Silkin Management Group has presented numerous articles over the past few weeks on various aspects of hiring new personnel. These articles were presented to help educate both Silkin Management Group clients and non-clients alike on the vital and most important steps of any hiring process.
We’ve written about legal issues such as discriminatory questions to avoid on applications and interviews as well as obligations to legally disabled applicants. We’ve also gone over what to look for on applications, the types of questions to ask during a hiring interview, an ideal applicant checklist (which you can access at this Silkin Management Group blog site SilkinManagementGroup.net), and many other issues. Feel free to review these articles on our many Silkin Management Group blog sites.
All of this information on proper hiring procedures is based upon several key issues: a) to have the most productive office possible you have to have a team of good staff, working well together to accomplish the mission of the practice, and b) the cost of employee turnover can be very high, therefore hiring the right people who remain with you long-term can save a tremendous amount of money.
The facts are that employee turnover can be very costly. Studies indicate that such a cost can equal 6 to 9 months of the salary of the position. This is based on the costs involved in finding, interviewing, testing, selecting, training and getting a new employee fully functioning on the job. There is also the cost of lost income that can occur during the period of employee development, especially if the position is empty for a period of time.
If the position pays $3000 per month, your costs could be between $18,000 and $27,000 every time the position turns over. That may seem high, but because much of that is a “hidden” cost, you may not see it but you will experience it in the long run. It’s therefore extremely important to test and screen applicants properly and carefully in order to hire the best possible individuals for your practice.
Your goal is to find employees who will work well within the procedural framework of your office and stay, contribute to and grow with your practice. Silkin Management Group has numerous successful hiring practices including tests, applications, interview questions and more that can help anyone with the hiring process. If you would like more information about how Silkin Management Group can help you in this area, contact us at 800-695-0257 or visit our website at www.silkinmanagementgroup.com
Eric Korb
Silkin Management Group Consultant
