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Why Companies Overspend on Recruiting and Underspend on Retention
I’ve been stewing over this for a while, because the disconnect is absolutely mind-boggling. On the one hand, companies shell out massive amounts of cash to ...
On the one hand, companies shell out massive amounts of cash to snag new hires—signing bonuses, cushy relocation packages, recruiters working overtime. They’ll pay $180k to a brand-new developer, but heaven forbid they give the existing person a $40k bump to match industry standards. Bottom line: If companies invested even a fraction of their recruiting budget in retention strategies, they’d save themselves a mountain of headaches, keep essential knowledge in-house, and maintain team morale.
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