Many companies underestimate the actual cost of hiring by as much as two-thirds. This miscalculation can lead to poor decision-making regarding compensation, talent acquisition strategies, and overall budget allocation. Understanding the true cost of hiring allows organizations to accurately assess the financial impact of each new hire, make informed decisions about pay rates, and identify the breakeven point for recouping their investment. This knowledge is crucial for optimizing the hiring process and maximizing ROI.

Company culture is critical for attracting and retaining employees. It is often an "elusive and immeasurable" aspect of a business but the feelings of threat or safety within a workplace is palpable like that of a herd of horses. Employees, much like horses, are highly sensitive to the environment, and a toxic or unsupportive culture can lead to high turnover rates. Conversely, a positive and nurturing culture can foster loyalty, improve productivity, and turn a business into a "premium employer." Companies that can quantify aspects of their workplace culture to impact talent and retention can address issues more effectively.

Oxygen Coaching Group offers a range of services to help organizations navigate challenges such as rapid growth, employee turnover, and negative culture issues. Their services include: managing executive conflict, growth training for management staff, sales training, hiring the right people and keeping them, and creating a desirable and measurable culture that helps retain employees. They use tools like Smart Hire Calculators to identify key problem areas and work with organizations to develop solutions to create a premium employer.

Smart Hire Calculators, also known as B.L.I.S.S., are a trademarked solution designed to determine the optimal rate of pay, calculate the true costs associated with hiring, and identify breakeven points for new hires within an organization. Unlike traditional methods that rely on industry standards, minimum wage, or prevailing wage, these calculators incorporate cross-functional information within a company, providing transparency in the hiring, training, and retention process. This approach accounts for the specific needs of a company and the current employee shortage era.

Smart Hire Calculators primarily provide three key calculations: the true cost to hire, the breakeven point in days, and the optimal rate of pay for each role. These calculations use cross departmental input to move past simple industry standards, and move towards a specific cost analysis that best supports each role's value. This enables companies to understand the real financial commitment involved in hiring and make informed decisions about compensation strategies.

Relying on information from just one department when making hiring cost assessments can be misleading and incomplete. Cross-departmental input is crucial because it provides a holistic view of the entire process and identifies hidden costs or challenges that a singular view might miss. These different viewpoints allow businesses to have a more accurate understanding of the impact a new role has on various parts of the company.

Leaders, like humans around horses, can greatly affect the culture and behavior of employees. An egotistical or unaware leader can create a toxic environment that leads to employee burnout, turnover, and overall dissatisfaction, just like a skittish human can make a horse anxious. Alternatively, a leader who is confident, empathetic, and self-aware can foster a positive work environment where employees feel safe, valued, and motivated. This emphasizes the need for leadership development and self-reflection.

Becoming a premium employer involves more than just accurate pay calculations. It requires a holistic approach that includes: building a positive company culture, implementing effective leadership development programs, investing in sales training, providing continuous opportunities for growth, creating clear and transparent communication channels, and fostering a culture of teamwork and mutual respect. By addressing both the tangible (compensation) and intangible (culture) aspects of employment, organizations can create a work environment that attracts and retains top talent.