Does your company become something other than what it really is during the recruiting process? Do you pull out all the stops to attract the best talent, treat them to expensive dinners or make promises of work-life balance and unlimited growth opportunities? If that’s consistent with what job applicants will see when they sign on, great. But if you’re putting on a show to lure candidates away from the competition, your retention rate is bound to suffer.
Recruiting, like a first date, sets up expectations. Today’s employees are not afraid to quit if high expectations are dashed after they come on board. With unemployment at 4.5 percent, good candidates who feel mislead don’t have to look far for their next opportunity.
More importantly, high turnover comes at a high price. Recruiting expenses, combined with training time and lost productivity while a job is vacant, can add up to significant bottom-line losses.