- 43% of companies cited inadequate definition and evaluation of roles critical to successful performance as the number one mistake businesses make in hiring and promoting managers and executives.
- 41% cited insufficient grooming of high-potential employees through coaching, mentoring and training programs.
- 29% cited using overly subjective criteria and unreliable assessment tools.
- 27% cited too much focus on the basic requirements of the jobs to which people are being hired or promoted - such as managerial and interpersonal skills - and not enough emphasis on less apparent talents, such as morale or team building.
- 10% cited giving inadequate consideration to people from outside the organization.
More reasons why it's critical to find - and keep the right people:
- It costs an average of 2½ times an individual's salary to replace an employee who doesn't work out, including recruitment, training, and severance costs, and lost productivity, according to a survey of 444 organizations throughout North America released by Right Management earlier this year.
- More than four out of 10 organizations (43 percent) said it costs at least three times the employee's salary.