4 Ways Qualified Candidates Improve Your Bottom Line
It can sometimes prove difficult to source exceptional candidates on your own – you have a lot on your plate! However, working with a staffing agency ensures that each and every candidate that we match to your positions is qualified, hard-working and dedicated to doing great work. Not only does hiring qualified candidates mean you can build a strong team and a more positive workplace culture, it can also end up saving you a good deal of money down the line in some unexpected ways.
Here are some of the top ways in which qualified candidates improve your bottom line.
They Contribute to Higher Retention Rates
Working with a staffing agency that understands what you are looking for in an employee means that those employees are more likely to stay with that position for longer. When you hire a candidate that is well suited for your position, the likelihood of them leaving – or you having to let them go – is dramatically lowered. Having high retention rates cuts down on costs because you won’t have to replace your workforce as often. The average cost per hire is around $4,000, so having to do this less frequently can end up saving you big time.
They Are Less Likely to Make Errors
Research shows that candidates who are not only good at their jobs, but work within a system of positivity, support and good leadership, are less likely to make costly mistakes. They are also more likely to learn from the mistakes they do make and are more receptive to feedback that will help improve their future performance. Employees that don’t feel engaged at their place of work, either due to their disinterest in the position or their poor relationships with other employees, are logarithmically more likely to make errors that can end up costing a company a great deal of money.
Qualified Candidates Often Need Less Training
Candidates that have some background – or at least, some interest – in the position they are applying for typically need less training and are more likely to be a good fit. On average, training a new employee costs around $1,500. While it is a necessary part of any job, the opportunity to reduce this number even a little bit by hiring suitable candidates is a wise strategy.
This isn’t to say that job seekers with less experience should never apply for jobs that are outside of their training level, or that employers should not give those with less experience a chance because they don’t want to train them. At LPC Personnel, we believe in giving passionate, hardworking people a fair chance.
However, this simply means that those who are more susceptible to learning and listening, and who already have some background in the industry may need less training and attention from management. This allows them to dive into the job quicker and for you to get back to what you do best: managing an awesome team!
Happier Employees are More Productive and Profitable
When a candidate truly enjoys their position, they can be up to 13% more productive than if they were unhappy at work. Employees that are engaged and happy at work are not only more likely to be more productive, but they can increase company profits. A recent study has confirmed that when employees like their jobs and are positively immersed in the workplace culture, their productivity skyrockets and their presence can lead to higher overall profitability. LPC Personnel strives to only place candidates in positions that we truly believe to be a good overall fit for your company, to avoid any potential hiccups in efficiency.
Finding the right candidates starts with partnering with the right staffing agency. LPC Personnel has over 30 years of experience staffing the Greater Houston Area and would be happy to help you improve your bottom line through qualified, stable candidates. Contact us today to get started!