An executive search to fill a position at a job can be frustrating. An executive search can take a considerable amount of time, and is often frustrating primarily because of low rates of job retention in industries all throughout the United States.
In fact, more people are leaving their jobs and seeking out alternate employment situations than ever before, with nearly three million workers and employees throughout the country leaving their positions and even their companies by the end of June 2015 alone. This represents as much as a twenty five percent increase in the amount of employees and workers who are leaving their positions and places of employment than the rates of job turnover collected just two years previously to 2015. Millennials have even been referred to as the job hopping generation, with more than half of all the millennials currently in the workforce considering themselves to be open to accepting a new and better position at any time, with little thought for job loyalty to their current positions or places of employment. This means that millennials are more likely to leave their jobs in search for other positions more so than any other generation that came before them.
There are many reasons for low levels of employee retention, and the blame does not rest squarely on the heads of millennials. An executive search will reveal that only a very small percentage have been happy with their higher ups – in fact, only around twenty percent of all employed people in the United States feel that they are adequately encouraged in the United States and those without diversity throughout all levels of the company or business are also less likely to be able to retain employees at the rates that they would want.
Fortunately, those who have worked with conducting an executive search or in a professional job placement agency or with outplacement services have identified a variety of factors that can help to increase rates of both employee engagement and, subsequently, employee retention. Restructuring of a company can help to increase employee satisfaction with high levels of success rates. For instance, nearly ninety percent of all companies that have implemented employee satisfaction and recognition programs have noted an increase in overall employee rates of contentment.
Adding diversity to your company can also be an impactful way to increase rates of employee satisfaction and retention within your corporation or business. For instance, only five percent of all companies currently have female CEOs, and this may be impacting their employees’ overall satisfaction and happiness with their job, as well as their engagement and productivity. On the other hand, companies that are gender diverse as well as ethnically diverse were far more likely to outperform companies that were not by as much as fifteen percent – the more diverse the company, the better the outcome.
Low rates of employee retention can make any executive search a frustrating and sometimes demoralizing process. However, hiring a restructuring consulting firm and an outplacement counseling service can be hugely helpful in figuring out how to increase the overall engagement, happiness, and retention of your workers and employees. Things like gender and ethnic diversity not only have been shown to increase employee satisfaction, but will also actually increase overall rates of employee productivity and performance within your company. With more female CEOs than ever, steps are being made in the right direction. However, there is still a long way to go on the path of staffing and hiring with diversity and increasing your employee retention rates.