As executive HR search firms and HR recruiters can all attest, employee retention rates have been hugely problematic in recent years, with worrying numbers surrounding them seen in all aspects of employment, in all different industries, and in all different places of work. Many executive HR search firms and Human Resources recruiters have found themselves quite concerned indeed over these numbers – and it has only made the role of executive HR search firms more important than ever before.
And the data that has been gathered on the subject more than backs up the worries that many of these executive HR search firms have felt. After all, more than two and a half million employees had moved on from their jobs by the time that the June of 2015 ended. From just two years prior to that date, this showed an increase in the number of employees ending their role with a company by a full one quarter, as much as 25%. In addition to this, up to 60% of all millennial employees currently in the workforce of the United States have said that they would be more than willing to leave their current position if a better one were to come along – it is not for no reason that millennials have become referred to as the “job hopping generation” by those outside of it.
As many executive HR search firms know all too well, there are likely a number of different reasons for such poor rates of job retention seen so commonly all throughout the United States. For one thing, many people feel that their places of work are lacking in the necessary support and encouragement. After all, a scant 20% (a mere one fifth) of all employees throughout the country actually feel as if they are being adequately motivated by their superiors and higher ups. For the rest of employees in the workforce, this element is very much lacking, something that can certainly be hugely detrimental to workplace culture indeed.
Fortunately, this is a relatively easy fix, as more and more companies are implementing various forms of employee recognition programs. In fact, many executive HR search firms and the like are likely to recommend these employee recognition programs, as they have proven to be quite successful all throughout the country. After all, more than 85% of places of work say that the impact the programs have had has been hugely beneficial, improving overall worker happiness in a considerable and even quantifiable way. And happier workers are workers that will not only produce better work, but who are more likely to stick around for the long run as well.
Diversity in the workplace can also be hugely beneficial, something that has been backed up by a good deal of data collected on the subject. In fact, companies that strive for gender diversity within the workspace will actually see much better results in terms of the what employees are producing, as such companies outperform less gender diverse companies by as much as 15%. And ethnic diversity has an even more considerable positive effect, as ethnic diversity can lead to as much as a 35% jump in performance here in the United States alone. Fortunately, diversity has become more of an important matter than ever before here in the United States, and more and more people and companies are interested in pursuing it all throughout the country.
There is certainly no doubting the fact that job retention has become a very real concern here in the United States. After all, the data doesn’t lie and it shows a concerning trend of people leaving their jobs after only a very short period of employment. However, there are a number of quantifiable steps that the average company, big or small, will be able to take to improve their overall employee retention rates. From adding in employee recognition programs to simply training employees more thoroughly, the problem of employee retention is far from unfixable when the resources are there to do so. At the end of the day, these resources will be very important for many companies to utilize indeed .