No matter what franchise or location the common denominator for all dealers is finding and keeping quality people. This can be the most difficult and expensive task dealers face. Investing in the wrong person and time, money and resources can be wasted and sales can suffer. Performance analytics can be skewed by perception or the possibility of improper placement in job roles.
The average cost of sifting and recruiting plus the administrative time for running different systems for up to 100 people can be quantified at an average of $8000. The average cost of attrition for 1 person based on a Salary of $45,000 is $60,000 considering lost productivity, recruitment time and costs as well as training and induction costs.
Similarly, performance management of current employees can be extremely challenging. The average performer only delivers 2 times their salary while top Sales performers are worth 3.5 times their salary. The ability to identify the markers, attributes and capabilities can be vastly rewarding.
The HR Cycle of an Employee starts with recruitment. Dealers look high and low for talent and seek out quality employees via trade publications, all the online resume centers and even hire recruitment facilities to do the leg work and take a heavy fee. Once the selection process occurs then the training begins and there is a Performance phase of new selections followed by a development phase. This development phase is where talent is harnessed and implemented in the best operating capacity. Depending on Growth opportunities, you move your developed talent to new positions and then the Succession Plan and Transition Plans must be considered and then the entire process starts again.
Solutions for these issues and HR Cycles efficiencies can me managed with the reliable data. HRM Force’s Platform provides an innovative online HR Workflow with psychometric assessment solutions for efficient recruitment and sales performance optimization. Through a wide array of online testing and feedback Q&A, they are able to identify the markers and abilities of a certain candidate. Taking it one step further, they can also identify performance feedback, employee satisfaction as compared to their production numbers and managerial comments.
The goals – using a predictive behavior index can help identify the right candidates and the employees most likely to succeed. Effective performance management drives employee engagement and it has been proven time and again to correlate with increased productivity, profitability, customer satisfaction and much more.
The ancillary benefit of using a tool like this for performance management is that it promotes clarity and transparence for relieving employees that are just not a good fit. The average cost for an employer to defend themselves in litigation whether you win or lose is $10k on average, and imagine if you lose. The data and performance analytics that a system like this provides justifies the employer actions.