The ROI Of Talent Management Infographic
Below are eye-opening statistics that highlight the business impact of investing in each of these three HR functional areas: recruiting, onboarding and learning, and performance management.
The US Department of Labor estimates that the average cost of a bad hiring decision can equal 30% of the individual's first-year potential earnings.
2. Onboarding And Learning
In a study by Bersin, companies with high-impact learning programs generated, on average, three times higher profit growth than their peers.
3. Performance And Management
Over an 11-year time frame, companies that had a performance management culture grew net income by 756% versus a 1% growth over the same period for those that did not.
The Numbers Don't Lie
Effective talent management simply makes cold, hard business sense. By including projected ROI - and perhaps even some of these statistics above - when pitching your proposed talent programs, you will be well on your way to making a more persuasive business case to the C-suite.