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Executive
Gerald Graham, Dean of the W. Barton School of Business at Wichita State University stated: "What are the three most important factors for success in management? I suggest the answer is selection, selection, and selection!"
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Sales
"A Fortune 500 company said it costs $255,000.00 to find, interview, hire, train and have little or no results from a sales representative. These costs include lost business or production, figures most companies and organizations fail to include in any of their job turnover cost estimates." Bill Schult - President Believe and Succeed Inc.
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General
A Business Week magazine article on budgets once revealed that many companies spend on average 85% of their budgets on training and development and 15% on selection. Whereas a Columbia University study on turnover revealed that 76% of failure is due to poor selection and only 24% of failure is due to poor development. In essence, companies are spending large portions of their budgets on training the "wrong" people!
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