Employee Retention Is The Key To Business Success: How An Employment Agency Can Help

In Staffing Solutions by adminburnetts

employment agencyThe face of employment is changing…both literally and figuratively.

More workers than ever are jumping ship for greener pastures, leaving businesses scrambling to pick up the slack. More businesses are failing to change their hiring process and having workers jump through unnecessary hoops for a position that doesn’t even match their skillset. It might just be time to look into an employment agency so everyone can finally start seeing eye-to-eye. Opportunities for employment are always out there…but it’s casting a smart net over a wide net that will make sure everyone’s eating at the end of the day.

An employment agency will trim the proverbial fat off the process and make sure you’re finding the right people for the right job. Here are five things you should know about today’s job climate.

Employee Turnover Is Extremely Expensive

It’s much cheaper to keep employees around in the long term than it is to constantly cycle through new hires and train them. Just how much money is lost to employee turnover every year? According to recent statistics…as much as $11 billion. Think about what you could be using these funds for instead! An employment agency is expressly designed to counteract these trends and give you more freedom to focus on marketing, outreach programs or good, old-fashioned upgrading.

You Need To Prioritize Employee Retention

How do you counteract employee turnover, though? Consider reaching out to job placement agencies to help you with employment retention ventures. This means shaking up the way your business is run and giving your workers more incentive to stick around for the long-term. A recent study revealed a little over 20% of new hires will leave their jobs within 45 days of being accepted. The costs of employee turnover range between 30% and 150% of the employee’s salary, to boot. A structured on-boarding program is one way to help workers feel more confident, with one study revealing this can increase their chances of staying for three years or more by 60%.

Diverse Hiring Pays Off In The Long-Term

Staffing agencies will make sure you have all your bases covered. This means helping reduce employee turnover with employee retention ventures…and hiring diverse. There’s been a lot of buzz about the positive social and financial benefits of reaching out to unique hiring pools and this only becomes better understood by the day. McKinsey’s research is devoted to better assessing the beneficial impact of diverse hires on a business’s long-term success. They recently discovered gender-diverse companies are 15% more likely to outperform their competitors, while ethnically-diverse companies are 35% more likely.

Old-Fashioned Approaches Don’t Work Anymore

To touch on employee retention again…you need to reach out to a staffing service to take a more critical look on the way you approach new hires and consider that old-fashioned methods could be hurting you more than helping. Today over 90% of recruiters look at a candidate’s social media profile to determine whether or not they’re a good fit for the company. Many jobs today are remote, able to be done on-the-go in the comfort of a worker’s home. Even the interview process can be conducted online or through a video chat. How is your business adapting to the changing climate?

Staffing Companies Want To Help You Out

This may seem like a lot to keep track of. That’s where a job agency comes into play. Over three million temporary and contract employees work for America’s staffing companies during an average week, which means you have the cream of the crop when it comes to narrowing down your search. They’ll not only help you pinpoint more effective and diverse hires, they’ll assist you with tweaking your business behind-the-scenes to improve your chances of employee retention. The job market is only getting faster from here, so a helping hand will keep you from losing your head.

An employment agency wants to help you out. All you have to do is let them.