Staffing Agency: The Talent Paradox
In Deloitte’s most recent global survey of employees, 80 percent indicated they planned to stay with their same employer in the next year. Yet, almost one third of employees were not satisfied with their jobs. It’s the paradox of employee talent. Are they truly satisfied at their jobs? Or simply making do? Does the distinction even make a difference?
The answer is yes- employee satisfaction makes a considerable difference. Satisfied employees increases retention and helps companies recruit and keep top talent. So what are the factors that increase employee satisfaction?
Engage employees with meaningful work. As our economy continues to recover, unsatisfied employees, gaining confidence in the growing opportunities beyond their job, are more likely to head for the exit. In contrast, work that challenges and engages employees is often a top factor in high employee retention rates.
Focus on “turnover red zones.” There are several key traits that may indicate a high likelihood of turnover. Employees with less than two years on the job express the strongest turnover intentions. In the study, two years seems to be the threshold mark: keeping high performers past two years increases the likelihood of them pursuing a significant portion of their career with the company. Millennials also have a high turnover risk; by identifying these target groups and trends, employers can focus on better meeting employee needs and reducing turnover.
Leadership matters. 62 percent of employees who planned to stay with their current employees reported high levels of trust in their corporate leadership. And, 26 percent of those who planned to leave their jobs in the next year cited a lack of trust in leadership as a key factor. A strong executive voice can clearly articulate the vision of a company and provides guidance to employees.
So how does this matter to the staffing industry? Depending on the position you recruit for, it could be a lot. Knowing the employment market, the trends (are workers leaving or staying at their jobs?) can help you get a more accurate picture overall. It can also help you pitch jobs to candidates. If you know leadership and engaging material are important to employees, maybe company culture is what you should present to candidates- it can be an additional recruiting strategy.
World Wide Specialty Programs has always had a singular purpose – to design, develop and provide staffing insurance programs for the staffing industry. Working with over 2,000 insurance brokers nationwide, we know the staffing industry better than anyone, and can provide great options for your staffing industry insurance needs. Contact us today for more information about our staffing agency insurance solutions. (877) 256-0468.