Ensuring the employees are set for the future has more value now than ever before

by | Mar 10, 2020

Long gone are the days when it was simple to move people in and out of organizations to meet the new skill sets needed to move forward. We are in an age of technological advancements coming in fast where the time required to find, hire, train the organization’s processes and letting someone go will have very little return on investment,

A new generation of young managers is reshaping how we work

BY STEPHANE KASRIEL

As Stephanie described, today’s management style requires more agility and focus on current employees to succeed.

She states, “As these technologies automate many jobs previously occupied by human beings, nearly 1.4 million workers could find themselves displaced, according to a World Economic Forum report. Reskilling these workers for other jobs would cost about $34 billion, or $24,800 per employee, the study found.”

Based on an article from Mile Zivkovic, the average cost to onboard someone into an organization.

The True Cost of Hiring an Employee in 2020

He states

“If you’re replacing someone instead of filling a new position, stakes get even higher. Another research by SHRM states that it takes up to 50-60% of an employee’s annual salary to find a direct replacement. Turnover can be quite costly, summing up to a total of 90-200% of an employee’s annual salary.”

That could be very costly for an organization financially, also will cost moral and motivation for other employees.

Leadership is starting to focus on Providing for their employees. Ensuring there is a learning program, the resources are available for them to get the work done and ensuring any partnerships fit with how they work, as an example, helps create a high employee satisfaction environment.

That is not to say that there should be an end of hiring; there will always need to fill. What these articles are stating that looking within first and determining if, with some training within the current learning program, can help satisfy the need for a faster turnaround to meet demand.

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