We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
Home » the price of talent
labor pool

the price of talent

July 1, 2007
Donald Jacobson and Shelley Safian
No Comments

Human resources management is more art than science, and most HR managers wouldn't have it any other way. But there may be days when you wish you could just plug numbers into an accounting formula to get an idea of a job applicant's potential value to the company. Happily, it turns out there are some ways to "quantify" a candidate's potential contribution. Here are some things to consider:

  • Equity investment. Does the candidate already have the skills needed for the job, or will he or she require training? Although all new hires will need orientation, some will be productive sooner than others. How do you determine which ones are likely to offer a quick payback? Ask open-ended questions during the interview about their knowledge and skills. Request proof of their accomplishments, such as certifications, certificates of completion, or degrees from accredited schools and organizations. If the job requires operating a forklift or driving a truck, have the candidate take a test drive. That's not to suggest you should always give preference to experienced people over entry-level applicants. The idea is to get a sense of how much the company will have to invest in training the person before it begins to see a return.
  • Fair market value. What's the going rate in your area for someone with a given candidate's training, skills, and experience? Keep in mind, however, that determining the going rate isn't always as straightforward as it might seem. Before you can make valid wage-scale comparisons, you have to know exactly what those other companies are paying for. Say that you find that the outfit across town offers $2 more an hour for a forklift operator than you do. If you do a little research, you might discover that your cross-town rival requires that applicants have a license, while your company covers the cost of training as well as the licensing fee.
  • Estimated duration. Short of a crystal ball, there's no way to know how long someone will stay with your company. But his/her resume may provide some clues. For example, a string of short stints may indicate that the candidate has a bit of wanderlust in his or her DNA. If that's the case, be careful. He or she may not stick around long enough to make hiring him or her worthwhile.
  • Goodwill. Don't overlook the applicant's potential to generate goodwill for your company. This isn't something to think about only when hiring for sales and marketing slots. Most employees will have contact with the outside world at some point or other. Truck drivers, for instance, will interact with loading dock personnel at your client companies. Because your employees are the public face of your company, you'll want to be sure that they're making the right impression. During the interview, take note of the applicant's social skills. Be alert for a tendency to blame others, to complain, or to try to create a bond through negativity.
  • Intellectual property. What does this applicant have to offer beyond simply filling a chair? Does he/she have other skills or abilities that will enhance the department's performance? A supervisor who coaches his son's Little League team on weekends might be able to put those same skills to good use running the department's mentoring program.
  • Revenue generation. Again, this isn't just something to look for when hiring people for sales and marketing positions. Every employee has the potential to generate revenue for the company—or if not generate revenue, at least the capability to keep costs and expenses in check.

One other note: When it's your turn to be the candidate—instead of the hirer—keep these "valuation" components in mind. They're a great way to convince your interviewer how valuable you'd be to the company.

Business Management & Finance
  • Related Articles

    the price of success

    CSCMP Europe Conference 2011: two events for the price of one

    Prologis begins building "pipeline of logistics talent"

Don Jacobson is the president of Optimum Supply Chain Recruiters, a recruiting organization that specializes in the placement of management personnel in the logistics field on a nationwide basis. You can reach him by calling Optimum SCR at (800) 300-7609 or by visiting the firm's Web site, www.OptimumSCR.com.
Shelley Safian is vice president of marketing for Optimum Supply Chain Recruiters, a recruiting organization that specializes in the placement of management personnel in the logistics field on a nationwide basis. You can reach her by calling Optimum SCR at (800) 300-7609 or by visiting the firm's Web site, www.OptimumSCR.com.

Recent Articles by Donald Jacobson

Survival strategies for logistics professionals

temporary help for the executive suite

how to deal with survivor's guilt

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Schneider welcomes first battery-electric truck

  • Fred Smith is not worried about Amazon

  • RJW LOGISTICS GROUP EXPANDS RETAIL LOGISTICS OPERATION TO DALLAS

  • Maersk deploys indoor drones for warehouse inventory counts

  • Outlook 2023: What’s in store for logistics/supply chain?

Now Playing on DCV-TV

C8c3bc6b a91d 4181 a18f 35f288257630

ACPaQ: Fast and reliable automated mixed case palletizer

DCV-TV 4: Viewer Contributed
Fully Automated Mixed Case Palletizing ACPaQ is a universally applicable solution for fully automated order picking of mixed case pallets based on customers‘ requirements. Its software allows you to customize the palletizing order to increase efficiency during in-store replenishment. The mixed case palletizer...

FEATURED WHITE PAPERS

  • The five best applications for robotic lift trucks in warehouse environments

  • Fulfillment Facility Improved Efficiencies by 4x

  • 3PLs: Complete Orders Faster with Flexible Automation

  • Reusable Packaging for the New Wave of Supply Chain Automation

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing