The success of any business depends on the staff, which is why it’s so important to find the right person for the job. Recruitment and talent acquisition are only the beginning of the process. Executive hr search firms know that onboarding and orientation, leadership coaching and employee appreciation are all steps that help new employees to identify with the business and its goals. If it should be necessary, an outplacement company can also help employees who are leaving, for whatever reason. This also helps to maintain a reputation as a good employer.
Finding the right people for the job
Human resources consultations can help to put together a package to introduce new employees to your business. A talent acquisition management and outplacement company will advise you on best practices regarding hr executive search, diversity and inclusion, managing millennials and leadership and development.
Retained search is about creating people and talent policies that will help businesses connect the right people to the positions that need to be filled. Research shows that employee retention is a problem for 57% of organizations. More than one fifth or 22% of new hires actually leave before an month and half at their new jobs.
Reasons for high employee turnover
There are a number of reasons for high employee turnover. Poor performance, temperamental issues, and lack of clarity regarding expectations all play a part. A major factor that employers should be aware of is that even new employees are constantly on the look out for better opportunities.
A survey carried out by Jobvite found that more than half, or as many as 53%, of workers who are already employed are still open to new prospects. They might not be looking actively for a new job but if one comes along, they will not hesitate to jump ship.
Staffing issues and solutions for employers
The costs of high employee turnover for employers include having to pay to hire and train a replacement, and lost productivity due to lack of continuity. Employers are aware of these problems and a survey of CEOs of small and midsize businesses by Vistage found that for 35% of them, staffing was the most significant business issue they faced. It was cited as a problem twice as often as other issues.
What are some steps that employers can take to improve employee retention and loyalty?
Some of the leading causes of high employee turnover are poor performance and a lack of clearly defined work expectations. Onboarding programs can help to address these problems. Researchers have found that if new hires go through a structured on-boarding program, they are 58% more likely to remain with the same employer for three years or more.
- Leadership coaching and career development
A human resources consulting and outplacement company can help businesses put together programs that will guide and support employees from hiring through leadership development and career coaching.
- Diversity and inclusion
McKinsey?s research shows that workers not only consider companies with a diverse workforce a better place to work, but they are also more productive in such a setting. Researchers found that a gender-diverse workforce makes companies 15% more likely to perform better than their peers. Ethnically-diverse companies do even better, and are 35% more likely to do better than their peers.
- Employee recognition
Researchers find that companies that institute employee recognition and appreciation programs see an increase in productivity.
From retained search to career coaching, a talent acquisition and outplacement company can advise businesses on human resources policies that will help them to create a stable and productive workforce.