Struggling With Employee Retention? Look Into Setting Up A Talent Acquisition Management Service

Written by Economic Development Jobs on February 27, 2016. Posted in Executive hr search firms, Talent acquisition management

Outplacement consultant

What methods have you been taking to improve your business from the ground up? Some brands choose to bolster their human resource staffing in order to better connect with their customer base, while others choose to narrow down their efforts toward a stronger marketing campaign throughout the year. Whether you’re trying to expand or are just starting out, an outplacement service is ideal for you to better distribute your employees’ talents while keeping your results effective and reliable. Using HR executive recruiters to create the ideal middleman can be a difficult step to take, however, so we’re going to look at the benefits of an outplacement service in your business of choice and how it can help you and your employees all days of the year.

Did You Know?

The U.S. Department of Labor estimates that the average cost of a bad hiring decision can add up to a whopping 30% of the first year’s potential earnings. Never let it be said that first impressions don’t go a long way! The costs of employee turnover can range anywhere from 30% to 150% of the employee’s general salary, with the year 2015 seeing over two million workers voluntarily leaving their jobs. Ethnic and gender-related diversity in staff, as well, has been shown to garner higher performance rates over long periods of time compared to more homogeneous teams. Employee retention is a vital component for a business to run smoothly and efficiently, with many businesses turning to a talent acquisition management service to help them make more long-lasting decisions with new and less experienced workers.

What Are Common Hurdles For Businesses?

Constructing a successful business involves the interlocking skills of many different employees, managers and designers working in cohesion. Organization is often a number one priority for businesses at large and investing in a talent acquisition or outplacement consultant can help ease the pressure on multiple parties. Over half of all organizations view employee retention as a major issue, with a quarter of all new hires leaving their jobs within 45 days of being hired. These reason include, but are not limited to, poor performance, temperament issues or dissatisfaction. Outplacement services, as well as a human resource management team, are useful tools for pinpointing these common issues well before they start.

How Can I Encourage Employee Satisfaction?

While everyone has their unique goals and interests, there are a few commonalities that link people together when it comes to satisfaction with their job. According to a recent survey by Jobvite, half of all employed workers are still open to new job prospects even if they’re not actively looking. On the other hand, over 80% of companies with employee recognition programs noted a significant increase in worker happiness and transparency. Other factors, such as a dedicated healthcare service as well as consistent hours, factor into job satisfaction and should be taken into consideration when crafting or expanding your business.

What Is An Outplacement Service?

So, we’ve looked at some of the hurdles facing many businesses as well as what employees generally look for. What can an outplacement service do for encouraging employee retention and satisfaction rates? A recent survey by Robert Half showed, out of over 1,400 executives surveyed, that the top factor leading to failed hires were not just performance issues but a poor matching of skills on the outset. Another frequent issue were unclear performance objectives, further cementing the necessity of human resource consultants. Knowing where and how to direct new employees go a long way in creating higher satisfaction rates as well as cultivating less hiring efforts down the road. Consider looking into establishing an HR department in your business today and watch everybody benefit all days of the year.

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