Is employee retention an issue with your business or organization? A recent survey showed that this is an issue for over half, or 57%, of the organizations polled. While the reasons for this will vary, a human resources executive search firm can assist you with locating new employees by providing talent acquisition services.

Two reasons that new employees may leave their jobs pertain to temperament issues and poor performance. A recent survey found that approximately 22% of new employees actually leave their positions within six weeks.

Whether employee retention issues arise from poor hiring decisions or other factors, the U.S. Department of Labor reports that they are costly. In many instances, these hiring decisions can be equivalent to 30% of the employee’s potential earnings within their first year.

In a recent survey conducted with 1,400 executives by Robert Half, it was shown that next to performance issues, a poor skills match was a predominant issue for 36% of these failed hires. Unclear performance objectives was the second most common issue for 30% of these failed hires.

There are, of course, several effective solutions to these and other issues relating to failed hires. Were you aware that when new employees participate in a structured on-boarding program that they will probably stay on with the company for three years or longer?

Another strategy to assist with employee retention is having an employee recognition program. It was found that 86% of the companies with these programs in place reported that their workers were happier. When employees are happier in their positions, they are less likely to explore new job prospects.

Jobvite conducted a recent survey where it was found that around 53% of employees remain open to new positions. This is interesting to note, especially since these individuals weren’t actively looking for new jobs.

Some employees may be open to leaving because the current company for which they work is not gender or ethnically diverse. Were you aware that research conducted by McKinsey has shown that gender-diverse companies actually outperform their counterparts by 15%, and ethnically-diverse companies do so by 35%?

If your company is having issues with employee retention, or if it’s expanding and in need of additional staff, an executive placement agency can assist you with talent acquisition. If you’re planning to restructure your business, an executive placement agency can also provide you with a restructuring consultant to guide you to make more effective hiring decisions. Get more on this here.