19Jan

How to Improve Employee Retention Rate?

GExSearchStaffing industry

Retaining top talent is essential for any organization. High employee turnover can be costly and disruptive, leading to decreased productivity, increased training expenses, and a negative impact on company culture. On the other hand, a strong employee retention rate can lead to a more stable and successful workforce, which can ultimately drive business growth. So, how can you improve your employee retention rate?

The Problem Statement

The costs of high employee turnover can be significant. According to the Society for Human Resource Management, the direct costs of replacing an employee can fall anywhere between 50% to 250% of that employee’s annual salary. In addition to the financial costs, high turnover can also lead to a decrease in morale and productivity among remaining employees, as well as a negative impact on customer service.

There are many factors that can contribute to high employee turnover. Some common causes include:

1. Lack of career development opportunities: Employees may leave if they feel that they are not being given the opportunity to grow and advance within the organization.

2. Poor work-life balance: Employees may leave if they feel that their job is taking up too much of their personal time and energy.

3. Low job satisfaction: Employees may become disengaged and leave if they are not fulfilled by their work or if they feel that their contributions are not valued by the organization.

4. Poor working relationships: Employees may leave if they do not get along with their co-workers or feel that they are not supported by their managers.

How to Improve your Employee Retention Rate?

To improve your employee retention rate, consider implementing the following strategies.

1. Provide ongoing training and development opportunities: Investing in the professional growth of your employees can help them feel more fulfilled and engaged in their work.

2. Create a positive work culture: A supportive and collaborative work environment can go a long way in keeping employees happy and motivated.

3. Address employee concerns and complaints: Prompt resolution of employee concerns and complaints improves job satisfaction and builds trust within the organization.

4. Offer competitive compensation and benefits: Attractive salary and benefit packages can help retain top talent and attract new employees.

Conclusion

Improving your employee retention rate requires a combination of strategies, including providing ongoing training and development, creating a positive work culture, addressing employee concerns and complaints, and offering competitive compensation and benefits.

At GEx Search, we ensure that all these strategies are taken care of comprehensively. We believe that by investing in employees and by creating a supportive and fulfilling work environment, we can build a strong and stable workforce that drives business growth and success.

Do you have any additional tips for improving employee retention? Share your thoughts in the comments section below.

21Dec
GEx- Your Undercover Offshore Recruiter

GEx- Your Undercover Offshore Recruiter

GExSearchSeamless hiring, Staffing industry, Staffing services

What is Offshore recruiting?

Offshore recruitment is essentially a process of outsourcing a company’s recruitment tasks and needs to a third-party firm specializing in recruitment services.

Third-party organizations usually take the form of overseas employment corporations. Right from managing the entire recruitment front, including sourcing, interviewing, screening, and onboarding services, to providing administrative support, these corporations can help you significantly accelerate your company’s recruitment health.

Companies that use offshore recruitment do so in an attempt to either find cost-effective alternatives or unique expertise that’s not easily accessible locally.

Benefits of offshore recruitment

Partners in offshore recruitment provide enterprises with a wide range of benefits. Accessing top-skilled resources is the most significant of them. Companies that require competent individuals for their projects but lack the time or resources to do it themselves will find offshore recruitment providers to be the perfect option.

These third-party firms usually specialize in offshore and global recruitment, ensuring that the right talent and company find each other even from across the world.

It is a well-established fact that the right set of employees can significantly accelerate a company’s growth and take it down the path of success. According to an article published by The Economist, offshore recruitment firms can help cut down on 30% of the training and infrastructure costs of a company.

GEx Search is one such progressive global recruitment company, specializing in Global and Offshore recruitment services. With our innovative strategies and expertise in the field, we find the perfect talent that your business needs from around the globe and bring them to you. We at GEx Search understand the needs of every organization and work towards fulfilling them to the best possible capability. Our tireless drive towards perfection makes us one of the best placement agencies, nationally & internationally!

What makes GEx better?

1. Business Success: We believe in blending ideas with the right approach to get the best results. Our growth-centric and result-oriented approach ensures your company never misses out on the top and best employees. Our algorithm-driven profile match plays the role of a corporate cupid, matching the right employees to their required companies. We ensure the success of every business we partner with. Our services are optimal and are designed to provide clients with a simple, quick, and efficient recruitment process. Our experience working with various industries over the years allows us to work efficiently with diverse client needs.

2. Our Values and Dedication: What sets us apart from other recruitment firms is the set of values we hold as a firm. We stand by our strong values of loyalty and accountability toward our clients. Throughout the requirement process, our dedicated team members will be there for you every step of the way. We love to watch your business grow and achieve success.

3. Transparency: We stand out among other recruitment firms because of our transparent values and clear communication with our clients. We believe in being more collaborative to build a better understanding of them. We are open and honest with our clients, which fosters trust and improves teamwork.

Hiring the right recruitment firm can be an absolute game changer for your business, and what better time to partner with the right team than at the beginning of the year? Let’s work together and make your brand the biggest success for the year 2023 and the years to come after that.

25Oct
RECRUITING-SUPPORT

5 Core HR Functions that can be Outsourced to GEx

GExSearchStaffing services

5 Core HR Functions that can be Outsourced to GEx

Human resource is a huge function with several crucial sub functions. No, it’s not just about hiring and salary, they are just two of the core sub-functions and the list huge. And that is why it is a very busy department that requires a lot of investment in terms of hiring skilled human resource personnel and time needed for all the processes.

Businesses often get overwhelmed with the huge array of tasks associated with the Human Resource Department. Fortunately, it is now possible to outsource core HR functions to a third party and focus on scaling your business. You did not know that? Well, now we have told you. Which HR functions can you outsource? Here they are.

List of the top 5 Core Services

1. Recruitment

Recruitment is a long-drawn process that calls for a lot of time and energy from the HR professionals. Outsourcing this function gives you access to superior resources with the help of third-party experts. It also enables you to hire international talent without breaking a sweat.

Recruitment companies take care of all the processes right from CV shortlisting to contracts of the selected employees and even the legal compliances related to international recruitment. So, at the end of the day you get to work with the CRÈME DE LA CRÈME of industry while focusing all your energy in running your business rather than finding the right people.

2. Performance Management

Performance management is an unavoidable function of the human resource department. It includes sub-segments such as salary negotiations, annual reviews and other performance related activities. All of these again are time-consuming and need a lot of expertise. And you may run short of one or both of them.

The best way out is to outsource performance management and sit back while your employees are treated well and fairly. A third-party HR company can also help you identify and set performance goals and appropriate actions for the expected performance.

3. Payroll

Payroll processing is one of the most commonly outsourced HR processes. And that is for obvious reasons. Payroll processing is a complicated process that involves calculating salaries while considering leaves, deductions, taxes reimbursements and many other factors. It can get confusing and result in a lot of errors in the absence of skilled professionals.

Outsourcing this function can save you a lot of headache and even legal hassles that may occur because of calculation mistakes. Save time and money by outsourcing function to a top-notch company.

4. Employee Training

Employee training is a crucial aspect of an employee’s and the company’s growth. It involves identifying skill deficits and helping employees with the necessary tools. This function improves self-confidence and performance while upping the employee morale and improving employee satisfaction.

Outsourcing this function to a top human resource company will help you leverage their best-in-industry resources and the expertise in delivering training material. This one step can save you a lot of money and the need to hire expert trainers.

5. Compliance and Safety

Running a business with a certain number of team members involves a number of rules, regulations and mandates. All of them can be highly confusing and complicated at their best and if you are a new business owner, they are capable of overwhelming you with all the legal jargons.

Thankfully, this function can also be outsourced. A compliance partner can take all the legal weight off your shoulder by taking care of verticals such as disputes, safety regulations, employment laws, harassment settlements and so much more.

Is HR Out Sourcing Good for your Business?

Yes, it is good for every business that wants to focus their energy on scaling the business. It can also work wonders for businesses that want to optimize functions and efficiently manage their expenses. In short, it is for any business that needs outsourcing.

Outsourcing human resource functions can help you save on the huge amount of time and money spent on maintaining an HR department. While some companies may not have the inclination to maintain an HR department it is also true that some companies do not need one. An outsourced HR company can do a magnificent job and still look good on the company cost sheet. Think about it.

GEx is a trusted recruitment partner of businesses across industries. It offers both onshore and offshore recruitment services along with several core HR services. Head to the GEx website to find out what we can do for you.

Get ready to scale your business and see an upward tick in your ROI because we will find the best talent and take care of your crucial functions while you work on your dream.

Gex Search,Recruiter,Gandhinagar,Gujarat