Every company leader knows that the biggest cost of doing business is most often labor. Employee wages, benefits, payroll, and taxes can comprise up to 70% of a company’s cost structure, and that number is rising as the economy improves.
Waiting is the worst, isn’t it? When was the last time you were in a hospital, either because you were sick or you were helping someone else? Things take forever in a hospital. Waiting for tests. Waiting for test results. Waiting to be discharged. How about traveling in the airport? Waiting in line for security. Waiting for your plane to board. Waiting to take off. Waiting to get off the plane ... and that’s all if your flight goes smoothly! Or, how about waiting in line at the DMV?
Recently, a group of well-known publications (Fortune, Essence, and People in Español) teamed up with Great Places to Work to release their first “50 Best Workplaces for Diversity” report, bringing more attention to the topic of diversity and inclusion (see their methodology and a full list of the results here).
One shining example of how much the world of recruiting is changing is the emergent importance of Candidate Experience (“CX”). It wasn’t long ago that finding a candidate was the key to filling jobs, and certainly, many times finding a candidate was a hard enough challenge for companies.
Today, times are different thanks to technology tools, job boards, and social networking sites. You might be able to find candidates, but having a great job isn’t enough to win them over. To attract the talent you need to succeed, your challenge is now engaging those candidates by providing a great experience so that they want to work for you.