How Does Wage Analysis Improve Employee Quality?
Many workers in the current economic conditions are facing tough times. Not only are unemployment levels skyrocketing as a result of the ongoing pandemic, but established workers are not receiving pay increases to meet changing inflation and rising costs for everything from housing to healthcare. For this reason, employers must keep up with changing pay scales as they continually work to build long-term relationships with employees as they grow. But how does wage analysis improve employee quality for an organization and what are the key benefits of increasing wages to market standards?
A wage analysis and adjusted wages plan can often help a business in three critical ways. First, employee retention will become much more manageable. In most cases, low pay is among the top reasons employees begin doing poor quality work and dissatisfaction. Second, poor quality employees have a direct impact on the profitability of a company. This problem can quickly be remedied by increasing wages and making employees feel fulfilled with their current position. Finally, wage analysis is crucial for growth – particularly during ramp-up phases. Sharing in the accumulated wealth through the hard work of employees is an integral part of expansion efforts.
Increased wages and a focus on employee satisfaction are critical for improving morale. When employers take the time to focus on the well-being of their employees and the quality of work that they are providing, they will often reciprocate by ensuring they are benefitting the company's overall goals. In essence, employees will work to "pay back" the raise they receive while working their hardest to ensure that they retain their current position while also working to achieve a higher placement within the business. A wage analysis can seem like an intimidating process; however, the team at Certified Source can make the process simple with our performance based staffing services.
How Can Targeted Recruitment and Retention Programs Eliminate Poor-Quality Employees?
The first step to eliminating poor quality employees is to determine the specifics qualities, tasks, and skills you are looking for in each position. By communicating requirements for each position, the companies' choices will narrow to only applicants who meet these qualifications and are more likely to deliver high-quality performance. Companies will not have to guess how an employee will perform with a targeted recruitment program and can lower the risk of hiring underqualified personnel.
After finding the candidate that is the right fit for your company, developing a top-tier retention program to eliminate poor-quality employees is essential. Retention programs do not only lower turnover but capacitates employees and motivates them to improve their performance. By implementing retention practices throughout the company, goals such as money-saving, improving performance, communication, and client relations can be easily achieved. Examples of retention practices are:
- Implementing socialization practices
- Offering training and development opportunities
- Driving supervisors and management to work on development and communication skills
- Offering multiple opportunities for employee engagement
- Recognizing good performance with compensations and rewards
By ensuring employees feel valued and appreciated in their job, quality improves. Therefore, the key to eliminating poor quality employees is by implementing recruitment and retention programs. It is a long-term effort, but the results will benefit the business, clients' relationships, and employee lifestyles.
When developing recruitment and retention programs, recruiters and hiring managers must determine the cost and benefits of the programs by studying the patterns of the problem within the company. For example, consider exit interviews to identify turnover patterns and utilize information obtained in these interviews to listen to employees' concerns and prevent poor quality performance. Implementing continued cycles of evaluation to identify opportunities and need for improvements. It is also essential to invest in corporate development and training.
A business can only expand into the future if they invest in solutions to eliminate poor quality employees. Simultaneously, they must focus on recruiting and retaining high-quality employees who are dedicated and excited to perform well in the company. If you want to improve the quality of your company, investing in these programs will secure long-lasting and increasing business opportunities.
How Might Pre-Screening Reduce Poor Quality Employees?
By implementing a pre-screening process, companies will be filtering out any candidate who might be underqualified for a position. By simply stating there is a background check required as part of an application, the number of candidates will lower to only those who are truthful on their application and do not have a problem proving their actual skills. In other words, unfit candidates will eliminate themselves from the process, altering recruitment to a faster, accurate, and money-saving method.
When companies first implemented these processes, industries noticed that all their new employees held the company on a higher standard and were more respectful towards conserving its image. Additionally, with pre-screening, a business can be strategic. It might be able to modify the process to find candidates that possess specific characteristics they would like to include in their work environment. Essentially, it can transform its public image, meaning it will control how it wants to be portrayed for customers, competitors, and the press, encouraging only fit candidates to apply for the open position.
Pre-screening can also ensure employee quality by implementing tests showing proof of qualification to complete specific job demands. For example, if an IT company is looking for a candidate with experience in particular software, a short software test should prove the candidate's knowledge. Pre-screening can also reveal any issues the company wishes to avoid, like a history of workplace violence, criminal offense, sexual misconduct, fraud and misrepresentation, identity theft, poor credit history, breaches of confidentiality agreements, and more.
Implementing bad hiring decisions can critically affect your company in all aspects. With processes explicitly made for your company's needs, pre-screening will find all the top talent available and limit the chances of poor-quality performance on employees. This helps eliminate any work-related problems in the future and allows the company to invest time and money in growth opportunities. Fortunately, Certified Source can make it easy with performance based staffing services.