Talent acquisition is never an easy task for small businesses and organizations, which is exactly why human resource staffing services provide such an essential and valuable feature. Outplacement consultants and restructuring consulting firms are probably some of the lesser-known services available to businesses today, but managing the acquisition and movement of workers is something that can get really tricky without professional help.
Don’t believe it? Take a quick look at some of the numbers below and you’ll see what we mean…
57% of organizations and businesses today find that employee retention is one of the biggest problems they face — and not only is it time-consuming to find and train new employees constantly, but it’s also pretty expensive.
After 45 days, it’s estimated that around 22% of employees leave the job they were just hired for. A lot of this is due to poor employee-employer matching; the temperament of the potential new hire has to fit with the overall attitude of the company, otherwise it’s a partnership that won’t last for long.
In terms of financial implications, high employee turnover rates can be enough to ruin a business. Depending on the size of the business and the positions that employees are leaving, employee turnover can cost as little as 30% for the employer — or it can cost a whopping 150%.
When it comes to talent acquisition, the fact remains that many businesses haven’t yet branched out in new directions to search for job candidates who possess less traditional skill sets. Although this may seem like a bigger investment up-front for the employer, the benefits of a diverse company will provide a better return on investment in the long run. In fact, recent studies have shown that gender-diverse companies tend to outperform their peers by 15%35%.
At small and medium businesses, the issue of talent acquisition is often an ongoing concern. Compared to large businesses and organizations, CEOs of small businesses are twice as likely to say that staffing is one of the company’s biggest problems.
These days, employees are much less likely to stay at a job simply for the stability. According to research from June 2015, 2.7 million Americans had left their jobs voluntarily in the first half of the year — and this is a 25% increase from the number just two years ago.
Finding and keeping the best employees may not be your first priority as a business owner, but it’s certainly one of the most important things influencing the overall success of your business!