attracting & retaining talent through culture

The visible cost of turnover, including recruitment, hiring, orientation and training sits somewhere between 50% and 150% of an individual's salary. The additional unknown costs such as loss of expertise, reduced productivity, lower morale, the cost of the vacant position and the training of the new hire, means the true cost of turnover may be up to three times this amount. While it is important to incorporate more flexibility in order to accommodate the changing demands of the new generation workforce, it is imperative to retain mature workers to safeguard corporate memory. To protect the corporate memory and enhance the corporate culture, the retention of mature workers is essential.

The challenge for employers as we set it, is to balance the cost of turnover with the need to inject the organisation with new talent and fresh ideas.

Mettle works with organisations to establish their attraction and retention strategies in the context of a carefully designed and executed culture by following some key steps, i.e.

Step 1: Define your business strategy. It if critical that Hr is involved in this process from the start
Step 2: Assess your current culture and identify if it is the right one to achieve your business strategy
Step 3: Understand and act on the results of your culture audit
Step 4: Prepare an Employee Value Proposition (EVP) based on your desired culture
Step 5: Execute the EVP by living the values through each of the levers depicted in the model below.

further readings

 Designing the Right Culture to Attract, Retain & Develop Talent | Mettle Detector Paper | Oct 2007 | Katharine McLennan, Amanda Rudd & Craig McCallum

 On Your Mettle Culture Expert: Designing the Right Culture to Attract, Retain & Develop Talent | Human Capital | Oct 2007 | Craig McCallum

 Fight the urge to relax over festive season drinks HR Professionals | Mettle Press Release | October 2007 | Craig McCallum

 Mettle Presents at the Director's Forum and discusses 'Aligning employee behaviour with business objectives' | Aug 2007 | Craig McCallum