No matter where you get your news, it’s obvious that we’re in the throes of a leadership crisis -- or three or five. President Trump’s head-scratching “surrender summit” in Helsinki with Russian President Vladimir Putin sent shockwaves across the globe. Meanwhile, British Prime Minister Theresa May faced her biggest political setback as David Davis, the key Brexit negotiator, abruptly resigned because he could no longer, in good faith, go along with the exit strategy. And of course, Uber[...]
Award-winning MSPs will tell you their core task is to ensure hiring manager satisfaction and program adoption. How? Through a flawless talent acquisition process that consistently delivers the best talent at the most competitive rates, with the fastest submittal times. And finding the best talent means tapping into the recruiting prowess of top suppliers.
If we look back at the Bureau of Labor Statistics’ (BLS) jobs report for the summer, the figures tell a more nuanced tale than stasis or small improvements. The good news is that businesses hired 5.1 million professionals. The bad news is that all industries, in aggregate, witnessed labor turnover rates to the tune of 4.9 million workers. The 0.2 percent difference would indicate that just as many people left their positions as came aboard. Other sources, such as Compensation Force, depict employee attrition rates close to 17 percent, based on a survey of 28,000 companies. That’s the highest level of churn since 2008, the dawn of the recession. What happens when turnover spikes? Organizations scramble to backfill positions, oftentimes creating opportunities for contingent staffing providers. However, backfilling is usually a short-term fix for what can be a longer-term issue. Instead of backfilling, let’s see how progressive filling can innovate a fresh approach to a stale situation.
Companies today are experiencing major issues with employee retention. The lure of the gig economy has grown from a “necessary evil” in the aftermath of the recession to a lucrative business opportunity for driven professionals. These individuals seek the flexibility, freedom, self-direction and higher income potential that non-traditional work offers. That’s not such a boon for employers who want full-time people. Staffing professionals benefit from this demand for contingent talent, yet keeping proven performers is just as critical to their success. Right now, employee retention has taken its place as one of the most important topics in conversations about the future of talent, from the political stage to the desks of HR. Let’s look at how staffing experts can individualize and reshape their programs to retain high caliber workers, stellar performance metrics and margins.