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Dakotta
J.K. Alex (author,
consultant, entrepreneur) is a Global HR Solutions and Ethics
consultant
specializing in human capital recruitment, process management, and
cultural
policy review in the US, Europe and China. http://www.dakotta.com
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With more emphasis put on HR metrics, global recruiting, and using advanced technology to create databases and store information, HR departments are becoming more of a presence in company board meetings and strategic planning sessions. While this is a positive step, are HR departments ready to handle added responsibilities, and are they equipped to recruit the level of employees expected?
The passing of the Employment Contract Law, drafted by the National People’s Congress of China, went into effect in 2008. The law, the first of its kind, allowed the AFTCU (All-China Federation of Trade Unions) to have a say in many company policies including how employees are evaluated, termination of employees, and the procedures published in employee manuals. The law also restricts companies from laying off more than a certain number of employees at any one time.
Since the mid-1990’s, the business world has become much more global. Companies are opening offices and manufacturing plants in Europe, Asia, Africa and South America. Hiring employees who come from these areas who understand culture can only benefit company profits. But many are still anxious about hiring those who are from other countries or those who may have travelled or worked in other countries.
You’ve heard the horror stories of bad hires, but do you know the monetary consequences of hiring the wrong people for key positions within a company? According to a survey conducted in 2006 by career-consulting firm Right Management, the cost of hiring an employee who is not qualified to do their job can cost a company two and a half times their annual salary. If your company experienced two or three bad hires each year, the costs would be overwhelming.
Most of the time, the HR department of a typical corporation or other business will be trying to keep its employees satisfied and working. Recruiters are busy searching for qualified applicants who could provide a host of benefits for the company and who are likely to ‘stick with it’ and invest in the future of the company. But what happens when it is the recruiter who is thinking about leaving? For the shrewd HR manager, this is like a warning light going off. If a recruiter has spent any time with the company, there has been time and experience invested that cannot easily be replaced. Thus it is important to deal with this immediately, when warning signs present themselves. Don’t let that recruiter walk out the door!
When it comes to finding the best candidates, it makes sense to ask the best candidates who work for your company. Employee referrals can be used to fill a variety of positions from entry level to upper management. In order to get the most from employee referral programs, deciding on the metrics needed to measure the quality of the referrals, will help you be able to determine how useful they are and how much of your time you should spend following up on them.