Let’s talk employee hiring practices. Do you feel like your business is ahead of the curve? When employee turnover rates are threatening to suck your company down and you’re not sure how to go about practicing diverse hiring initiatives, it’s time to admit to a weak link in the chain and seek out executive search consultants. Rather than simply staffing your company for you they help you with the ins and outs of a smart hire, from recognizing a proper skills match to helping your company hold up against increasingly diverse competition.
What Causes Employee Turnover Rates?
Starting off the list with one of the most aggravating elements for employees and businesses alike, employee turnover rates are a result of employee dissatisfaction, poor hiring practices and more. Considering the time and effort it takes for an employee to find a similar job match as well as a business a similar employee skill set, it stands to reason these aren’t decisions to make lightly. So why treat your practices that way? Executive search consultants can walk you through this process and make it smoother than ever before by providing ideas and pinpointing flaws.
Why Is Diversity Important To Businesses?
An issue you might have heard cropping up here and there is that of a proper diversity hire. Focusing on providing a working base that accurately reflects multiple demographics, how diverse your company is from the ground up can be a major deciding factor in your success. McKinsey has been conducting ongoing research to assess the benefits of diversity and the results have been staggering. Not only are gender-diverse companies 15% more likely to outperform their less gender-diverse peers, ethnically-diverse companies are 35% more likely to do the same in the long-term.
Why Is Diversity Important To Customers?
Not only are smart hires good for your business model, they’re good for your customers. Nowadays consumers are more likely to spend their hard-earned time and money on businesses that accurately reflect their lifestyles. Similarly, hiring across the board allows you to understand the nuance that comes with addressing and providing for a varied client base. Little differences or interests that might have gone over your head otherwise can be discovered with the aid of new and fresh perspectives, putting you miles ahead of the competition.
How Can I Increase Employee Happiness?
Executive search consultants should help you with everything it takes to make an employee want to stay with your company. This includes providing engaging ideas that can see employees feeling properly appreciated, recognized and supported throughout the year. Studies have shown 85% of companies with employee recognition programs noticing a significant increase in worker happiness rates.
Why Should I Seek Out An HR Consultant?
No single method has all the answers. HR consultants can help you help yourself on your way to a more harmonious and successful business model. Hiring smart includes being transparent about the position’s expectations and finding solid matches, but also keeping an eye out for employees that represent a more diverse future. Poor skills matches and unclear objectives are some of the most common issues standing in the way of long-lasting hires, so make sure you focus on these objectives over the year with the aid of an outplacement company and see the difference it makes.
Anyone who runs or manages a business knows how problematic hiring can be. Employee retention is an issue for at least 57% of American companies. One problem stems from hiring the wrong people in the first place. As many as 22% of people will leave a new job within 45 days of being offered the position. The main reasons for this are poor work performance and problems with temperament. The U.S. Department of Labor has estimated that when the wrong person can cost an organization about 30% of that person’s earnings for the first year of employment. Because it is so important to find the right people to fill vacancies, many companies are turning to executive search consultants to help. The problem is sometimes finding the right executive search firm. Here are some tips to help you find the right human resources consultants.
- Take some time to get to know the different companies. You may want to get those positions filled as soon as possible but if you skip the step of getting to really know the executive search consultants, you will not have the best results and it may end up taking you a lot longer to find the right candidates. You also need to give them some time to get to know you and your needs so they can find the right people for you.
- Do your due diligence. When you are talking to different executive search consultants, you should understand that not all are created equal. Talk to other people in your industry and get a sense for what human resources consulting firms they have used and had success with. That can help you pick the right company for your needs.
- Make sure they understand how critical confidentiality is. When you are working with any executive search consultants keep whatever they see or hear while working with your company to hire new people stays with them. This is important for you and the candidates. Many job seekers do not want work to get out that they are looking for a new position. It is important that the executive search firm understand just how crucial this is.
- Make sure the firm you hire has a thorough interview process. The interview process is incredibly important to getting the right people for your organization. There are a number of executive search consultants who use sophisticated methods that focus on behavioral and psychometric evaluations to help weed out candidates who may not work out as well and to focus on those who will be great fits for the jobs that are open and the companies that are hiring. Make sure you are able to get all of the information you need about their process for interviewing candidates.
- Work with an executive search firm who understand the importance of relationship building. The process of interviewing with any company for any position should not be a painful one. You want all of the candidates that you talk with to walk away from the experience with good feeling about you and the search firm. While one person may not work out for an opening you have today, they may be perfect for another job that opens up at a later date. By keeping them happy with their experience, you can have access to a bigger pool of talent. When you work with executive search consultants who treat people with respect, you know they can attract better candidates.
- Make sure they get back to you in a responsible way. If you have questions, you need to be able to have them answered in a timely manner. The answers they give also need to be clean and concise. If you do not feel that you are getting answers that address your concerns, you should go with a different company. If you find that you are not getting your questions answered before you become a client, you can bet you will have trouble getting them once you have hired the firm. If you have follow up questions, you should feel comfortable asking them.
The hiring process can be a really painful one. When you work with executive search consultants, you can make it go better for everyone involved.
Why do companies decide to outsource talent acquisition and management to specialist HR consulting firms? From startups and Fortune 100s, the advantages of having an HR executive search firm helping with recruitment and retention are obvious. It takes a major burden off the in-house human resources staff, allowing the specialists in the area of talent acquisition management to handle crucial areas of hiring and onboarding. HR executive search firms also offer career coaching and professional career development advice to new hires, making it easier for them to settle into their new jobs.
Hiring and retention are major concerns
Recruitment is one of the most significant concerns for a business, of whatever size. A successful search is a retained search, where the new hire stays with the company. Human resources staffing and retention are ongoing concerns for most companies. Fully 57% of organizations report that employee retention is a major problem.
Most failed hires are due to performance issues, which have their roots in hiring issues such as a poor skills match and lack of clarity about performance objectives at the outset. Even for employees who may not actively be looking for jobs, Jobvite reports that more than half or 53% are open to considering new job prospects.
And more and more people are voluntarily leaving their jobs: by the end of June 2015, this number was 2.7 million workers. This figure represents a 25% increase as compared to the number of people who left their jobs voluntarily two years ago.
Training and career support can improve employee retention
A successful search is one that helps new employees settle into their new positions. To begin with, finding the right person for the job is not a simple matter. Most new hires leave because of a mismatch – whether of work expectations, personality or qualifications. HR executive recruiters have the necessary experience to match temperament and qualifications to the position offered.
They also offer onboarding services and professional development and career coaching to new hires, helping them to succeed in their new workplace.
Companies invest a lot of time and effort in their searches, but often fail to support the new hire through their early days on the job. Researchers have found that new employees who receive onboarding training are 58% more likely to remain with the company for three years or longer. HR executive search firms offer support to new hires at every stage of their careers, helping them to succeed.
Helping employees and businesses succeed
An organization can only be successful if its employees are both happy and productive. Support and training services can go a long way in creating a positive work environment conducive to individual and organizational success.
HR executive search firms offer numerous services based on their experience, including:
- HR executive search
- Strategic HR consulting
- Placing interim Heads of HR or functional heads of departments
- Talent acquisition
- Learning and development
- Business partner
- Organizational development
- Compensation and benefits
- Diversity and inclusion
- Corporate outplacement and career coaching
HR executive search firms have the experience and networks to help companies with recruiting and staffing issues.