Our society is one that tends to promote advancement at a rapid fire rate. It can be great for individuals who strive for success and are competitive, but unfortunately for businesses and business owners, it can also mean that they often lose their most talented workers to other more competitive businesses. So how do you go about effective talent acquisition and keeping them with your company? It can be exhausting to do yet another HR executive search time after time and expensive too. Hiring the services of HR executive search firms is a great way to help save you time, money, and energy on looking for talent to fill your higher ranking positions. HR executive search firms may also be able to give you tips and a system for keeping your employees at your firm, instead of moving onto another.
How Many People Are on the Move and Why?
Alarmingly enough, almost 60% of companies say that keeping employees is a problem. With small and medium sized businesses, 35% of their CEOs said that staffing was the toughest issue they faced — mentioned twice as much as any other issue, according to a Vistage survey. And with over 20% of new employees leaving after only being at a company for a month and a half,it’s a serious worry for companies who are investing the time and energy for training, benefits enrollment, and more. While sometimes new hires leave because they were a poor skills match or didn’t perform adequately, some hires leave because there were unclear performance objectives involved, or they found a better opportunity. Robert Half did a recent survey that showed that one third of around 1,400 executives who participated cited the poor skills match as the leading reason to employees leaving and unclear objectives as the second highest reason.
All in all, by the end of June 2015, almost 3 million workers left their jobs of their own accord. This number is up by 25% if you review the numbers from just two years ago! Even if people aren’t actively looking for a new job, Jobvite conducted a survey that showed over 50% of workers who are already currently employed are open to looking or considering new jobs.
How Can I Keep My Employees Happy and With Me?
There will always be some turnover with employees, especially with higher positions. However, there are some ways to up your employee retention rate. Employee recognition programs can be one great way — over 85% of companies with such programs said that worker happiness increased. Excellent employee benefits are another great way to keep people at your company. HR executive search firms may be able to offer tips about a structured on-boarding program — it’s been shown to keep new hires with the company by about 60% after three years. Even increasing your gender or ethnic diversity within the company might help. It will make your company more competitive and welcoming to diverse talent — plus, McKinsey’s research proves that gender-diverse companies have a 15% better chance of outperforming non-gender diverse companies and ethic diverse companies have a 35% better chance.
How do HR Executive Search Firms Play A Role?
HR executive search firms, human resources consultants, and talent acquisition management services can all help you restructure the way you go about hiring and firing. They may be able to offer solutions that will make your company more attractive to potential applicants and keep your current employees loyal to your company. Additionally, they can help you sort through all the talent that’s out there to help you find the best pool of applicants possible. By outsourcing an executive search to a third party company, you may be able to access channels you didn’t know existed or didn’t have contacts in, and you’ll be able to let your human resources department focus on more internal affairs.
Do yourself a favor and consider hiring an executive search firm to help with your upper level hiring today. You’ll probably save time, money, and effort and will certainly be pleased with the end result!
