The Execu|Search Group, a New York-based recruitment and workforce management firm, cements in a new survey what many executives have already experienced: employees are easy to lose and hard to hire.
Proof: Half the employees who responded to the survey say they plan to stay at their company for two years or less.
And while millennials obviously play a big role in the hiring process today, this isn't just an issue for young people who don't value company loyalty. The survey, instead, shows that employers do a subpar job in the entire hiring process — and that could impact candidates at any age. Some examples include:
Three-fourths of the respondents say their hiring process, from initial interview to offer, takes more than three weeks, while the vast majority of professionals surveyed felt it should take 2 weeks at most;
In a response that bends more toward millennials, 34% of respondents say their interviewer could not convey the overall impact that their role has on the company's goals;
Nearly half the respondents, 45%, do not feel their interviewer made the effort to give them an introduction to the culture when they were interviewing for their current position.
Issues continue after a candidate is hired:
More than four out of 10 respondents, 42%, feel that executive leadership does not contribute to a positive company culture;
Nearly half the respondents, 48%, don't believe younger employees are encouraged to pursue leadership positions at their current companies.
The report says part of the issues stem from a job market that's in recovery and “given way to an entirely new type of candidate profile; one in which job seekers have the advantage.”
But not all hope is lost.
Execu|Search Group officials suggests several ways to improve the hiring process. For starters, the survey states, the entire hiring team “involved in the process should be informed of and be able to articulate the company's mission and beliefs.”
Not only should everyone know the company's mission, but people on the hiring team should also have a good grasp of the role and what it entails. “If the job description varies from person to person during the interview process, this can be a major red flag that there is no clear definition of the role,” the report states. Without clear expectations, the candidate could bail.
And turning back to millennials, culture is key. “Employers often hear that company culture is crucial within the employment experience,” the report states. “However, this doesn't mean that it's enough to offer simple perks like free snacks.”
Instead, employers need to think big, be bold and, the firm says, above all else be transparent about goals and objectives. “Companies,” states the report, “should put more emphasis on creating a unified culture that empowers employees, focuses on career development and facilitates a new model of leadership.”
34% of working professionals said their interviewer could not convey the overall impact that their role has on the company's goals.
45% do not feel their interviewer made the effort to give them an introduction to the culture when they were interviewing for their current position.
75% of the respondents say their hiring process, from initial interview to offer, takes more than three weeks, while the vast majority of professionals surveyed felt it should take 2 weeks at most.