In pursuit of happiness
By Felix Wetzel (August 2006 Issue)
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The employment landscape is changing – rapidly. It is not only the wealth of new opportunities in terms of roles that is changing, but the traditional office, which does not look like it did two years ago.
This is set to change again in the near future. New jobs, and a shift in emphasis from work life to home life, have re-focused jobseekers on what they really want out of a job. With low unemployment rates and the wealth of new opportunities, candidates have more choice than ever. From an employer’s perspective it is vital to really understand the differing needs of the workforce, in order to attract and retain the right people. Ultimately, the people are the brand and, therefore, the drivers of growth.
Unfortunately, few employers do that research. A recent white paper from Jobsite suggests that there is a real disconnect between what employees want and expect from their jobs, and what employers actually deliver. This quickly leads to employee dissatisfaction, which often results in a premature resignation.
Hiring the wrong person can be one of the most costly decisions made in an organisation. It is estimated that each hiring error can cost the organisation at least twice an employee’s annual salary. This figure is made up by the cost of time, plus the cost of other work that is put on hold whilst the recruitment process is repeated. It can also bring additional costs in terms of other workers’ productivity, advertising, recruitment fees, training, possibly severance pay, outplacement and unemployment insurance. ...
This is set to change again in the near future. New jobs, and a shift in emphasis from work life to home life, have re-focused jobseekers on what they really want out of a job. With low unemployment rates and the wealth of new opportunities, candidates have more choice than ever. From an employer’s perspective it is vital to really understand the differing needs of the workforce, in order to attract and retain the right people. Ultimately, the people are the brand and, therefore, the drivers of growth.
Unfortunately, few employers do that research. A recent white paper from Jobsite suggests that there is a real disconnect between what employees want and expect from their jobs, and what employers actually deliver. This quickly leads to employee dissatisfaction, which often results in a premature resignation.
Hiring the wrong person can be one of the most costly decisions made in an organisation. It is estimated that each hiring error can cost the organisation at least twice an employee’s annual salary. This figure is made up by the cost of time, plus the cost of other work that is put on hold whilst the recruitment process is repeated. It can also bring additional costs in terms of other workers’ productivity, advertising, recruitment fees, training, possibly severance pay, outplacement and unemployment insurance. ...
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Articles from this Issue
- Meredith Belbin opinion
- Peter Honey opinion
- International Opinion
- Tech Trends
- Open all hours
- Blue sky thinking
- Under pressure
- To the lighthouse
- In pursuit of happiness
- Maximise your peak performers
- Sweetening the Pill
- Tips for unlocking middle managers
- Great Thinkers
- Five and a half steps to evaluation
- Town Hall, Manchester and The Whitworth Building, Manchester University
- TJ Archive
- A day in the life of
- Andrew Mayo