Young Talent: Engagement and the Hiring Process
3.8.10
Engagement is one of the most crucial aspects of retention, management and development and all too often, we fail at this process. One of our biggest failures is often at the beginning of engagement, the hiring process, where we present the job/role in a shiny box with a big bow so that the potential candidate can’t resist. I suggest unwrapping that box, leaving the price tag on and having a candid discussion about the good, the bad and the ugly aspects of the job, including:
- Work clock expectations
- Workplace politics and dynamics
- The organizational culture
- Leadership styles within the organization
- What types of people tend to succeed in the company
- What types of people tend not to succeed in the company
- How frequently promotions occur
If possible, allow for a trial period or job shadowing so that the individual can really see what he/she is getting into. Seems like a lot to do for one measly hire?
Well, think again because the stats show that 70% of young employees job hop within the first two years of employment. So what? Well let's do some math. Here are the costs associated with losing a trained employee and then replacing them:
Attracting someone new + Retention costs + Recruiting New Talent + Loss of Intellectual Capital + Loss of Client Relationships + Loss of Productivity/Job Skills
If you add all of these figures together, you are talking anywhere from 2-3 times someone’s annual salary. Maybe presenting the real story is not such a bad idea?
