How Can HR Consulting Services Help Improve Employee Retention?
As human resources managers frequently discover, a successful search doesn’t end with a hire. The goal of a successful search has been redefined as a retained search, where the new hire settles in as a part of the organization. All too often, new hires tend to jump ship in the early months, leading to more expenditures on hiring. The lack of continuity and experience affect overall productivity and the work culture. Executive hr search firms offer consultative services that can help firms avoid these problems.
Packages including onboarding, career coaching, talent retention, leadership development and succession planning can help new employees find their feet and identify with their new employers, leading to higher job satisfaction and lower turnover.
From search to retention
The focus in talent acquisition has shifted from the search and hire process to include a strong emphasis on retention. That’s because a majority of organizations, as many as 57% of them, identify employee retention as a problem. The numbers back this assessment: more than one fifth or 22% of new hires actually leave their new jobs within a month and a half. This can be attributed to wrong hiring decisions and inadequate onboarding and career coaching, leading to temperament issues in the first case and poor performance in the second. For employers, the cost of high turnover can be as high as 30 to 150% of the new hire’s salary.
However, there are steps that businesses can take to improve retention. Human resources staffing research has found that when new hires are offered a structured on-boarding program, they are 58% more likely to stay with the company for three years or longer. Executive hr search firms can help organizations out together packages that will help in retaining new employees.
Hr consulting services
Executive hr search firms offer a range of services that can help businesses focus on their marketshare and product, while make sure they are organized correctly to fulfill their business objectives. Hr consulting service such as HR executive search, strategic HR consulting,
interim heads of HR or functional heads of departments, talent acquisition, learning and development, organizational development, career coaching and corporate outplacement services, compensation and benefits, and diversity and inclusion can help any business, whether it’s run by seasoned executives or 23-year olds.
For the majority of businesses, staffing is a leading concern. This involves not just the search and hire process but also employee retention and loyalty. Human resources and benefits are the key to employee retention and job satisfaction. Executive hr search firms offer a range of consultative services to help businesses perform better.