Value Your Resources!

resourcesIt is no secret that top resources have amazing value if you get the right one, especially in the IT and ERP industry. Several top-notch ERP consulting companies are noticing that their hiring expenses are going through the roof in 2013. The question is: why? The financial implications of a bad IT and ERP hire are astronomical. If you don’t value your resources then you are stuck replacing talented candidates.  It is simple math on why the costs go up: your staff spend dozens of hours creating job descriptions, sourcing, screening and interviewing candidates to hopefully find the perfect fit for your company. Once you hire the candidate you must invest additional dollar resources in training to ensure that this candidate will successfully perform on the job.  Now you have invested thousands of dollars only to learn in the next 30 to 90 days later that you have made a huge mistake and hired the wrong person. Even if the employee stays on board longer than 90 days or 6 months, the wrong fit could cost you a potential IT or ERP project that is worth millions… or worse. Simply put, employee turnover and the exhausting costs associated are why you must value your current resources.


Cost and Employee Resources

The cost of hiring the wrong person is high, and most small to mid-size companies can’t afford multiple mistakes, especially in the technology sector. Not only does the recruitment process begin once more, but they must add the additional costs to advertising the role, time spent re-screening resumes, interviewing in person and by phone.  You have doubled your budget both in wasted employee time and lost revenue Once again you are stuck with more training costs. Your typical IT project or implementation does not have manpower hours to waste. So who are your current employee stars? Can you identify them and when to value them?

Value your workforce stars

Protect your company’s assets and projects by identifying your top talent resources and rewarding them on the job. More importantly, the ability to leverage employee value and create job satisfaction is crucial for company success. You should view your current workforce as the true creators of value for your organization. Whether your company is in IT technology, manufacturing, health care, finance or software, just about all companies have access to similar materials, customer relationship management systems and IT technology. Workforce performance is the key differentiator between your company team and your competitors. Your employee resources are what can make or break your company, so value the top performers. Additionally, the vast majority of most companies’ assets correlate directly to intangible capital such as experience and skills. Studies have shown that a company looses less revenue with equipment loss over a talented workforce. If you are not sure how to evaluate your top employees, start looking at the individuals on your team and notice the ethereal qualities that add extra value like ethics, efficiency, behavior, attitudes and loyalty before the annual human resources evaluations are done.


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About the Author

avatar About Portia Prescott

Portia Prescott, CEO/President, is the force behind Prescott Solutions. A Brown University-educated executive and acknowledged leader in specialized staffing, Portia has recruited former C-level executives, change management leaders, federal government consultants, PR experts, engineering resources, Lean Six Sigma professionals, aerospace specialists, and supply chain professionals from major corporations.

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