-Megan Patrick-Vaughn can be reached at mpatrick@vbjusa.com
DON’T FORGET ABOUT HIRING
With the turmoil many businesses find themselves in today, the idea of talking about hiring now may seem laughable. But I read an interesting Q&A with Shawn Boyer, CEO of hourly employment website SnagAJob.com, today that got me thinking.
Companies that choose to strategically hire employees during a downturn are more likely to protect their bottom line over the long term – they can sail through troubled waters by keeping their turnover low and maintaining customer loyalty, Boyer said.
Other points he made:
• Some companies may think they can save money by hiring less, but by skimping on recruitment, they may end up creating more expenses. Having three people responsible for a six-person job will quickly result in low morale and costly turnover, should any of the remaining staff choose to leave. Plus, customers who don’t receive attention in a timely manner because staff is at its max will look for services elsewhere.
• Spending less on recruitment could cost the business more in the long run. The company can save thousands in turnover costs by hiring wisely – implement a recruitment plan now.
• As companies struggle in this tumultuous economy, employees are the lifeblood of any business. They are the ones who deliver the products and develop customer relationships – recruit wisely.
I want to know what the hiring situation is like at your companies. How is it affecting the business? If you’re in a freeze, how is the rest of the staff responding? If you’re hiring, why do you feel comfortable doing so?
Share your responses on the Just Business blog.
