High Employee Retention Rates Costing You A Lot? Consider These Strategies
A recent survey by Robert Half showed that one third (36%) of 1,400 executives surveyed felt the top factor leading to a failed hire, aside from performance issues, is a poor skills match. The second most common reasons (30%) was unclear performance objectives. How they these factors be prevented and corrected to improve quality hiring?s? The following hiring practices can be effective in reducing failed hiring?s and improving the executive talent.
Have a strong Hr consultant
The HR consultant is your professional when it comes to recruiting, hiring, and training. They often come with a strong background of the best hiring and retaining practices. Without a strong HR consulting professional, it is likely that you will continue to have failed hires. If onboarding an entire HR consulting team is not realistic for your business, it can be helpful to hire executive search consultant services. This is an executive placement agency that can assist businesses with either their hiring needs, or with hiring of the best HR consultants.
Implement a strong onboarding process
The hiring process is often fairly quick and not very thorough. This does not give you much opportunity to really get to know your candidates. According to a 2016 Gallup poll, Millennials are the job hopping generation, with 6 in 10 open to a new job at any given time, more than any other generation. Rushing through the onboarding process can end up wasting important resources and training on employees that shortly leave the business. Implementing a strong onboarding process extends the hiring and training practices and increases the chances of employee retention. A professional job placement agency can be extremely beneficial in creating a strong onboarding process that works for your company and its needs.
Recognize current employees
Recognition of current employees is one of the most effective ways to keep employee retention rates down. When workers are happy, they stay with the company. When workers are unhappy, they are constantly looking for new employment. Approximately 86% of companies with employee recognition programs cite an increase in worker happiness. Once you have a team of executive level employees that you want to keep, work hard to retain them. You can do this with recognition programs, employee benefits, and additional training programs. For assistance in implementing these types of recognition programs, consider using a professional job placement agency.
Expand your job search efforts
Sometimes, it is important to expand your job search efforts to truly attract the best executive candidates. Sticking to one hiring platform will limit your options. You will also find that many executive level employees are not on the job sites that you are frequenting. This means that the applications you receive are going to be inexperienced and unqualified, also leading to higher job transfer rates. Using a professional job placement agency can help to expand your candidate pool. The career placement agency submits job listing to a variety of job sites and also has access to the best recruitment practices.
Always continue training
A lot of business organizations provide training at the time of on boarding and that is it. To continually improve upon an employee?s skills, they must receive regular training. Additionally, providing employees with additional training is seen as a benefit and can also increase employee happiness. Not enough businesses offer extended training to their employees. Work with a professional job placement agency to implement a continued training program within your business.
A lot of business organizations have trouble with high retention rates. We are currently in a career time that people constantly have one foot out the door, always looking for a better opportunity. You can reduce your high employee retention rates by providing employee incentives, implementing employee recognition programs, and continuing training of all current employees. Additionally, utilize the professional services of executive placement agencies to on board the highest quality of employees from the beginning.
Trackback from your site.