Implementing A Hiring Strategy To Maximize Financial ROI
The root cause of the problem seems to be the lack of a CEO-driven talent strategy, combined with some CFO-like financial rigor. Most companies have talent-related mission statements, but these rarely convert to a strategy. If they did, cost per hire would be tossed out, replaced by some quality of hire metric. For some reason converting the "Talent is #1" mission statement into a real strategy with real tactics seems all but impossible unless a big employer brand is driving it. That's why the CFO needs to get involved by looking at the financial impact of bad hiring decisions.