Can More Diverse Hiring Practices Reduce The Rate Of Employee Turnover?

Written by Economic Development Jobs on September 10, 2017. Posted in Employment agencies dallas, Staffing company, Temp service

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Hiring an employee is only half the battle. Keeping the employee around in the long-term is a mutually beneficial arrangement for your hire and your brand alike. After all, going through the trouble of constantly searching for workers and training them is a drain on both your resources and your patience. But how, exactly, do you accomplish that? While there’s no one-size-fits-all answer, there are resources you can use to make this process much less painful for both parties. A temp agency can help give you the tools necessary to make sure you’re hiring the right people for the right job at the right time.

First things first. Don’t view a staffing agency as the be-all, end-all solution to your troubles. It is, at its very best, a way to help get you back on your feet after a stint of less-than-stellar hiring results. Employee turnover, employee retention and diversity are the most pertinent concerns shared by small and large businesses alike. A temp agency can make sure you keep all of this in mind despite your already very busy schedule.

When $11 billion is lost every year to employee turnover alone, you can see why more and more businesses are turning to a temp agency. Keeping a business running is difficult enough without adding yet more hiring measures into the mix. A recent study saw nearly 60% of organizations saying they view employee retention as a major problem. Another 45% of human resource professionals, specifically, said retention is their greatest concern. What does this mean for you and your future success?

Keeping an employee around in the long-term is simply the smarter option. This means not only do you have to search and hire less, your worker will have further experience and familiarity with their position. This saves you time and money, both of which are the foundation on which a successful business stands. Over 20% of all new hires will leave their jobs within a mere 45 days of being hired. A temp agency can help you make sure you find the best people from day one.

How do you make sure the people you hire are well-suited to the job? Over 90% of recruiters will look at a candidates social media profile to determine their eligibility, for starters. Others will make sure the hiring process itself is up-to-date and able to hone in on the most qualified applicants. This means cementing clear performance objectives and keeping basic information easy to access to avoid confusion later down the road. Studies have shown new hires that undergo a structured on-boarding program are 60% more likely to stay with the company for three years or more.

Diversity is another factor you can request when seeking out staffing agencies. McKinsey’s research has shown nothing but positives associated with seeking out a more diverse hiring pool. Gender-diverse companies have been found to be 15% more likely to outperform their peers, with ethnically-diverse companies being 35% more likely. Diversity also extends to religious groups, physical ability, sexuality, gender identity and economic background. With more unique perspectives at the table, your business can only stand to reap the benefits.

A temp agency is your ideal middleman. They help employees find the job they’ve been searching for and help businesses reduce the frustrating impact of employee turnover. They can even encourage more diversity in your hiring practices and save you money in the long-term. Instead of waiting and hoping for the right worker to fall in your lap, let an employment agency give you a few pointers. It may just be the best investment you and your employees have ever made.

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