How many clients can honestly say that they hold the complete competitive advantage over their competition when it comes to finding and retaining the best talent on the market? Hopefully, none. The fact remains that most companies or hiring organizations face a never ending uphill battle trying to bring the best people in their organizations, then get them to stay. It costs far more to replace a high performer than to bring one on board; so, do we find that everyone has a sound retention or career planning program in place to make sure the intellectual capital doesn't walk right out the door? I wonder what percentage do, and how comprehensive it truly is.
What's interesting, is that if you put the best people in the right places, and give them a chance to succeed (an be justly rewarded for their success) the pressure on your recruiting engine dimminishes greatly. Networking or word of mouth hiring has the highest success rate when looking at the "Submission to Quality Hire" metric. Take the Mayo Clinic, for example. Highly reputable organization on the cutting edge of research, development, and treatment. How much supplemental clinical staffing do they use? Zero. Nada. Zilch. They have a line out the door to work there. Their reputation proceeds them.
Now, not everyone can be a leader in their respective field, but the point is a company is its people. If the people love working there, word gets out, a reputation is made, and then the respective recruiting organization takes the role of a buyer versus a seller. It all begins with retention... not the other way around, as we would so easily think!
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