Do you work in Human Resources? How about at the executive level of HR? Great news — outplacement consulting firms all over the United States view you as some of the best, and least risky clients they have. Your industry is known for its consummate professionalism, and businesses all over the country are happy to work with you.
Over the past few years, alarming trends have surfaced, which seem to indicate that businesses are growing nervous about the hiring process in general. The reason behind this is the reason behind virtually every decision or official position a company takes — money. As reported recently, the cost of employee turnover can be anywhere between 30-150% of that employee’s potential earnings.
Let that sink in. Every time a company loses an employee, the loss in efficiency is financially similar to taking 30-150% of a potential new hire’s salary and throwing it out the window before hiring the next person. Businesses are growing tired of it, too.
Over 35% of CEOs of small businesses recently surveyed by Vistage claimed that staffing was the most significant business issue they currently had. In fact, staffing is reportedly cited twice as often as an issue than anything else.
On a broader scale, when more than just CEOs’ answers were factored in, it was determined that nearly 60% of all businesses view employee retention was a major problem for them.
If you’re a consummate human resources professional, then you should have no trouble noticing the increased investments that businesses and other talent acquisition entities are placing on you. Businesses are losing money by trusting every potential and prospective employee as a risk-free investment, and they are increasingly preferring to do business through outplacement services.
Feel free to share if you have any questions or concerns in the comments.