ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel
  • »
  • Business and Employment»
  • Business Management & Leadership

Retain and Retrain

Updated on October 18, 2011

The cheap and low risk alternative to recruiting

As a recruiter I might get scolded for telling people this but I'm also a business man so here goes... Bad economy? Can't afford to hire new people? Repeat after me, retain and retrain is cheaper than recruiting!

In the good old days when business was good, if you lost an employee you'd just replace them. Even if the position was hard to fill you could hire a recruiter and more than likely find that person. Now, there is way more on the line.

If you lose an employee to a competitor, you can not afford to make a mistake in hiring the wrong person. Sure with the economy the way it is, there are plenty of talented people looking for a job but the true gems are working right now. In an uncertain economy they are reluctant to make a move because if it does not work out, it is much harder to find somewhere else to work.

So, what is a company to do? I say retain and retrain. Keep your workforce focused on the future and engaged in the company. Think about the cost of replacing a productive employee. Everything from recruiting costs, on-boarding and training that new person. What is the cost if it does not work out and you have to do it again?

Compare that cost and risk profile to retaining or retraining an existing employee. Hands down the finance people will say retain or retrain!

There are lots of good sites out there on retention like at Staffing and Recruiting Essentials where you get some insights to what they call the SAM approach to retention.

Retraining is often an internal matter where you have an employee that you want to promote to a vacant position and update the skills to handle the new position. Sometimes it involves external resources and classes but either way it is cheaper and a better risk in this economy than the direct hire recruiting route.

So I'll leave you with this mantra, retain and retrain, retain and retrain....

 

Comments

    0 of 8192 characters used
    Post Comment

    • Tom T profile image
      Author

      Tom T 7 years ago from Orange County, CA

      @Powerpoe1...you are busy tonight. Employer need to reflect on the cost of replacing someone. That little investment pays dividends you may never see but it is worth it.

    • Powerpoe1 profile image

      Powerpoe1 7 years ago

      I like this topic Retain & Retrain. So true, Great prices on your Amazon leadership books. Voted Up & Rated Awesome~

    • profile image

      revivor 7 years ago

      very good - like the mantra!!

      I came to this from redgage by the way - just so that you know that redgage is working!!

      http://www.bukisa.com/articles/310397_redgage-inco...

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: "https://hubpages.com/privacy-policy#gdpr"

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)