Up to a quarter of new hires leave within six months

 

Retaining new recruits is a key issue for the vast majority of organisations, with executives saying between one in ten and a quarter of new hires leave within the first six months.

This is according to a survey by the Futurestep division of Korn Ferry, which also found the most common reason for new recruits leaving is because the role is different to what the hiring process led them to expect.

Meanwhile, nearly one in five respondents said new hires leave because they don’t like the company’s culture.

Nearly all respondents (98%) said onboarding programmes are a key factor in retention efforts, and 69% said they have formal onboarding programmes for all employees. However, nearly a quarter said the programmes last only one day, and almost a third said they only last a week.

Bill Gilbert, president, North America at Korn Ferry Futurestep, said: “With low unemployment rates and increased need for specialised talent, keeping new hires is a critical issue. It’s incumbent upon recruiters and hiring managers to paint a clear picture of what will be expected of the candidate in his or her new role, and make sure promises of resources, job structure and reporting relationships are fulfilled.”

“Onboarding must be about more than just the basic administrative processes such as entering time, submitting paperwork and logging onto the intranet. It should be an in-depth process that introduces the new hire to company culture, vision and strategic priorities, and should also help new hires understand available development opportunities to help them succeed in the organisation.”

The survey also found that less than a third of respondents said their company surveys new hires about their experiences during the hiring process. Of those who do conduct surveys, more than half (52%) said they look at results on a regular basis to formulate and adjust hiring practices, 20% review results to help with retention strategies, and ten per cent use the data to troubleshoot when issues arise.

However, nearly a fifth of respondents said they don’t do anything with the data, even though they collect it.

Jonathan Brown, managing director, talent acquisition solutions EMEA at Korn Ferry Futurestep, said: “Especially for millennials, company culture is key to job satisfaction and companies must ensure they are correctly portraying the culture during the recruiting and onboarding processes.

“Many of today’s assessments provide a treasure trove of information about the candidates, such as their competencies, traits, drivers and experiences,” said Brown. “Based on the individual’s specific opportunities for improvement, Futurestep’s offering provides clients with customized development and onboarding plans for new hires.”

“Candidates are the best source for insight into the recruiting process,” said Brown. “Asking them how to make the experience better is an easy, direct way to enhance the ways companies source and attract the best and the brightest.”

The survey also showed that when asked about mentorship programmes for new hires, 98% of respondents said such programmes would help new hires acclimate to their new environment. However, nearly half do not have a formal mentor programme in place.

Tuesday, 28 March 2017

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