In 2006 we conducted a study of client CFO’s and their Human Resources departments in Birmingham England, Northern Virginia and Los Angeles. The objective, was, in part, to determine how extensively they used Monster.com and the results.
Here are two (2) interesting facts that indicate a company that values Human Capital and wants to develop a strong corporate culture based on credentials and character won’t use Monster…
1. Fifty nine percent (59%) of those employees hired using monster.com were not promoted inside an eighteen (18) month period; and,
2. The average time an employee hired through monster.com stayed at a company was only nine (9) months.
This means the Human Capital COST /1 associated with employee attrition, replacement, and decreased productivity was prohibitive to growth and cultural development. The average company that hired the majority of their sales people through monster.com reported a quarter over quarter loss.
I love my job.
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/1 For more details, see BLOG entry “The True Cost of Employee Attrition“.
Filed under: Articles By Brian Cork, Business
[...] See more about this in our prior post “Monster Fun Facts”. [...]