Many employees voluntarily leave their positions on a regular basis. Even though some of these individuals may be content in their current jobs, they continue to be open to new opportunities. There are a variety of factors that may contribute to an employee’s willingness to change jobs.
A Brief Overview of Job Hopping Trends
By the end of June 2015, for example, 2.7 million workers chose to leave their positions on a voluntary basis. It’s important to note that this amounted to a 25% increase from 2013. Furthermore, a 2016 Gallup poll identified Millennials as the “Job Hopping Generation.” The poll’s results indicated that this age group was more open to new positions than other age groups, with six out of ten of the participants being willing to change jobs at any time.
A Brief Overview of Factors That Lead to Failed Hires
Robert Half conducted a survey with 1,400 executives regarding failed hires. While performance issues were part of the equation, the primary factor for these failed hires was a poor skills match, according to 36% of these executives. After a poor skills match, the next major reason was unclear performance objectives, as indicated by 30% of the participating executives.
The results of a Gallup poll also pinpointed likely reasons for failed hires. Just two out of ten workers, for example, indicated that their managers provided strong leadership. In other words, their managers didn’t encourage them to “do their best work.” While some employees can work independently and take pride in their work, others require more guidance and encouragement.
How to Increase Worker Happiness and Performance
Companies that have a gender and ethnically-diverse staff tend to outperform their counterparts, according to research conducted by McKinsey. The results of McKinsey’s research indicate that when a company is gender-diverse, it will tend to outperform its peers by 15%. When a company is ethnically-diverse, it tends to outperform its peers by 35%. A company that is both gender and ethnically-diverse may outperform their peers at an even higher percentage.
To illustrate the effectiveness of gender-diverse companies, there has been an increase in Fortune 500 companies with female CEOs. During the first quarter of 2017, there were 27 women in these positions, which amounts to an increase of five percent.
Employee recognition programs have demonstrated the ability to increase worker happiness. Given reports by the companies that do have these programs, 86% have indicated that there has been a increase in their employees’ happiness. Given these results, it’s likely that happy employees will tend to remain with their respective companies for several years.
Learn More About Talent Acquisition
If your company is in need of new talent, you may have considered the benefits of working with an HR executive search consultant. Since a human resources executive search agency has extensive experience with providing talent acquisition services, their HR executive search consultants will be able to assist you with filling vital positions. Furthermore, an HR executive search consultant will also be able to provide your company with recommendations if you’re planning to restructure, create an effective on-boarding program, or worker recognition program.