We all want to get ahead in our business, as we should. People now are moving from position to position, company to company more often than ever. Company loyalty is now more than ever a thing of the past — it’s rare to find younger individuals who have been at one company for over five or eight years. On one hand, it’s understandable — you want to go where the better paying positions and higher ranking jobs are. On the other hand, it can be extremely frustrating for companies who want to cultivate a long standing relationship with their employees and have them rise within the company. Too much turnover can also be quite costly — according to the U.S. Department of Labor, the average cost can be about 30% of the first year’s potential earnings of hiring that person. Ouch! So how do you minimize the risk of hiring a high ranking employee who doesn’t fit the company and keep your current employees with your company? HR executive recruiters are one answer to that problem!
What Do HR Executive Recruiters Do?
HR executive recruiters can help you find and hire the leading talent in your applicant pool. Even better, they can also develop methods to keep them with your company! They’ll conduct the necessary research to find the most qualified applicants whose goals, skills, and performance are all in line with what you and your business need. They evaluate, conduct background and reference checks, and will follow up with you and the candidate as they transition from one job to the next. HR executive recruiters may also be able to negotiate better or more agreeable terms for you as well. They’re one of the best in terms of talent acquisition for high ranking positions.
Should I Really Be That Worried? Is There That Much Turnover With Jobs?
Considering that half of employed workers are open to looking at new job prospects (according to Jobvite), turnover is certainly always a possibility, particularly if the employee feels undervalued, underpaid, or like there’s no chance for growth within the company. Additionally, over 55% of businesses cite keeping employees with their company as a challenge they currently face. Almost a quarter of employees leave a company after only 45 days. That can be partly attributed to a bad match of skills or performance level, but definitely not all. A recent survey showed that at the end of June 2015, just shy of 3 million workers voluntarily left their current jobs to find other opportunities. That’s up by 25% from only two years ago — not a good sign at all! You may even have experienced this kind of turnover yourself within your business and know how expensive and time consuming it can be. Working with recruiters or even HR executive search firms can help stop this kind of turnover.
How Can I Keep People Happy In My Business?
Employees want to be able to advance, even if they’re already in a somewhat higher position already. Making sure there are growth opportunities for those people who deserve it is a great way to keep employees interested and engaged within your company. Having employee recognition programs is also a great way to keep your employees loyal — 85% of companies who have implemented this kind of program reported that worker happiness definitely went up. A structured on-boarding program is also a great way to retain new hires. They feel more secure in the company and also know what is expected of them, what company protocol is, and other important stabilizing guidelines. Another great way to keep your employees happy is by offering good benefits. Even if the pay is a little less than what other competing businesses might be offering, good benefits may be able to tip the scales in your favor.
If you use executive HR recruiters or an executive placement agency, you’ll be able to weed out the candidates who are not well suited to your business faster and hopefully be able to retain employees and new hires who are adding value and energy to your company.
