Direct Sourcing Saves You the Cost of Bad Hires It’s expensive for employers to have a job open for too long. CareerBuilder estimates that employers lose more than $14,000 on average for every job that stays vacant for three months or longer, and this cost can be upwards of $25,000 for more advanced positions. This can often lead to a sense of impatience as a human-powered hiring process drags on, leading to snap decisions fueled by human bias. Hiring the wrong person for the role is even more expensive, however. According to hiring expert Dr. Bradford Smart, the estimated cost of a mis-hired worker can be anywhere from 5 to 27 times the amount of the person’s actual pay. This number depends on their role and responsibility level, and the cost of recruiting them using traditional third-party sourcing–which, according to the Society for Human Resource Management (SHRM) can cost up to 3 to 4 times that person’s salary on paper. Read more @ https://hrtechcube.com/how-ai-powered-direct-sourcing-increases-productivity-better-hires/

Terminating an employee is a challenging and sensitive task that Human Resources (HR) professionals occasionally face. It is crucial to handle the termination process with the utmost care, adhering to ethical standards and legal requirements. Organizations can minimize risks, maintain positive employee relations, and uphold their reputation by creating clear policies and procedures, treating employees fairly, and maintaining dignity throughout the process. An overview of ethical termination procedures is provided in this article, emphasizing fairness, sensitivity, and legal compliance. Read more @ https://hrtechcube.com/hrs-guide-to-ethical-termination-procedures/

With this knowledge in mind, here are four strategies to foster a culture of recognition that can be practiced on National Thoughtful Day and throughout the year: Make Recognition Shareable Recognition can be shown in many forms, but in today’s tech-forward work culture, enhancing the shareability of individuals’ accomplishments can be pivotal.Visible recognition creates a ripple effect, boosting morale and fostering a sense of community across an organization. Whether through social media, team meetings, or company communications, encouraging colleagues Read more @ https://hrtechcube.com/recognizing-all-employees-this-national-thoughtful-day/

With this knowledge in mind, here are four strategies to foster a culture of recognition that can be practiced on National Thoughtful Day and throughout the year: Make Recognition Shareable Recognition can be shown in many forms, but in today’s tech-forward work culture, enhancing the shareability of individuals’ accomplishments can be pivotal.Visible recognition creates a ripple effect, boosting morale and fostering a sense of community across an organization. Whether through social media, team meetings, or company communications, encouraging colleagues Get Personal Beyond recognizing excellent performance, personalized gifts reflect a leader’s interest in their employees as individuals. Does one of your employees have an obsession with shoes? Consider a personalized e-gift card to their favorite brand to show that you really know them. A personal touch not only deepens connections but builds trust, and conveys the message that each team member is valued. Find ways to learn more about your team throughout the year through surveys, and opportunities to share personal experiences. Keep Things Flexible Flexible work arrangements and time off are not just about convenience; they signify a deep understanding and appreciation for employees’ diverse needs. On this National Thoughtful Day, it’s worth emphasizing how these practices can lead to a more productive, engaged, and resilient workforce, aligning perfectly with today’s evolving work trends. National Thoughtful Day serves as an important reminder to pause and take the time to acknowledge and appreciate the diverse contributions of all team members. Let it be a catalyst for fostering a culture of recognition that resonates throughout the year. Read more @ https://hrtechcube.com/recognizing-all-employees-this-national-thoughtful-day/

Data suggests a new hire will spend 200 hours trying to reclaim expertise, and some of it may still be gone forever. That’s a lot of wasted time and lost value. Wouldn’t it be better to leverage expertise now — before employees leave — to improve proficiency across the board? Start by creating a knowledge bank. Why you need a knowledge bank Workers at both ends of the career spectrum are leaving the workforce. The oldest workers are retiring, some earlier than expected, taking with them decades of institutional knowledge. Meanwhile, nearly 70% of surveyed millennials and Gen Zers are thinking about leaving their jobs in 2023. Organizations must preserve the knowledge of these workers before they leave so business continues as seamlessly as possible and new employees can get up to speed early in their tenure. Read more @ https://hrtechcube.com/4-tips-for-preserving-institutional-knowledge-amid-high-employee-turnover/

Businesses are losing employees at a staggering rate. Between layoffs, voluntary resignations, and retirement, organizations risk losing crucial institutional knowledge that informs business strategies and offers insight into customer behavior. Data suggests a new hire will spend 200 hours trying to reclaim expertise, and some of it may still be gone forever. That’s a lot of wasted time and lost value. Wouldn’t it be better to leverage expertise now — before employees leave — to improve proficiency across the board? Start by creating a knowledge bank. Why you need a knowledge bank Workers at both ends of the career spectrum are leaving the workforce. The oldest workers are retiring, some earlier than expected, taking with them decades of institutional knowledge. Meanwhile, nearly 70% of surveyed millennials and Gen Zers are thinking about leaving their jobs in 2023. Organizations must preserve the knowledge of these workers before they leave so business continues as seamlessly as possible and new employees can get up to speed early in their tenure. Beyond voluntary resignations, the current economic climate has forced many organizations to make difficult decisions about rightsizing their teams. So far in 2023, there has been a nearly 400% increase in layoffs compared to the same period last year. Companies are looking to save on long-term expenses by reducing their force, but laid-off workers can cost more than many organizations anticipated because of the knowledge gaps that are left behind. Read more @ https://hrtechcube.com/4-tips-for-preserving-institutional-knowledge-amid-high-employee-turnover/