Employees Will Be Easy to Lose and Hard to Hire in 2017, According to The Execu|Search Group's Hiring Outlook Report
Survey of over 1,000 job seekers, working professionals, and hiring decision makers reveals what professionals expect in a hiring process and want in a job, and whether employers are meeting these needs
NEW YORK, Jan. 12, 2017 /PRNewswire/ -- The Execu|Search Group, a recruitment, temporary staffing, and workforce management solutions firm, released today its 2017 Hiring Outlook: Strategies For Engaging With Today's Talent And Improving The Candidate Experience. The report provides insights into the considerations professionals make when deciding whether to apply for a job, join a company, or leave their current position. The Hiring Outlook also offers actionable recommendations for employers to help them attract and retain the best talent in today's candidate-driven job market, one in which job seekers have the advantage. The findings were taken from a survey of more than 1,000 job seekers, working professionals, and hiring decision makers across a number of industries.
"As the job market continues to evolve over the next year, engaging with talent will become even more critical to an organization's success," said Edward Fleischman, Chairman and CEO of The Execu|Search Group. "With this in mind, employers need to embrace transparency during the hiring process and in the workplace. They must also be aware that the candidate profile is changing, especially in regards to millennial employees as they progress from entry-level roles to management positions. To adapt to these changes, we hope employers leverage our 2017 Hiring Outlook as a resource for creating a unified culture that motivates all employees, focuses on career development, and facilitates a new model of leadership."
The Execu|Search survey found that 50% of employees plan to stay at their current company for only two years or less. Keeping this in mind, the Hiring Outlook report provides specific ways in which employers can improve the experience job candidates have during the hiring process, increase engagement and retention among current employees, and develop a more transparent culture and leadership structure that align with the needs of today's workforce.
Findings of the 2017 Hiring Outlook surveys include:
Employers are struggling to retain and hire top talent
The top 4 reasons employees are leaving are lack of advancement opportunities, lack of salary growth, negative work-life balance, and poor corporate culture.
61% of respondents reported they were interviewing for two or more roles during the interview process for their current position.
50% of employees say that they are planning to stay at their current company for two years or less.
Employers are not providing the hiring experience expected by job candidates
75% of employer responses stated that their hiring process, from initial interview to offer, takes 3+ weeks, while the vast majority of professionals surveyed felt it should take 2 weeks at most.
34% of working professionals said their interviewer could not convey the overall impact that their role has on the company's goals.
45% of working professionals do not feel that their interviewer made the effort to give them an introduction to the culture when they were interviewing for their current position.
Companies need to take a more active approach to culture, retention, and leadership development
76% of millennial respondents said that professional development opportunities are one of the most important elements of company culture, and 59% of professionals said that access to projects to help keep their skills up-to-date would keep them satisfied at their current company.
42% of professionals feel that executive leadership does not contribute to a positive company culture.
48% of all working professionals say that they do not believe that younger employees are encouraged to pursue leadership positions at their current companies.
Working professionals ranked opportunities for professional development, emphasis on work-life balance, collaboration with team members, and access to leadership/management as the most important aspects of company culture.
About The Execu|Search Group: The Execu|Search Group was founded in 1985 as a recruitment firm focused on serving accounting firms, boutique hedge funds, and private equity funds. Over time, our firm has evolved into a full-service recruitment, temporary staffing, and workforce management solutions firm that has helped over 26,000 companies find talent, while connecting over 60,000 people with new jobs.
Headquartered in New York City with 8 additional offices in New York, New Jersey, Connecticut, Massachusetts, and Florida, The Execu|Search Group has become one of the largest privately owned recruitment firms. Amidst our continued growth, we remain dedicated to the mission our firm was founded upon: to provide leading employers with the highest caliber talent while maintaining our commitment to integrity, honesty, and responsiveness.
Today, we serve the following practice areas: Accounting/Finance, Creative & Digital, Engineering, Financial Services, Health Services, Human Resources, Information Technology, Legal Services, Life Sciences, Nonprofit, and Office Support.