Award-winning consultancy stands out from the competition with the UK's only recruitment and retention service
Added by Love Business East Midlands | 14 October 2020
UPDATED: 14 October 2020
Macildowie Recruitment and Retention is the new name for the leading independent recruiter, a move which reflects the urgent needs of modern businesses feeling the impact of COVID-19.
The U.K. has almost 40,000 recruitment agencies, but a rebrand has positioned Macildowie as the only recruitment and retention consultancy in the country. This evolution of their service provides dedicated support to help businesses hold on to their best people, resulting in significant financial and organisational benefits.
The average national employee turnover rate (the percentage of staff who leave an organisation) is approximately 15% a year. When the average cost of replacing an outgoing member of staff is equivalent to 33% of their annual salary, poor employee retention is an issue that costs U.K. businesses millions of pounds a year.
Employee retention is such a common challenge that a Google search for the term will return over 146m results. Yet ‘retention’ is a word that most businesses would not expect their recruitment consultancy to advise on. Macildowie’s aim is to change this trend and demonstrate the decisive and costly link between recruitment and retention.
In 2008, Macildowie responded to the financial crisis by developing exclusive partnerships with clients based on shared values. This new recruitment and retention value proposition is a more sophisticated, relationship-driven service which includes a flexible pricing structure that can adapt to the needs of any business and a retention guarantee on all new appointments.
- Macildowie’s retention guarantee adapts to the needs and scope of each partnership
- Clients benefit from a free replacement of any candidate who leaves within 12 months
- Macildowie’s pricing structure reflects their commitment to each partnership, and is based upon the success of a candidate according to criteria agreed with the client
James Taylor, chief executive officer at Macildowie said:
“Our new focus on retention is a truly unique offering in the U.K. and is part of our goal to build a ‘cradle to cradle’ approach with businesses. The cost of failing to have a sustainable people strategy at the heart of your organisation is immense, and the most limiting factor to any business coming back from lockdown and looking to thrive in the future will be if they lose their best people.”
“Retention is a symptom of a larger affliction and you can’t treat it by increasing recruitment. As businesses we all need to treat our people with more genuine care than ever, which means building employee value propositions and employer brands that attract candidates who fit our organisations, and investing time, money and energy into upskilling and inspiring our people. It’s really very simple - happy people stay longer and perform better.”
“I confidently expect that our retention offering will result in more businesses wanting to work with Macildowie on an exclusive basis, and by following our ‘cradle to cradle’ approach, our clients will enjoy the significant benefits of successful scaling, improvements to employee engagement, increased profitability and the potential to win prestigious awards.”
Macildowie’s first step as a recruitment and retention consultancy has been to support businesses to create a re-onboarding experience for those employees returning from furlough. This included five live-streamed online events over the summer which were held in conjunction with the East Midlands Chamber of Commerce.
All events are available to watch online to anyone joining Macildowie’s Back to the Future of Work LinkedIn group, where visitors can learn more about the Furloughee Value Proposition and find advice on re-onboarding processes. The group is available at the following link: https://www.linkedin.com/groups/8965136/
The potential cost of losing an employee can be so high because it includes:
- The expense of advertising, interviewing, screening and hiring a new member of staff
- Recruitment fees if using an agency (typically 15-30% of the candidate’s salary)
- The cost of onboarding and training new people (a business may invest 10-20% of an employee’s salary in training over 2-3 years)
- The loss of productivity, as it can take 1-2 years for replacements to meet the performance level of their predecessor
- The cost of disengagement and subsequent lower productivity among other employees who carry the burden of a high turnover rate
- Errors or customer service issues, as new employees are less adept at solving problems and take longer to complete tasks
People may leave a business for a variety of reasons, but evidence suggests that there is a direct link between businesses with successful onboarding and engagement processes and improvements to staff retention:
- Organisations with strong onboarding processes improve new hire retention by 82% and employee productivity by over 70%
- Employees who are ‘engaged and thriving’ are 59% less likely to look for a job in the next 12 months
- 48% of people leave a job because it didn’t match their expectations, and 31% have left because the company culture didn’t mirror the promises that were made to them during the hiring process
Macildowie’s ‘cradle to cradle’ relationship with clients emphasises support across the entire employee life-cycle from offer to onboarding, development to promotion and beyond. In addition, this specialist service includes support for constructive outplacement activity.
Businesses across the U.K. who are concerned about succession planning, retaining their best people or successfully re-engaging and inspiring their people in a new world of flexible and remote working should contact James Taylor by email at jamest@macildowie.com or phone 0116 222 2590 to discuss the benefits of working in partnership with Macildowie Recruitment and Retention.
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