The Best Are Right Inside Your Business
Looking for the best people in a crowd is like looking for the juiciest fruit in a fruit stand. You’ll never know which ones are the best until you have tried them.
It’s not always a good idea to recruit new personnel every time someone leaves the company. Sometimes you just have to look around your office and see which of your staff stands out and has the capacity to take over the vacant position.
A high employee attrition or turnover rate can be an impediment to a company’s objective to cut costs. Looking for the best people in the crowd can be pricey, and the recruitment department can incur a higher cost in finding the best person for your company.
For companies that have just started up, minimal expenses alongside generating revenue are the main goals of the business. Most companies consider Back Office Outsourcing to help them achieve these goals, having the ability to give more attention to more critical business functions at the same time cut back on expenditures.
Back office services mainly cover human resource and recruitment processes. These back office services can free the company of high costs from dealing with prospect people who will help the management in running the company. Handing these functions over to people who concentrate on the field is a much astute move, especially for companies who aim for cost-efficient operations.
Human Resource Outsourcing (HRO) and Recruitment Process Outsourcing (RPO) focus on the whole process of finding, recruiting, and taking care of an employee’s stay in a company. HRO and RPO service providers will take charge of the benefits that the employees should be receiving as well as mandate the Company Rules on them.
High staff retention is a driver of quality performance. Why? Happy employees are motivated and become productive employees who remain loyal to the organization. Unhappy employees are unproductive and generate all sorts of hidden costs. There is a clear connection between high employee retention and high organizational performance.
According to Mercer, a leading human resource consulting company, the costs of dissatisfied staff and high staff turnover include the following:
· Decreased productivity costs
· Investments in training and developing past employees are wasted
· Loss of revenue for key sales
· Recruitment costs go higher
· The new employee’s induction into the business culture
· Management downtime in interviewing new candidates
· Legal fees and payout commitments
There are also a range of factors, aside from financial remuneration, that makes an employee leave or stay with the company, which are as follows:
· Climate and Culture. The culture within an organization affects the way people are grouped, and how they and the formed groups interact with one other. Since it is where people spend most of their day, the culture of the workplace gives a tremendous impact on the happiness of the staff and management.
· Leadership Style. Another key impact to high staff retention is having good managers and good leaders. The leadership of the organization plays a significant role in molding the culture of the workplace.
· Continuous Improvement. An organization that maintains a culture of encouraging its staff to do more than what they normally can in a very positive way is a key to high staff retention. Showing the staff that they have the chance to grow by offering career paths in the company is one way of cultivating the best performing staff and getting their trust and loyalty to the company.
A company should be able to select high performing staff and include them in High Performance Trainings to help boost their creativity and productivity.
HRO and RPO make certain that the best people can be found and be developed within your company. Nowadays, it’s not all about the financial package that they’ll be getting from your company. Offering a range of non-financial benefits does not only attract applicants, but is also important for retaining the best employees.
HRO and RPO are two back office services that are major parts of back office outsourcing. These business functions are delicate, and handing them to people who dedicate their expertise to it is a cost-effective move for a company.
It’s not always a good idea to recruit new personnel every time someone leaves the company. Sometimes you just have to look around your office and see which of your staff stands out and has the capacity to take over the vacant position.
A high employee attrition or turnover rate can be an impediment to a company’s objective to cut costs. Looking for the best people in the crowd can be pricey, and the recruitment department can incur a higher cost in finding the best person for your company.
For companies that have just started up, minimal expenses alongside generating revenue are the main goals of the business. Most companies consider Back Office Outsourcing to help them achieve these goals, having the ability to give more attention to more critical business functions at the same time cut back on expenditures.
Back office services mainly cover human resource and recruitment processes. These back office services can free the company of high costs from dealing with prospect people who will help the management in running the company. Handing these functions over to people who concentrate on the field is a much astute move, especially for companies who aim for cost-efficient operations.
Human Resource Outsourcing (HRO) and Recruitment Process Outsourcing (RPO) focus on the whole process of finding, recruiting, and taking care of an employee’s stay in a company. HRO and RPO service providers will take charge of the benefits that the employees should be receiving as well as mandate the Company Rules on them.
High staff retention is a driver of quality performance. Why? Happy employees are motivated and become productive employees who remain loyal to the organization. Unhappy employees are unproductive and generate all sorts of hidden costs. There is a clear connection between high employee retention and high organizational performance.
According to Mercer, a leading human resource consulting company, the costs of dissatisfied staff and high staff turnover include the following:
· Decreased productivity costs
· Investments in training and developing past employees are wasted
· Loss of revenue for key sales
· Recruitment costs go higher
· The new employee’s induction into the business culture
· Management downtime in interviewing new candidates
· Legal fees and payout commitments
There are also a range of factors, aside from financial remuneration, that makes an employee leave or stay with the company, which are as follows:
· Climate and Culture. The culture within an organization affects the way people are grouped, and how they and the formed groups interact with one other. Since it is where people spend most of their day, the culture of the workplace gives a tremendous impact on the happiness of the staff and management.
· Leadership Style. Another key impact to high staff retention is having good managers and good leaders. The leadership of the organization plays a significant role in molding the culture of the workplace.
· Continuous Improvement. An organization that maintains a culture of encouraging its staff to do more than what they normally can in a very positive way is a key to high staff retention. Showing the staff that they have the chance to grow by offering career paths in the company is one way of cultivating the best performing staff and getting their trust and loyalty to the company.
A company should be able to select high performing staff and include them in High Performance Trainings to help boost their creativity and productivity.
HRO and RPO make certain that the best people can be found and be developed within your company. Nowadays, it’s not all about the financial package that they’ll be getting from your company. Offering a range of non-financial benefits does not only attract applicants, but is also important for retaining the best employees.
HRO and RPO are two back office services that are major parts of back office outsourcing. These business functions are delicate, and handing them to people who dedicate their expertise to it is a cost-effective move for a company.
About the Author
Miche is a self-employed blogger and copywriter from Philippines who has a love on writing and always happy to share his passion on blogging.