The success achieved by a business depends on its people. Hiring and retention policies, from top executives down, affect office morale and productivity. However, talent searches and especially retained hires can be a challenging task for most businesses. Outsourcing hiring strategy and human resources consultations to an executive placement agency can take the guesswork out of the process. These services can be especially useful for startups looking to line up the right team to meet their business objectives.
Why retained hires are a challenge
For most human resources departments, finding the right hires and retaining new hires can be a very challenging task. This is further complicated by the phenomenon known as job hopping, which has been increasing in recent years. Figures form June 2015 show that as many as 2.7 million workers changed jobs. This is a 25% increase from two years ago.
Millennials in particular have a tendency to change jobs frequently. A Gallup Poll conducted in 2016 found that 60% of millennials were open to looking for better job opportunities. For all those concerned with hiring and retention, including CEO’s, CFO’s, startup founders, board members, and HR and Talent Acquisition departments, finding the right strategies to retain talent can be central to meeting business objectives.
How an executive pavement agency can help
Outsourcing executive search to executive search consultants has many advantages. Such companies have years of experience in placing senior HR executives and advising them on their careers. They work with all kinds of businesses, from startups to Fortune 100s. Further, HR consulting companies have built up extensive industry networks that they can draw upon to find the right hires for executive placement.
Many companies also offer onboarding consulting for new hires. Retention rates for new hires tend to be higher for those that have undergone an onboarding process on joining. HR consultants also offer a range of career-related services like executive coaching and support, talent retention, leadership development, succession planning, and executive coaching.
HR consulting for startups
Many startups can benefit from a professional hiring strategic plan in place, sometimes even before they begin. This allows them to create scalability at the outset. Hiring an executive placement agency lets startups focus on growing their business, concentrating on areas like marketshare and product. A professional hiring plan will ensure that their staff are organized and ready to meet business objectives.
For all businesses and particularly for startups, Diversity and Inclusion are major concerns. Studies have found that diversity actually improves workplace productivity. Gender-diverse companies outperform their less diverse peers by 15% and ethnically-diverse companies by 35%.
The success of a business depends on having the right staff. Finding the right new hires and retaining them can be a challenge for any business, and especially for startups. Outsourcing these tasks to an executive placement agency has many benefits. HR consulting firms have wide experience in the area, industry networks they can draw upon, and a range of career-related services that can help new hires to succeed.