Employee turnover costs companies $11 billion annually. In fact, 57% of organizations view employee retention as a problem. Employment agencies are a valuable resource for any business and recruiting agencies and staffing agencies are becoming more popular. Temp agencies are also helpful in times when the job is only for a limited time. In fact, more than three million contract and temporary employees work for America’s staffing companies during an average week.
It has been shown that new hires that undergo a structured on boarding program are 58% more likely to be with the company after three years. When they invest their time to understand and learn their job well, they are less likely to leave in a short time to look for another employment opportunity.
Online presence has become more invaluable to employment services as of late. In fact, 93% of recruiters look at a candidate’s social media profile. Training potential employees how to update and improve their resume, keep current information and references and be present on reputable sites is imperative for those serious about getting hired. When the employment opportunity arises, they will be prepared with the right mentorship program.
Not only does the potential employee need to step it up, but organizations who want to hire and keep their employees also need to invest time and money in training and retaining programs. Of those studied, 86% of companies with employee recognition programs cited an increase in worker happiness. Ongoing workshops, health incentives, and a welcoming environment all add up to a place employees want to return to.
The cost of employee turnover ranges from 30% to 150% of the employee’s salary. McKinsey?s research shows that gender diverse companies are 15% more likely to outperform their peers and ethnically diverse companies are 35% more likely to do the same. If employees are not happy, they will seek another employment opportunity.
With an agency who has combined experience, the recruitment team has been trained to find the best employment opportunities for both clients and candidates. They can provide the very best service to employers and job seekers every step of the way. For more about this, go here.