Online Exclusives

Retention versus recruitment

By Rock LaManna | December 18, 2013

In the specialized label converting business, a good retention program can keep competition at bay.

Employees are the backbone of any company, but in a highly specialized industry like label printing, they are the lifeblood as well. This is why, when faced with the question of retain or recruit, label companies should choose to retain.

Here are some key reasons:

Keeps your competitors at bay. It’s common knowledge that in a specialized industry, the best way to recruit is to poach from the competition. After you’ve worked so diligently to train an employee, allowing them to be snatched up by the competition means you now have to rehire and retrain…with the threat of the staff member being snatched up again. A good retention program can keep the competitors at bay. 

Doesn’t over-extend your HR department. Most HR departments do a great job at keeping employees informed of benefits, internal policies and payroll. Where they stumble is the recruiting. Sure, they can create a job description, but actively recruiting specialized personnel is a whole different ballgame. It requires actively networking and seeking new candidates. It’s ongoing – not a job posting here and a job posting there. This is all typically outside the skillset and structure of typical HR departments.

Teaches you how to recruit. Obviously, at some point you’re going to get turnover. If you’re actively building and improving a retention program, you’re far more likely to understand what is important to an employee. This will only improve the recruiting package you develop. Think of it this way:  Would you be attracted to the business culture you’ve built?

Saves money.  Gethired.com recently estimated that recruiting a new employee can cost $18,795. You can check out the infographic that breaks that number down here. Needless to say, that’s a lot of money; resources that could work wonders if redirected toward your own staff.

Improves your staff morale. Main Street’s view of Wall Street is extremely negative at the moment. Like it or not, if you’re an owner, you’re Wall Street. Do you want your staff to think of you as a fat cat just out to stuff his/her own pockets? They won’t if you show them how important they are, and what you’ll do to try and keep them with the team. That means patting them on the back, feeding them, rewarding them, and remembering to wish them a happy birthday. From the little details to the biggest perks, it all adds up in the mind of an employee.



 
Rock LaManna helps printing owners and CEOs use their company financials to prioritize and choose the proper strategic path. He is President and CEO of the LaManna Alliance, and provides guidance on how to grow a printing business, merge with a synergistic partner, make a strategic acquisition, or create a succession plan. Rock can be reached by email at Rock@RockLaManna.com.

- See more at: http://www.labelandnarrowweb.com/contents/view_online-exclusives/2013-12-02/why-todays-cool-hand-luke-owner-will-be-tomorrows-nail-biter/#sthash.3dt7LjvB.dpuf

 
Rock LaManna helps printing owners and CEOs use their company financials to prioritize and choose the proper strategic path. He is President and CEO of the LaManna Alliance, and provides guidance on how to grow a printing business, merge with a synergistic partner, make a strategic acquisition, or create a succession plan. Rock can be reached by email at Rock@RockLaManna.com.

- See more at: http://www.labelandnarrowweb.com/contents/view_online-exclusives/2013-12-02/why-todays-cool-hand-luke-owner-will-be-tomorrows-nail-biter/#sthash.3dt7LjvB.dpuf

Rock LaManna
Rock LaManna helps printing owners and CEOs use their company financials to prioritize and choose the proper strategic path. He is President and CEO of the LaManna Alliance, and provides guidance on how to grow a printing business, merge with a synergistic partner, make a strategic acquisition, or create a succession plan. Rock can be reached by email at Rock@RockLaManna.com.



 
Rock LaManna helps printing owners and CEOs use their company financials to prioritize and choose the proper strategic path. He is President and CEO of the LaManna Alliance, and provides guidance on how to grow a printing business, merge with a synergistic partner, make a strategic acquisition, or create a succession plan. Rock can be reached by email at Rock@RockLaManna.com.


- See more at: http://www.labelandnarrowweb.com/contents/view_online-exclusives/2013-12-02/why-todays-cool-hand-luke-owner-will-be-tomorrows-nail-biter/#sthash.3dt7LjvB.dpuf

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