Stan Davis: Senior Vice President of Human Resources and Organization Development, American Red Cross
December 1, 2001
Training Magazine article
by Martin Delahoussaye
Stan Davis had been at his desk at the American Red Cross for just 22 days when the horror of the Sept. 11 attack on America flashed across the nation's TV screens. Read More . . .
June 14, 2004
Washington Times Article
by Jay Whitehead
. . . . Last week, I sat down with Stan Davis, Vice President of TowerHunter, a leading executive search firm. Located in their Washington, DC office, we discussed a variety of talent-management issues including outsourcing recruitment, investing in employees for internal promotions, and the real price of employee turnover. Below is a summary of our interview and your questions can be emailed to him directly at sdavis@towerhunter.com.
Why is hiring the right people so important to the bottom line?
A qualified and talented employee might cost you dearly in salary, benefits and perks but the cost of hiring the wrong person will far exceed the compensation offer to the right person. The cost of replacing any productive employee will run between 50% and 100% (or more) of annual pay. Hiring the wrong replacement will force you to repeat this process and compound the cost.
What costs make up the heavy penalty for a bad hire?
Vacant positions will delay business decisions and activities, impact productivity, increase overtime or contract labor costs and reduce service levels to customers. And, even a qualified new hire will cause three to six months of reduced productivity while they come up to speed. As importantly, a swinging door of departures and new hires can undermine the staff morale that is critical for maintaining, nurturing and driving all of your investments and operations.
How does a company minimize hiring costs?
Strong planning. Just like companies plan for equipment and services to meet business objectives, they must also plan for the right people to make it all happen. Focus on developing and retaining the talent you already have - make sure they're challenged and trained, recognized and competitively rewarded, and that they know they're an important part of your team. If you're successful, you'll minimize your turnover, increase morale and eliminate costs.
What advantages does an outside executive search firm offer in the hiring process?
In addition to deploying the right resources and experience to quickly produce the best talent for an open position, a good executive search consultant will provide you with experienced, unbiased operational and organizational insights as the search strategy and process proceed. Our third party insight is an asset to match the field of candidates not only to the job requirements, but also to the business culture and operational character.
ARTICLES WRITTEN BY STAN DAVIS:
Put the right player in and your team wins
Dec. 10, 2007:
Providence Business News article
by Stanley H. Davis
We recently interviewed 20 corporate leaders who acknowledged that their next failed hire won’t be their first. As C-level executives, corporate recruiters and search consultants, they all know the right steps to find great, new leaders. Recounting their recruiting missteps was not pleasant, but it certainly was instructive. Read More . . .
Decisive leadership counteracts tough times
Jan 21, 2008
Providence Business News article
by Stanley H. Davis
Every recent survey and analysis points to the approach of a tougher economy. The Financial Times’ John Gapper recently looked into the face of the “growing expectations of a U.S. recession” and the “varying degrees of uncertainty and worry” for business leaders for 2008. “The common theme is that the landscape is more treacherous than a year ago. It could also be a year in which the brave and deep-pocketed thrive at others’ expense.” Read More . . .
Contact Stan Davis for more information.