Nobody knows it all. Even after years of hard experience and plenty of research? You can still have gaps in your knowledge. Just ask all the businesses today struggling to keep up with a shifting economy and the highest rate of employee turnover the nation has ever seen. Executive search firms are the in-between for businesses and employees, making it easier for people to find what they’re looking for in a sea of information and noise. Instead of specifically finding new employees to round out your ranks they offer you all the resources you could need to give your hiring process a much-needed overhaul. Still not sure how it works?
There’s no shame in looking up a refresher. Let’s see what an HR executive placement agency can offer you in the new year.
Did you know over two and a half million workers voluntarily left their jobs in the middle of 2015? Employee turnover is in a pretty bad spot for both sides of the fence, leaving many stranded and even more frustrated with what the future holds. Executive search firms have been sought out more than ever for their unique bundle of basic resources and up-to-date knowledge on today’s economy, helping businesses of all sizes get a handle on what seemed so simple just a few decades ago.
A recent Gallup poll dubbed Millennials as the ‘Job Hopping Generation’, with an astonishing six out of 10 open to a new job at any given point in time. This is more so than any other generation that’s came before, meaning you can’t afford to coast on old ideas of hiring if you want to keep a solid worker base. Positions that offer steady hours, positive oversight and room for growth are all shown to entice workers to stay around in the long-term than those that are aloof, spotty or disinterested in what employees have to offer on the whole.
What are some of the biggest reasons employees jump ship and search for smoother waters? Another Gallup poll revealed a mere two out of 10 workers feel their manager is doing a good job of encouraging them to do their best work. Detached, unfriendly and stressful managers create a domino effect of unhappy workers and employment gaps in desperate need of filling, so any HR executive recruitment worth their salt will make sure you clear this up as soon as possible. Studies have shown over 85% of companies with employee recognition programs cite a noticeable spike in worker happiness mere months after being put in place.
If it were as simple as just one hair out of place this would be an easy issue to solve, but this is most certainly not the case. A survey provided by Robert Half showed a significant one-third out of the over 1,400 executives surveyed feeling the top reasons for a bad hire is a poor skills match — this means thinking the employee will bring one thing to the table, only to show something else entirely when it’s time to get to work. The second most common? Unclear performance objectives! Honesty is the best policy and executive search firms can make sure you put your best foot forward.
To round up this list, try reaching out to diversity advocates and seeing how you can’t shake up your hiring model. McKinsey’s research has shown impressive statistics when it comes to hiring with unique perspectives in mind — gender-diverse companies have been found to be 15% more likely to outperform their peers, while ethnically-diverse companies are as much as 35% more likely. How does this translate to business? This means more cooperative attitudes, a better reflection for customers to appreciate and a steady return rate on monthly figures.
The field is changing. It only makes sense to change with it instead of fighting the current. Let executive search firms make sure you’re going in the right direction.