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Every year CEO magazine surveys Chief Executive Officers’ opinions regarding the ease of doing business in different states. The survey specifically asks about the states in which the company operates. This year we were asked to provide a recommendation to a particular Governor. We choose New Jersey. Past surveys conducted by CEO Magazine has ranked New Jersey in the bottom 5 of all U.S States; meaning there are 45 other states that are more desirous to do business in. Look for our quote in CEO Magazine.
Steven Lindner, Ph.D., Chief Executive Officer of The WorkPlace Group(r) feels that New Jersey needs to financially motivate and ease the way for entrepreneurs and businesses to invest in people and assets. Depression and stagnation is too high among those with the greatest ability and drive to make a difference to those who need work and a better quality of life. High taxes and costly regulations on businesses inspire companies to go outside the state and the U.S. They also decrease assets available to employ people. Become business friendly or forever fail to meet state fiscal requirements. I have great expectations of Governor Chris Christie. Democrats and Republicans are both counting on his ability to bring New Jersey back to the top of CEO’s survey.
What recommendation would you have to share with New Jersey’s new governor, Chris Christie?
Buyers of Recruitment Process Outsourcing (RPO) services when comparing their own costs to those of an RPO need to dig deep in the data to answer the big question of Return On Investment (ROI). What does it truly cost to deliver recruitment services to their organization and what is the return on that investment to their organization?
A cost-per-hire (CPH) or a Recruitment Cost Ratio (RCR) capture only a portion of the relevant costs - although in theory should include all costs. Costs are more than just agency fees, advertising, and career fairs. Costs include payroll, taxes, and fringe benefits of staff, training and travel costs, office costs (telephone, internet, PC’s, etc.), technology and software, legal and IT support services and don’t forget the costs of the office space itself.
To identify all costs it’s often useful to answer the question: If the recruitment function was a stand alone company how much money would you need to operate it?
Once you have identified all your costs, the more important question of return can be answered. Did the investment yield an acceptable return while at the same time meet desired standards of quality, timeliness and quantity? Can you receive a better return elsewhere (i.e., by outsourcing to an RPO)?
When answering the ROI question, the analysis often suggests that certain functions or levels are better outsourced while others are best performed in-house.
When it comes to deciding if and what to outdsource, we believe the ROI metric is the metric of choice.
Given these challenging (yet very interesting) times, many of us are trying to get a “leg up” on the competition by building large LinkedIn networks in hopes that they will help us land a job (or at least an interview) or introduce us to a business opportunity. But one can’t help but wonder … Is it size that makes the difference? It seems to me that, as with most things in life, the answer is “it depends.” It really comes down to the purpose for which you are using LinkedIn.
