We believe that Employees are an organisation’s most important asset and more often than not, key competitive differentiators. Therefore hiring and retaining the right people, is paramount for organisations.
There is enough research and evidence to show that the benefits of getting your Talent Management strategy right far outweigh any expenditure (read investment) involved. For instance:
- Cost of hiring a bad candidate is up to 3 times the annual salary of the person, considering the time, money & effort involved in hiring & training
- Some organisations have found a drop in new hire attrition from 70% to 6% once the onboarding processes were improved
- Organisations that use best practices in leadership development experience, on average, a 22% boost in their bottom line productivity
- Only 15-20% of organisations achieve exceptional performance and beat competitors on a consistent basis. These lucky few are the ones who have a strong focus on managing their talent well
We also believe that formulating your Talent Management Strategy is a matter of listening to your employees (both current and alumni), listening to your first line managers, listening to your HR team and finally listening to market practices and vendors. These elements are well entrenched in our methodology.