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July 2017

Outplacement Consultants Provide a Strategic Advantage

Outplacement Consultants Provide a Strategic Advantage

Having a skilled and experienced staff makes an obvious difference with a company's success. When Vistage surveyed CEOs from both small and mid-sized businesses, 35% of these individuals stated that staffing was currently their most significant business issue. Furthermore, the topic of staffing was raised more than twice as much as other important business issues.

When a poor staffing decision is made, it has the potential to disrupt daily business operations. The reasons for making poor hiring decisions will obviously vary. In some instances, however, they may occur due to experiencing an immediate need to fill a position. In other words, the interview process may not be as thorough as it could have been.

In other cases, a new hire may initially appear to have the skill set and experience necessary to perform the job when the reverse is true. As a result, 22% of new hires may be cited for poor performance and temperament issues and leave within less than two months of being hired.

Employee retention is a significant issue for many corporations, and the reasons for this are multi-layered. It's been found, however, that having a structured on-boarding program can make a difference with the success rate of new hires. A recent survey found that 58% of the new hires who participated in this type of program were still with the company after three years.

When new hires or longer-term employees are laid off, outplacement consulting companies can provide services to assist with this transition process. Since employee retention is a concern for senior as well as mid-level executives, it can also have an unsettling effect on individuals in support services positions. Outplacement consulting companies can provide strategic resources to assist with acquiring new talent as well as providing motivational guidance to benefit existing employees.

When a company needs assistance with executive talent acquisition, working with an executive human resources search firm can make a significant difference in locating the right employee for the position. Furthermore, these firms also provide vital business consulting, career coaching, and other valuable services such as assistance with business restructuring.

If you're experiencing issues with employee retention or are expanding your business and need more executive talent, please contact our firm today to begin the process.