What’s the lifeblood of a strong business? If you cited the happiness and satisfaction of your client base, you’re on the right track. While a savvy marketing campaign is useful for grabbing customer attention and smart budgeting goes a long way in supporting your business during hard times, it all boils down to how your workers function in the day-to-day. Employee turnover, general retention rates and hiring consultation are all major issues that impact businesses of all sizes. If you’re not familiar with the ins and outs of outplacement companies and how they regularly combat frustrating employee turnover rates, take a look below to learn about the next tool in your arsenal.
Match Skills Accurately The First Time Around
One of the most frustrating issues facing businesses is a lack of proper communication across hiring lines. A recent survey conducted by Robert Half showed at least one-third of the over 1,400 executives surveyed felt the leading factor to a failed hire (outside of general performance issues) was a poor skills match. The second most common reason at 30% were unclear performance objectives. Executive search consultant services can help your business more accurately identify the strengths and weaknesses in each potential employee, saving you both time and money in the long run.
Create A Diverse And Flexible Work Environment
An important issue for many businesses today is that of a diverse work environment. Ongoing research by McKinsey’s has found that gender-diverse companies are at least 15% more likely to outperform their peers, with ethnically-diverse companies being 35% more likely to rake in superior results. Diversity involves hiring employees across a broad spectrum of demographics, including gender, race, ethnicity, religion, physical ability and nationality. Executive search consultant services have been placing great emphasis on diverse hiring practices and can ensure your company accurately reflects its client base up and down the ladder.
Reduce Employee Turnover Rates
Employee turnover is a term used to describe the rates at which employees leave their job of choice, for reasons ranging from dissatisfaction to a lack of compatibility with the company’s standards and goals. Nearly three million workers voluntarily left their jobs by the end of June of 2015, a notable 25% increase compared to just two years prior. Seeking out, interviewing, training and monitoring employees costs a business significant money compared to retaining the same employee over a lengthy period of time.
Bolster Employee Happiness And Satisfaction
What matters most at the end of the day is creating a working environment that makes employees want to stay for the long-term. Over 80% of companies with employee recognition programs, for starters, have cited a notable increase in worker happiness than those who don’t have such programs in place. Leadership development elements are also noted to help employees move up the ladder and develop their skills in an organic way. When it comes down to it, using the resources available to you is the most essential first step.
Using Human Resources Consultants
The goal of executive search consultant services is to put the power of obtaining strong results back into your own hands. They’ll help you narrow down potential employees more accurately than ever before, putting a notable dent in employee turnover rates and creating better employee retention. Your business will see a happier worker base, lower overall spending and a much stronger presentation in a competitive market than if you’d attempted to do all the work on your own. Consider contacting an HR consultant and see how you can buff out the dents in your business’ weekly progress today.