A business’s assets are many, from its building or buildings to its cash flow to transport vehicles to fax machines, but the most critical resource of all is the people working for that company. Often, a skilled, motivated, and cheerful pool of employees can make the difference between good business and spending lots of extra money on turnover rates and missing skills in the workforce. Finding the right employees for the job and having good retention rates is vital for any business today. Employment agencies, temp agencies, and staffing companies are all ready to help.
Why Worry About the People?
Any good company takes good care of its assets, and this, most of all, means tending to the workforce. Good employees not only have great skills but prevent the high costs of constantly finding new workers to replace them. In fact, an estimated $11 billion is lost every single year due to employee turnover rates, and some 57% of organizations recognize employee retention rates as a significant problem. Turnover can indeed cost a company lots of money, and many employers realize this. An estimated 22% of new hires are expected to leave their jobs within 45 days after they were hired, and the cost of employee turnover can be withing 30% to 150% of the employee’s salary.
Today, many companies choose to outsource some of their work. Anything from accounting to business travel may be outsourced, and this includes finding new employees. After all, finding the right employees with the right skills, educational background, and personal character can be expensive and difficult, and can strain a company’s HR department. Instead, this work is often outsourced to employment agencies of different kinds. Temp jobs, for example, can be filed when temp services find candidates with the right skills and professional status to fill that job; that is, finding candidates who are seeking temp work to build their own resumes and skill set. A veteran boss from a previous company may not constitute a good temp worker, but a recent graduate student with developing skills and a flexible schedule can make for an ideal candidate, often a young man or woman looking to get their foot into the business world’s door.
Middle level work positions can be filled with general employment agencies, who often coordinate with an employer’s top offices and HR departments to find the right candidate. These job placement agencies can quickly and easily search many resumes and other candidate profiles to find someone whose skills, personality, availability, and educational background match what a particular company is looking for, and informs the employer of the candidate. This may result in more desirable, needed candidates being brought to the company than if the company performed its own search, and this method can also save money and time alike for the employer. Staffing your business can be painless and efficient when employment agencies are brought in.
Even higher level offices can be filled with such a service. Headhunter services can find candidates for senior management at a company, and this service is separate from those that fill middle to lower level offices, especially since the quality of the candidate can severely affect how well a company performs. Candidates with qualifications at this level can also be difficult to come by, as opposed to finding temp workers or middle level workers.
Even employees with the right skills and education for the job may leave if the workplace does not appeal to them on a professional and personal level, and this can create painful levels of turnover for the employer. However, employers can take steps to keep employees, especially new ones who have less to lose, on board. A competitive package of benefits and other perks can go a long way, and regular interviews with employees about their satisfaction, skill development, and networking development can all allow an employer to know what his or her employees are enjoying about the job, and what they are still looking for. More minor, everyday tactics such as encouragement or acknowledgement of projects and work efficiency can make an employee feel relevant and wanted, and this can prevent an employee from wanting to find newer opportunities elsewhere.