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Thursday 20 February 2020
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Taking A Look At The Importance Of Job Retention Rates And What We Can Do To Fix Them

All throughout the United States, issues with job retention need to be taken seriously. After all, more than two and a half million people willingly left their jobs in the June of 2015 alone, a number that marked a nearly one quarter jump from just a couple of years prior. And up to 60% of all working members of the Millennial generation would even leave their current job if they were offered something better elsewhere. Ultimately, this has earned them the title of the job hopping generation – though there are many valid reasons that many Millennials have made and are making such choices.

For one thing, as HR executive search consultants can all too easily attest to, it is far too common for the wrong person to be hired for the job. As a matter of fact, it has been found that more than 35% of all surveyed top executives feel that poor skills matches to the jobs they are hiring for drive up the problem we are facing with employee retention rates, a problem that is followed only by having unclear performance objectives (in the eyes of these executives). But through the help of HR executive search consultants, this problem is often one that can be mitigated.

HR executive search consultants can help to find the right candidate for the job. But though HR executive search consultants serve a hugely important role, it must also be noted that HR executive search consultants are typically only going to work at sourcing employees for the highest level of hiring. Fortunately, there are similar services to the ones that are provided by HR executive search consultants. For one thing, the typical job placement agency or outplacement consulting company is likely to function much in the same way as HR executive search consultants. And through the use of HR executive search consultants and outplacement consulting firms alike, it is more likely than not that we can ensure more successful hires as well as boost overall rates of employee retention, something that is not to be underestimated in its overall importance.

Assessing the diversity of these hires is also very important. While diversity in the workplace and how we ensure it can sometimes be a contentious topic for many people, there is just no denying that having diversity in the workplace (and diversity of all kinds, for that matter) is a hugely beneficial thing – beneficial for everyone who works at any given place of business, as a matter of fact. In fact, gender diversity can increase the overall performance of a place of work by as much as a full 15%. And ethnic diversity is even more impactful, increasing overall work performance by as much as a full 35% – which is, there is no doubt, a number that is not to be underestimated.

Of course, changes in the culture of a place of work can also benefit a company, just as much as increased diversity or the aid of HR executive search consultants. For instance, it is commonplace for companies to see a great deal of success in beginning employee recognition programs. As a matter of fact, as many as 86% of all businesses and organizations who brought in employee recognition programs have seen a noticeable uptick in overall levels of employee happiness. And when employee happiness increases, it is likely that overall employee work quality will also increase. So too, we can assume, will levels of overall employee productivity. Fortunately, such changes will also lead to a growth seen in the retention of these employees at the companies in question for longer periods of time.

At the end of the day, there are many things to consider when it comes to improving the working world – in fact, this article just touches on a mere few and is certainly far from all encompassing. The issue of job retention is hugely concerning. Fortunately, there are many steps that can be taken to combat this issue, steps that can help to encourage employees of all kinds to stay in their current roles for a considerable period of time.




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