Employee Turnover Costs Businesses $11 Billion Every Year When To Hire Recruiting Agencies

Hiring seems like an art form sometimes.

Sometimes you stumble across the perfect hire out of the blue. Other times it can take weeks to fill up a position properly, despite all your outreach efforts. When you’re tired of taking a gamble on today’s job market, recruiting agencies are here to give you a nudge in the right direction. Instead of handing you the perfect employee on a silver platter (as nice as that sounds!), they offer you means of overhauling your approach and creating a positive cycle to benefit from year-round.

Brush up on what recruiting agencies can do for you by checking out the list below.

Change Your Applications

What’s one major reason you’re not getting the hires you need? Your application process may need a little work. A lot of traditional hiring methods that used to be commonplace back in the day are now obsolete, either driving away potential employees or bringing in the wrong people because of a lack of focus. Recruiting agencies can take a look at your website, your application process and any other data-gathering methods to make sure you’re asking the right questions to the right people. Over 20% of new hires will leave their job within 45 days of being hired, which means lost money and lost time on both ends.

Encourage Diverse Hires

Hiring diverse isn’t just a trend. It’s indicative of an economic shift that will only keep growing from here. When you reach out to more than just one pool of applicants you keep your options open, reaping benefits from different skill sets, perspectives and personalities. McKinsey’s research has only furthered this knowledge, showing gender-diverse companies and ethnically-diverse companies to be 15% more likely and 30% more likely to outperform their peers, respectively. Your average job placement agency is more than aware of how to bring out your company’s best to all sorts of people.

Reduce Employee Turnover

Let’s face it…employee turnover is expensive. Not only does it waste your resources, it wastes your time and leaves you in the position of constantly going back and forth when you should be moving forward. The costs of employee turnover range from 30% to 150% of the employee’s salary. It’s thought as much as $11 billion is lost to employee turnover every year, with one recent studies finding a majority of companies at 60% stating employee retention is a huge problem. This is one problem you, quite literally, can’t afford to overlook.

Create Better Programs

Another benefit you’ll appreciate very early on after hiring employment agencies is creating better structured training programs. It’s hard for an employee to bring out their very best without a proper amount of preparation, after all, and recruiting agencies will buff out any dents in your foundation. New hires that undergo a structured and thorough on-boarding program have been found to be 60% more likely to be with the company after three years. When in doubt? Let a professional pick up some of the slack of running your business this year.

Staff Your Team With Recruitment Agencies

Let’s summarize what we’ve learned. Many businesses are shooting themselves in the foot with obsolete application processes and faulty on-boarding training programs (or lack thereof), leaving them in the position of constantly attempting to find new people to fill in the gap. Employee turnover is an expensive problem that only gets worse with time and diverse hires are the way of the future. All this and more can be cultivated with the aid of recruiting agencies. They can figure out where your business is falling behind, offer you sound outreach strategies and, most of all, finally get you some results.

Hiring is an art form. Find an employment agency that will teach you to become a master.
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