SOUTHBURY, CT--(Marketwire - August 31, 2010) - Business ownership is on the rise and the entrepreneur segment is the only one adding new jobs to today's economy, according to AdviCoach, the premier source for business coaching and advisory services customized for small to mid-size businesses. In this environment, AdviCoach maintains that business owners can benefit greatly from creating an Employee Acquisition Plan to make certain that they attract high-quality employees to their businesses and avoid the costly residual effects of a bad hire.
"Employees with the right combination of skills, personality and drive can be very hard to find," says Brian Miller, COO and president of AdviCoach. "And when the hiring process fails, companies typically spend an average of 67 days and an additional 30 percent of the proposed salary trying to replace the bad hire."
Miller says that the solution is to put some time into creating an Employee Acquisition Plan. "A good Employee Acquisition or Talent Recruitment Plan will consistently generate more than enough leads and attract high quality employees," adds Miller. "And it should include the use of multiple recruitment strategies to market for employees in creative ways."
A recent study sponsored by PricewaterhouseCoopers involving six different industries found a "significant" link between employee retention and the retention of customers. On average, 60 percent of the 3,000 customers interviewed were dissatisfied with the service they received, citing turn-over as a "crucial factor." Most respondents stated that lack of employee continuity and poor training impeded high-quality service.
"A successful Employee Acquisition Plan starts with a definitive job description that supports the function needed and the culture of the environment as well," says Miller. "Then define a process in your plan which allows you to recruit the very best talent available and include a step where the candidate sells himself to you. The process should also include phone screenings, an 'on the job' interview to see how the candidate reacts in real situations and proper reference checking," Miller added.
AdviCoach business coaches work with business owners using a powerful, interactive diagnostic process to assess business performance based on 21 critical best practice areas, including staffing concerns, that are aligned with Rapid Impact Strategies to address gaps and drive immediate results. AdviCoaches help clients prepare for economic changes by assessing the current state of their businesses, identifying and addressing challenges and new opportunities, educating them in business best practices and holding them accountable for short and long term business goals.
AdviCoaches work collaboratively with clients to provide customized education and business strategies applicable to each stage of business development. Unlike traditional consultants that specialize in a particular business discipline or industry, AdviCoaches deliver a variety of services to enhance the performance of small to mid-size businesses in any industry.
To learn more about AdviCoach, please visit www.advicoach.com.
About AdviCoach
AdviCoach is the premier source for business coaching and advisory services customized for small to mid-size businesses. With its unique "AdviCoach Advantage," AdviCoaches help businesses increase their ROI and deploy a multitude of Rapid Impact Strategies to impact the bottom line of their business. Today, AdviCoach, along with sister company The Entrepreneur's Source, dominates the $1.5 billion dollar Business Coaching/Consulting franchise market with 33 percent market share in North America. AdviCoach was recently ranked in the Top 100 new franchises by Franchise Market Magazine and listed in the Franchise 500 by Entrepreneur Magazine for 2 consecutive years. Other news on FSBI international brands can be found on www.FranchiseNewsRoom.com.