Talent Acquisition Remains a Challenge for Many Companies of All Size
December 27, 2020
Finding and keeping the best employees is no easy task with today’s record low unemployment rates. Fortunately, there are executive search consultants and other kinds of human resources consulting firms that can help provide guidelines for not only vetting the best employees, but also finding a way to keep them on staff. Too often, the employees that a company invests in do not stay the duration and an employer is forced to respend money on finding replacements. From the executive search consultant services that help large corporations find the leaders they need to other kinds of job placement agency options that help locate temporary help for companies that need seasonal workers, there are a growing number of options to help bridge the gap between needed workers and those who are looking for jobs.
No matter which end of the hiring spectrum you are on, there is a chance that executive search consultants can help you find the options that you need. Finding the best executive search consultants, in fact, can make a difference in your next career or your next hire.
When Was the Last Time Your Company Had to Hire an Executive Leader?
Too often, companies are crippled when they find themselves unable to find the right talent for the openings that they have. The latest research, in fact, indicates that it costs as much as 30% to 150% of a positions salary to find a new hire. In addition to the financial costs, there is also the amount of time that has to be invested in finding the right employees for the right jobs. When it comes to finding executives and leaders, the challenge of finding the right person can be even more of a challenge.
Consider some of these facts and figures about the many times when companies of all size are willing to invest in professional executive search consultants:
- A recent survey by Robert Half, a national hiring and consulting firm, showed that one-third 36% of 1,400 executives surveyed felt the top factor leading to a failed hire, aside from performance issues, is a poor skills match. Unclear performance objectives is the second most common reason at 30%.
- Representing a 25% increase compared to two years ago, 2.7 million workers voluntarily left their jobs at the end of June 2015. This statistic serves as a substantial loss and challenge to the companies that need to replace these workers.
- Only two out of 10 workers believe their manager is doing a good job of encouraging them to do their best work, according to a recent Gallup poll..
- As many as 86% of companies with employee recognition programs cite an increase in worker happiness, so this is an addition that many companies are hoping to implement in an effort to recognize effort and improve the length that people stay at a job.
- With 27 women heading major firms, the percentage of female CEOs in Fortune 500 companies topped 5% for the first time in the first quarter of the year 2017.
- With six in 10 open to a new job at any given time, according to a 2016 Gallup poll, Millennials have been named the Job Hopping Generation, as this 60% statistic is 6 more than any other generation.
McKinsey, another national research firm has studies that show gender-diverse companies are 15% more likely to outperform their peers and ethnically-diverse companies are 35% more likely to do the same. As a result, there are movements in some of the best performing companies to create a more diverse work culture in an office. With people from different walks of life, many companies are able to create a work environment that is not only more inviting, but also more productive.
In a time when unemployment rates are at record lows in many parts of the country, it can be especially difficult to fill some kids of job positions. As a result, there are more and more companies who are turning to hiring consultants to find the right talent and to Human Resources consultants to keep that talent. The success of your company will depend on the people who are completing the tasks that will produce the goods and services you offer.