Statistic #1: 58% of applications contain inaccuracies
What It Means to You: More time weeding out falsehoods versus honest mistakes.
How You Can Apply it to the Workplace: Consider an Applicant Tracking System (ATS) to weed out applicants.
Statistic #2: 61% of HR departments go through a reorganization or redesign within 2 years
What It Means to You: You won’t be able to rely on the same people or business process for long.
How You Can Apply it to the Workplace: Keep good digital records to improve workplace continuity.
Statistic #3: Nearly half, 50%, of companies expect to move HR to a shared service environment
What It Means to You: You will need to be adaptable to new ways of doing business.
How You Can Apply it to the Workplace: Embrace opportunities to learn new technologies and processes.
Statistic #4: 90% of performance reviews don’t stimulate high performance overall, according to a study done by the Society of Human Resource Management
What It Means to You: Traditional review processes might not be working to improve workplace performance.
How You Can Apply it to the Workplace: Use 360 degree feedback reporting
to motivate your employees and gain consensus in the performance process.
Statistic #5: A negligent hiring case lawsuit can cost your company up to $1 million and in 79% of cases the employer loses
What It Means to You: You must take reasonable care to make sure you hire qualified candidates.
How You Can Apply it to the Workplace: Have a stringent hiring process, with proper vetting.
Statistic #6: 50% of your employees are not engaged in their jobs, and another 20% are actively disengaged, according to a 2013 Gallup report.
What It Means to You: Motivating employees is a constant challenge.
How You Can Apply it to the Workplace: You can increase productivity by 42% with one-on-one performance coaching.
Statistic #7: Your engaged employees, 30% of your staff, are going to be the primary source of new business ideas and clients.
What It Means to You: Recognize and reward those employees.
How You Can Apply it to the Workplace: Spotting the superheroes in your staff may take 360 degree evaluations.
Statistic #8: The price tag to replace a salaried employee that quits is $7,000.
What It Means to You: Employee retention is important for the bottom line.
How You Can Apply it to the Workplace: Maintain a superior environment that keeps employees engaged.
Statistic #9: The majority of drug abusers, 75%, have a job.
What It Means to You: You can end up facing a negligent hiring claim.
How You Can Apply it to the Workplace: Use pre-employment screening with drug testing.
Statistic #10: It is estimated that by 2025, 75% of employees will be Millennials.
What It Means to You: Attracting Millennials is important to your company’s future success.
How You Can Apply it to the Workplace: Provide benefits that this cohort responds to, like shared workspaces and flexible hours.