How to Determine the ROI of a New Employee ::

In the current business climate, pharmacy recruiters who are trying to make the case for investing in new hires need to show organizations what kind of return they are going to get for their investment.

Here are ways to show that the ROI will be a positive one.

Have a Method

Establish a set of metrics to demonstrate the return on investment. One way of doing this measurement is through a cost-benefit analysis. If you can show that one of the costs will be missing out on profit, it will make a convincing case to hire. Pharmacy organizations may lose out on profits if, for example, they do not have enough people to handle questions from customers, or if they do not have enough IT staff to handle their computer needs.

When determining costs, make sure to cover everything, costs that are obvious and not so obvious, from recruiting and onboarding to training. Demonstrate that you will hold down costs wherever you can.

It will be easier to tabulate ROI for some positions than others. For example, it is easier for salespeople, who have a direct impact on revenue. They either make their sales quota or not. But for people who work in the back-office-end of things – bookkeeping, HR — it may be a little more difficult. But even so, it is still necessary to assign a dollar value for these roles, as well.

Show Preparation

Demonstrate that you will be able to make a good hire because you have prepared well – you know what you are looking for and why, you are clear about the role and responsibilities of the job.

Use the Right Tools

To execute the recruiting process in the most efficient manner, recruiters need the right tools – the computing programs with the analytics that enable recruiters to make good decisions and move rapidly. Recruiters need to have the data that will enable them to access the most promising candidate pools and sourcing channels. In the end, this will actually save money.

Hire Only the Best

To show the greatest ROI, hire the best people you can. Companies are going to be more reluctant to hire mediocre or merely adequate people because the return on investment becomes a bigger issue.

If you are a pharmacist or pharmacy technician looking for work, Cameron and Company can help you. We provide temporary pharmacy professionals to healthcare organizations nationwide. With more than 45 years of experience, we have the expertise and knowledge to help find a job that is right for you. Give Cameron and Company a call today.

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