Employee Turnover, Diversity And Retention Rates The Keys To Successful Business
What do you consider the most important aspect of a successful business? While some would cite clever marketing tactics or intelligent budgeting as the foundation that helps a brand succeed, the truth of the matter is that no business, big or small, would get very far without a devoted and happy workforce. Human resources executive recruiters know this and, as such, work night and day to provide firms and recruiters with the tactics they need to cultivate the best leadership guidance possible — everything from employee retention to diversity measurements are par for the course when using all a human resource firm has to offer, to better ensure you put your best foot forward in a competitive marketplace. Wondering why your business is having trouble keeping employees for more than a few weeks? Want to know what options are at your fingertips? Look below!
Let’s start off with what’s considered one of the most widely frustrating problem for businesses and corporations alike — employee retention rates. Surveys have shown over 60% of organizations view employee retention as an issue, with 20% of new hires leaving their jobs within 45 days of being accepted into the workforce. There are many different reasons for these patterns, but some of the most common include poor performance, temperament issues and schedule conflicts. According to a Jobvite survey, around 53% of employed workers are open to new job prospects even if they aren’t currently working.
Expanding one’s workforce to properly reflect changing demographics is an increasingly important issue in modern times. As such, human resources executive recruiters are dedicated to providing diverse outplacement services to companies across the country. McKinsey’s research, in particular, has shown that gender-diverse companies are 15% more likely to outperform their less diverse peers, with ethnically-diverse companies a stunning 35% more likely to do the same. Not only is it important to portray the same diversity behind-the-scenes alongside advertisement campaigns, diverse teams bring a wealth of different perspectives and skillsets to the table compared to their more uniform counterparts.
It’s important for an employee to feel emotionally and economically supported by their job. A study has shown over 85% of companies who put forth consistent effort in employee recognition programs, for example, have cited a significant increase in worker happiness. Unhappy employees are more likely to leave their jobs earlier than those who are satisfied, while showing a higher rate of illness and concentration issues than their peers. Benefits packages and performance programs are just a few elements that have been proven to increase job satisfaction.
Last, but not least, we have staffing. Over 30% of CEOs of both small and midsize businesses, thanks to a survey by Vistage, have noted staffing as the most significant business issue they are currently facing — this has added up to twice as common as even the most demanding issue. The year 2015 saw two and a half million workers voluntarily leaving their jobs, a notable 25% increase compared to just two years prior. With all these factors in place, in outplacement consultant service may be the key to what ails you.
If you want to encourage employee retention and higher job satisfaction rates, you’ll want to contact human resources executive recruiters as soon as possible. They specialize in analyzing industry trends and helping you tackle frustrating issues that have long-term impacts on your business model, such as employee turnover and staffing issues. With increasing industry initiatives to provide more awareness toward diversity, there’s little you can’t stand to benefit from by using all the resources at your disposal. When the cost of employee turnover rates can cost as much as 150% of an employer’s salary, it’s imperative to nip that in the bud! Next time you plan on shaking up your budget, consider seeking out human resources executive recruiters — you, and everyone else, won’t be disappointed.