the gender wage gap, more states are enacting laws that prevent an employer from asking a candidate or applicant for compensation history. As of August 2020, there are 19 states that have banned the requests of salary...
Recruiting professionals, hold on to your hats; 2021 is the year your jobs evolve and specialize in four key areas. Your position will take on aspects of other disciplines and specialties in the year to come. Here are the top 4 recruiting trends to plan for in 2021....
Recruiting has changed. The advent of so many startups, a new generation of workers, social media and technology, have all changed the game. Not only has the way we go about crafting job descriptions and posting roles changed, but even the start of the recruiting phase now begins well before a position is actually open. With everything that is evolving within talent acquisition, what hasn’t changed is that better recruiting leads to lower turnover and a lower cost per hire.
Consequences of a Bad Hire – Beyond Turnover Cost
This recent study shows the average cost per hire to be at $4,000. But what is the turnover cost per hire if they’re bad hires? Turnover costs are estimated to be one-third of a new hire’s annual salary or more in order to replace them. However, the consequences of making a bad hire go beyond this. There are other costs as well, such as reduced morale among employees, disruption to a department, slower production, an increased workload, and depending on their position, the potential of lost sales or customers.
There are a whole host of factors that contribute to employee turnover; boredom, low pay, lack of recognition, limited advancement opportunities, dissatisfaction with management. However, one of the largest reasons for high turnover, 80% according to a statistic by The Harvard Business Review, is due to making a poor hiring decision in the first place.
It may appear that your new employee has made the final decision to join your organization the moment they accept your offer, when in reality, the majority of the time, an employee is still making that decision up to six months after they’ve begun working for your company.
This study, sponsored by The Society for Human Resources Management Foundation (SHRM Foundation), found that half of all hourly workers leave within 120 days, citing issues with onboarding and training as one of their largest reasons for job dissatisfaction. Replacing employees is not only time consuming, it’s costly, and causes lost productivity. Additionally, high turnover can do long-term damage to company morale.
Companies seeking to be an employer of choice recognize the value in creating an engaging company culture. A large part of that engagement is a high-quality onboarding process. Onboarding is no longer doing paperwork for a few hours on a Monday morning. Employers of choice understand that onboarding is an ongoing part of an effective recruitment and retention strategy. For true engagement, employees both new and seasoned, need to be a part of the Plan. They need to feel like they understand organizational goals, how sales affects the overall success, and how their role contributes to the organization’s success.
read more…
Without an applicant tracking system (ATS) to handle your OFCCP/Affirmative Action reporting, you could find yourself swimming in a sea of spreadsheets. Not only that, but you may unknowingly be inviting unwanted trouble.
There are many benefits to producing OFCCP reports through the right ATS, not the least of which is mitigating risk by making sure that recruiters are being compliant. Companies are able to monitor recruiting operations and identify any issues or problems before they become an issue, allowing themselves time to take corrective action prior to any potential OFCCP reviews or audits. Additionally, with the right applicant management system, OFCCP/Affirmative Action reports can be produced easily and quickly. Having those reports available on-demand ensures timeliness, accuracy, and consistency.
read more…
Gwynne Monahan, best known by her Twitter handle @econwriter5, is a senior content writer at Inflection and GoodHire. In the following guest post, Gwynne d
One only need to look at Colorado to see the financial windfall states can receive by legalizing recreational marijuana. In its fiscal year post-legalization, it cleared almost $70 million in tax revenue. That was more than the tax revenue from alcohol sales. It’s surprising more states haven’t followed suit, but there’s another side to the story. What happens to pre-employment drug screening, or random drug tests on the job?
While I’d prefer the legalization of recreational marijuana over, say, taxing my Netflix usage, the question gives me pause. Technically speaking, marijuana is an illegal substance.
read more…
How will the recently proposed Fair Labor Standards Act (FLSA) regulations affect your organization? On June 30, 2015 the Wage & Hour Division (WHD) of the Department of Labor (DOL) released their proposal to change the FLSA standards for exempt employees. The new regulations will raise the minimum salary requirements for exempt employees, extending protection to millions of Americans that aren’t covered by overtime pay.
read more…
SkillSurvey President and CEO, Ray Bixler discusses how reference checking can be used more effectively to find and keep highly engaged employees in the below guest post. If you want to learnhow to easily run great reference checks using the TAM/SkillSurvey integration REGISTER TODAY for our FREE upcoming webinar on Tues., August 18th, 2015.
Transform Your Reference Checking to Drive Engagement
In a recent blog post, workforce culture expert and best-selling author Kevin Sheridan took issue with the notion that “employee engagement” has run its course and has instead become a routine “check-the-box” exercise. He suggests, rightly, that perhaps we should start holding the people checking the box accountable for defining, encouraging, and measuring engagement at their organizations.
read more…
The US economy is dependent on the trucking and logistics industry to transport materials and goods throughout the country. According to the American Trucking Association (ATA) “in 2012, trucks moved 9.4 billion tons of freight, or about 68.5 percent of all freight tonnage transported domestically.” Amidst this staggering statistic, the trucking and logistics industry is experiencing a shortage of drivers. How can you attract the best drivers in this increasingly competitive industry? Recruiting, hiring and retaining good drivers is a widespread challenge for employers these days. The key is to stand out from the competition and have effective recruiting processes in place, while abiding by the Department of Transportation (DOT) and Federal Motor Carrier Safety Administration (FMCSA) regulations.
read more…
The subject of independent contractors is a hot political topic right now, drawing attention from President Obama and Hillary Clinton. Both political figures have made it a priority to crack down on employers who are misclassifying employees as independent contractors to dodge compliance regulations and cut costs. Earlier this month the Department of Labor (DOL) came out with detailed guidelines to address misclassification, making it very clear when a company is in violation. For employers, the best practice is to classify everyone as an employee unless they can clearly be defined as an independent contractor.
Employers may be classifying individuals as independent contractors, rather than employees, to avoid providing them with a range of benefits. The recent DOL release states that “when employers improperly classify employees as independent contractors, the employees may not receive important workplace protections such as the minimum wage, overtime compensation, unemployment insurance, and workers’ compensation.” This has led to lawsuits and litigation against numerous companies around the treatment of independent contractors. Let’s take a closer look to understand why this issue is receiving so much scrutiny lately.
read more…
Are you ready for an audit? If your organization does business with the Federal Government and if you’re required to comply with any of the below regulations or acts, you are one of over 200,000 businesses subject to an audit by the Office of Federal Contract Compliance Programs (OFCCP).
Whether the audit is a Desk Audit or an On-site Review, there are four possible investigative procedures that will be included.
read more…