Millions of workers voluntarily leave their jobs every year for a variety of reasons. At the end of June, 2015, for example, this was the case with 2.7 million individuals, many of whom were employed at the executive level. Millennials in particular are open to new job opportunities, which is why this age group has been referred to as the “Job Hopping Generation.” A 2016 Gallup poll found that six out of every ten Millennials are always ready to make a career move. This is more than any other generation to date.
Several Factors That Contribute to Failed Hires
Robert Half conducted a recent survey with 1,400 executives regarding the issue of failed hires. According to these executives, there were two factors besides performance issues that contributed to this situation.
While 36% of the executives believed that a poor skills match was the primary contributing factor, 30% believed that unclear performance objectives was secondary.
Whether failed hires occur with Millennial-aged group or older staff, they may also be prepared to leave a position due to a lack of leadership or encouragement. A Gallup poll showed that just two out of every ten workers believed that their manager did their best to encourage them. More specifically, these individuals weren’t receiving encouragement from their managers to perform well or provide their best work.
The Benefits of Employee Recognition Programs
When companies have employee recognition programs, they may have a greater chance to retain their staff. A survey showed that 86% of the companies with these programs in place noticed that their workers were happier. Unless there are other issues that arise at a place of employment, happy workers tend to be more productive and better team players than their counterparts.
The Benefits of Gender and Ethnically-Diverse Work Environments
Another issue that can contribute to employee happiness and productivity pertains to working in a gender and/or ethnically-diverse environment. According to McKinsey’s research, these employees are also more likely to outperform their colleagues at non-diverse companies. Gender-diverse companies, for example, are 15% more likely to do so. Ethnically-diverse companies are 35% more likely to outperform their colleagues.
If a company is both gender and ethnically-diverse, there’s an excellent chance that this percentage would increase even further.
The Benefits of Working With a Professional Job Placement Agency
If you’re just launching a new business venture, there’s a good chance you would benefit from executive coaching, leadership development and other resources such as on-boarding consulting, talent acquisition, and talent retention. In the event that your business is restructuring or rebranding, you may also benefit from the additional services that can be provided by a professional job placement agency. Along with human resource consulting, a professional job placement agency can provide your business with a variety of other valuable resources.