As the economy contracts and expands, businesses need the ability to find and hire talent in a manner that is both profitable to the company and beneficial to its stakeholders. Any tactic that can mitigate the cost and investment of hiring can benefit the company both short and long-term.
What Factors Impact The Cost of Hiring For Your Business?
Speed To Hire
Every second that a position is open costs your company money. Your ability to expand your company’s capabilities or simply maintain them is reliant on your ability to keep the right people in the right seats. Your HR and onboarding team is under pressure to find the right people and get them trained as soon as possible to keep the company’s goals on course. Partnering with a recruitment firm like The Panther Group gives you the opportunity to focus on your business needs while your recruitment needs are being met and fulfilled more quickly because of our dedicated team of recruitment professionals.
Your ability to recruit and retain employees is also impacted by your company’s culture. What plays into this? Your management culture, your training culture, your wellness culture, and your ability to provide a safe environment to work all play into your larger culture. Developing a strategy for your culture based on your core values can help you and your employees stay focused on alignment and productivity as a team. When people feel safe and valued, they’ll want to stay. Employee attrition impacts your budget and the general morale of your company.
The Initial Investment
According to Investopedia, companies spent $92 billion on training between 2020 and 2021. More, each year than any of the previous 6 years. Just to get new employees up to speed costs companies billions in their onboarding programs. The Panther Group is positioned to help manage the hiring and onboarding process with you. With some of our contract-to-hire recruitment services, contractors will take on our benefits packages which reduces that initial investment you’d shoulder, thus reducing your risk.
Dealing With Bad Hires
Whether it’s a poor culture fit or a skills mismatch, a bad hire is a drain on your company. It can be difficult to fire a bad hire and can be even more damaging to keep them. When you partner with The Panther Group for your recruitment needs, you benefit from our resources and targeted screening practices to filter out as many potential bad hires as possible. Our team of recruitment experts knows how to attract and find your employees that will bring the right skills and experience to your team.
It’s no secret that most employees want to progress in their careers and find the next opportunity at the right time. If you’re not providing adequate opportunities for career advancement in your company, you’ll most likely lose top talent to other companies that do. By developing career pathways within your company, you can have a better chance of retaining your better employees and retain your investments in them.
Looking to Hire Quickly?
The Panther Group is perfectly positioned to help you find professional talent quickly. We’ll spend the time to get to know you, your needs, and your culture so that we can find talent with the right skills, that are well-screened and to you quickly.
Panther can help employers develop strategies to improve engagement and attract and retain top talent. As a workforce management partner, we offer flexible staffing solutions to help you adapt to a changing economy. As one of the most trusted engineering, accounting, and finance staffing firms, Panther can help you find professionals who will thrive in your organization and have a positive impact on your business. Contact us today.
Call 855-899-JOBS (5627)