Which costs associated with external hiring are substantially avoided when a company chooses to reskill internally?
Answer
Recruitment fees, background checks, and relocation packages
Reskilling helps companies avoid the substantial combined costs associated with bringing in external hires, such as recruitment fees, relocation packages, and background checks.
Related Questions
What is the primary focus of reskilling according to the provided text?What strategic purpose does upskilling primarily serve, distinct from reskilling?How might an internal reskilling program's time-to-competency compare to hiring an external expert for adjacent roles?How does prioritizing internal mobility through reskilling generally affect employee retention rates?Which costs associated with external hiring are substantially avoided when a company chooses to reskill internally?What time horizon should organizations use when assessing future needs to define required reskilling roles?Which learning component is noted as being insufficient on its own when training employees for substantially new areas?Why is recognizing and naming transferable skills crucial for a successful reskilling process?How should managers frame a reskilling opportunity to employees to foster motivation rather than defensiveness?What is the ultimate consequence for organizations that fail to invest in continuous workforce adaptation through reskilling?