Human resources managers, talent acquisition executives, CEOs, CFOs, and startup founders all discover that the success of firm depends on the success of its employees. Finding and retaining talent can be a challenge, especially when dealing with millennials who are prone to job hopping. HR executive search firms can guide and advise companies on how to retain new hires, and also on strategies for professional development and steps to maximizing employee satisfaction and productivity.
The importance of retained search
Finding and hiring new talent can involve a major input in terms of both time and effort for all firms. Whether it’s a top-notch Fortune 500 company or a startup, it can be safely said that the only successful hire is a retained hire. However, in the new economy, people are always on the lookout for a better offer, and tend to change jobs much more frequently than before.
For instance, at the end of June 2015, 2.7 million workers left their jobs voluntarily. This figure represents a 25% increase over the corresponding figure in the previous year. There are a few strategies that can be used effectively to retain new hires, and hr executive search firms are well placed to offer advice and guidance on how to implement these policies.
- Matching candidates to skills
Studies have shown that new hires are much more likely to leave their jobs. A survey by Robert Half found that the leading cause for this was a poor fit between the skills required for the job and the candidates’ qualifications. The second most important reason why new hires left their jobs was that performance goals and expectations were not clearly defined.
The best hr executive search firms can help firms to avoid these problems by using their networks and experience to identify and recruit the right candidates for each position. They can also advise the firm on best practices to retain new talent and to support new hires in their careers.
Onboarding and professional development
Executive search consultant services don’t end with a successful hire. In fact, helping new hires settle into their roles, and supporting them though professional development programs is essential to their success. Onboarding helps to define a clear set of goals and expectations, and employee recognition programs contribute to greater job satisfaction. All of these initiatives can contribute to the development of a more productive and successful work ethic.
- Diversity and inclusion
These are not just catchphrases but a real basis for success. Research from McKinsey’s proves that ethnically-diverse firms outperform their peers by 35%, while gender-diverse companies perform 15% better. Diverse and inclusive work environments are more productive, and also better suited to the work ethic and sensibility of millennials, who will soon make up a majority of the workforce.
A successful firm is made up of successful employees who experience a high level of job satisfaction. This work environment can be built up through a series of steps. HR executive search firms can help and advise firms on polices and programs to help new hires settle into their roles and succeed.