What is the most common approach to fill up job openings, well the likely answer is going to be recruiting by conducting an interview, and if all goes well, hiring and then imparting the requisite training.
Competitive Job Market
Given the highly competitive job market situation, companies feel paying a higher salary than the prevailing average, guarantees the best talent. It is a major paradigm shift from the olden days when organizations took employee loyalty for granted.
Static Knowledge
Back in those days, the acquired skill set used to be a guarantee to see them through all the way from college graduation right up to the retirement day. The requisite knowledge to be able to perform routine functions on a day to day basis was at the most static.
New Position
It made eminent sense to ardently lookout for a candidate who had the desired qualifications for the said job. The rationale for over a century was to fill any new position that arose with a brand new employee.
Golden Handcuffs
The present day recruiting market has turned out to be highly competitive, and this time-honored method is still in vogue in the present day and age. Well it turns out the above-mentioned method can pretty well turn out to be one of the most expensive and their riskiest way of going about filling a vacancy, so don’t spend a fortune hiring a superstar, who you try to latch on to with golden handcuffs. They have never been strong enough to ensure cent percent retention.
Final Thoughts
The cost of a new hire grows exponentially due to a number of variables, the recruiting process itself, imparting additional training, new equipment, among many others. Spending a fortune on recruiting is not a very wise thing to do, don’t go about spending needlessly when you may accomplish the desired results without spending a dime. Just take recourse to the various free jobs posting websites and make great savings on this count, while recruiting fabulous talent.
