In business, the main reason for finding metrics of any kind is to know the details that can contribute to future decisions. If a strategy fails, a company could use metrics to identify specific problems areas.
Businesses must grow to survive, and sales remain the most critical determinant of the growth and survival of any business. If nobody buys your products or services, your business will not generate any revenue.
When an organisation or hiring manager needs to fill a role, there are basic factors that they need to consider. They include things like how to source for a large pool of applicants, where to advertise the position, how to conduct the interview, and so on
When your employees work remotely, how do you know they are actually working? Will they exhibit the execution discipline needed to get work done? Are they less productive working from home? Or will their productivity dramatically increase?
The aim of every organisation is to achieve its business goals. For this to happen, there is a need to have the right people in the workforce. When recruiting prospective employees, every organisation follows a recruitment process—which requires using recruitment assessment tools—whether it is clearly defined and documented or not.
In a poll carried out in one of our recent Webinars on Talent Selection in Our New Normal, all attendees submitted that they had been affected by a bad hire. Other studies confirm this position; for example, Brandonhall.com stated that 3 out of 4 employers had experienced bad hires.
Workforce planning can be one of the best practices a company can imbibe to achieve its strategies. This vital practice should not be seen just as a plan with timelines but as a strategic organisational development activity.
The Covid-19 pandemic, which has shattered people’s lives in every possible way, has also not spared business and economics. As a result, individuals have lost their source of livelihood, students have been prevented from forging ahead with their education and several sectors like hospitality and aviation now face declining patronage.
Reducing business costs and cutting expenses will most likely be at the top of priorities, strategies and plans for a huge number of business executives across the world currently due to the effects the ongoing COVID-19 pandemic has had on businesses and the economy in general.