Job retention is a real problem here in the United States, with up to 60% of all Millennials actually stating that they would be willing to leave their current jobs for the promise of a better one, should the opportunity present itself. In addition to this, very nearly three million people had left their jobs (on a voluntary basis) by the June of 2015 alone. This marked a considerable increase in such activity from years prior. Ultimately, it shows that job retention is a very serious problem being faced all throughout the workforce in the United States.
The issues that are causing job retention problems are a great many. For one thing, most workers and employees found throughout this country simply do not feel nearly as supported as they could be when it comes to their jobs. Only around 20%, a mere one fifth, as a matter of fact, actually feel that their superiors are encouraging them to do their best possible work. Unfortunately, this leaves far too big a slice of the population feeling largely unmotivated to do their work in a meaningful, well thought out way. Unfortunately, apathy has become all too commonplace in the typical workspace.
But just as there are problems we face regarding employee retention rates, there are a number of viable solutions to consider as well. For one thing, it is growing more and more common for companies and places of work to bring in some kind of employee recognition program. Employee recognition programs can vary dramatically from place of work to place of work, but all employee recognition programs (when well run, of course) have the potential to lead to considerable change. As a matter of fact, more than 85% (around 86%, to be just a bit more specific) of all companies have stated that once they instituted an employee recognition program and allowed it to work for awhile, rates of overall employee happiness rose considerably. And when employees are happy, they are less likely to look for other work, therefore improving overall employee retention rates. You might also see rates of productivity and high quality work improve as well. This goes to show that even relatively small changes can make a world of difference in changing the workplace environment.
Hiring executive HR search firms to better the hiring process is also important. Unfortunately, poor skills match lead to many failed hired in all kinds of fields and workplace environments. In fact, this is something that very nearly 40% of all top executives have noted as a top problem being faced when it comes to poor rates of employee retention throughout the United States. Fortunately, working with executive HR search firms can help to rectify this problem, as executive HR search firms can serve in a crucial role when it comes to supporting and rectifying a hiring process that has not been functioning as it should be. As a matter of fact, executive HR search firms might work to restructure a hiring process entirely.
In addition to executive HR search firms, other human resources recruiters and outplacement consulting companies can also play an important role in ensuring that employee retention rates improve. After all, having a good hiring process in place – and a good screening protocol for would-be employees – can change things immensely in terms of overall hiring outcome. Therefore, executive HR search firms and the like are typically more than worth the cost of hiring them.
And still there are other ways that we can support higher rates of employee retention. For one thing, simply having a better on boarding process will end up being truly just as important as having a good hiring process. At the end of the day, there are many factors that make up a good hiring process, but thinking them out well and thoroughly can have a profoundly positive impact – and cause employees to stick around for even longer.
At the end of the day, the problem of employee retention is a serious one. However serious it might be, we have the tools with which to deal with it well and thoroughly.