Executive Recruiting Morisey-Dart
July 2011

"The Watercooler"

Executive Recruitment firm

Costs of a Bad Hire:

Are You Really Saving Money by "NOT" Using an Executive Recruiter's Services?
Do you feel like you're ahead of the dollars and cents game when you decide "NOT" to use an executive recruiter's services in your recruiting and hiring plans? Maybe you figure why bring a third party into the situation and pay out a fee, but have you ever really taken a look at the costs involved when your "chosen hire" doesn't work out?

The numbers regarding costs of a bad hire vary, but here are some estimates from various sources. According to Recruiting Times, "It costs $7,000 to replace a salaried employee, $10,000 to replace a mid-level employee, and $40,000 to replace a senior executive."

The U.S. Department of Labor estimates that the average costs of a bad hire may "equal 30% of the first year's potential earnings."

According to a presentation titled, Recruitment and Selection, by the Society for Human Resource Management, "replacing supervisory, technical and management personnel can cost from 50 to several hundred percent of the person's salary."

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We've recently started a couple of LinkedIn groups in the Banking/Finance area and the Managed Print Services (MPS) area; if interested, click on the group names below. We look forward to meeting you online.
"Top 5 Mistakes" Made by Leaders and Managers
(*Source: Executive Velocity)

According to Executive Coach and founder of Executive Velocity, Beth Miller, the following are the "top five mistakes" made by leaders and managers.

1. Focusing on the Urgent and not the Important

2. Lack of Consistent Communication

3. Ineffective Feedback

4. Failing to Define Clear Goals

5. Misunderstanding Motivation

Click here to read more about these leadership mistakes at Executive Velocity.
              executive recruiters                           
Q: I've been unemployed since November 2008. Fifty people lost their jobs with the company I was working for. I planned to move to another state so I decided to take some time off to make the transition. I have now been actively looking since August of 2010, but the phone just doesn't ring. I have joined networking sites, talked to recruiters, reached out to people that work at companies I want to get into and still nothing. I know the unemployment rate is high, but I'm surprised because I have a strong record of success. Although I've done some work on the side, I don't consider it significant enough to put on my resume.

When recruiters/companies are looking at my resume, are they having major reservations because they see I haven't worked since 2008?

A: The short answer is yes. Companies question motivation and begin to ask what other issues could be at play here. In positions where there is a lot of competition, companies and recruiters will almost always pass on a work history that has gone stale.

Having the resources to take some time off is wonderful. In some cases it can be viewed as refreshing and the individual will be a better choice for having taken that time.

Having not worked for 2 years makes me ask the "what's wrong?" questions instead of "what's right?" Work done while searching for a position may seem irrelevant to you, but it sends a different message to others. Companies and recruiters understand that in some areas positions were hard to come by. They will reward those that did what they had to with opportunity before they will for someone that appears to have been on the sidelines.

The question I would ask this individual is what they did to prepare themselves for the new working order. My companies tend to like to see continuous learners, self development, continuing education, project work of any size, or at least something that says current!

If the phone has stopped ringing and people have stopped taking the calls, then the message needs to be refreshed.

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Morisey Dart Group Executive Search

 About The Morisey-Dart Group:

The Morisey-Dart Group executive recruitment firm partners with clients to find the impact players needed to solve problems, meet demands for growth, and control costs, while improving efficiency.  They are specialists in areas such as Alternative Energy and Semiconductor, Document Management Solutions, Managed Print Services, Health Information Systems(HIS),  Health Information Management (HIM),  Financial Services, and Banking and Legal industries.

For more information visit: www.morisey-dart.com

The Morisey-Dart Group
809 Walkerbilt Rd. Suite 2
Naples, FL 34110
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