Written by: Aldin Beslagic, General Manager – BestLogic Staffing
Having worked on both sides, corporate and staffing world, I have hired over 5,000+ and conducted over 10,000+ interviews.
I see a lot of employers seeking to hire highly qualified employees at bottom dollar.
Let’s break it down:
The highly qualified employee was making $100,000 a year. You offer him $55,000. Thinking you got a steal of a deal. The potential employee accepts your offer. You think you just saved your company a lot of money because you’ve done that with the recent 50 new hires.
What’s really taking place is that your company is just a stepping stone to provide interim income until they can search out a higher salary position.
So the merry-go-round starts. The cost to terminate, rehire and train a new person will do nothing but keep your company in failure mode.
How do you eliminate the excessive turnover? Be honest and pay the market wage for that position, regardless of the underlying situation. Your new hire will show you dedication and production beyond belief.
People go where they’re appreciated.
Do you Agree?
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