New hires. That phrase, today, is a conundrum. When a new hire starts, it is assumed that he or she will be sticking around for a while. They are, after all, new. Shouldn’t they give their recently acquired position a chance?
You would think so. However, a recent WorkTrends™ study revealed that two out of three new hires consider leaving within one year of their hire date. Furthermore, this study found out what keeps new employees happy as well as what pushes them away:
- Employee turnover rates decreased when new hires were given the basic training they needed to function in their new position.
- New hires feel that employee training and potential career growth are most important when starting a new job.
- Two out of every five employees are not receiving the basic training they need when starting a new position.
- Managers are distant from the basic training processing, believing their new hires are getting the orientation they need when they are, in fact, not.
- New employees feel that if there is no chance of fulfilling their career goals at their new workplace, they are 12 times more likely to leave.
So how can you expect to keep these new hires for more than a year, and hopefully, for much longer?
Invest in basic training for new hires. This is crucial. Not only are you investing in the new employees; you’re investing in the future and success of your company. When employees have the basic skill set that they need to effectively work in their new position, they have the confidence and know-how to perform to their highest potential.
With that the WorkTrends™ study revealed that the turnover rate decreased from 34% to 15% when new hire orientation included basic training. Additionally, new hires felt more invested in their new position when they received clear performance goals and feedback along with basic training.
Working toward this end with new hires also helps every level of the business. The survey stated that most managers believed their new hires were receiving basic training when they actually were not. With more investment in basic training, managers are able to run a tighter ship, trusting that their new hires are efficient and effective contributors to the team.
Create clear career growth paths and expectations for employees. Let’s face it, no new hire wants to start a job and soon find that it’s a dead end. New employees want to start a new job and see and experience the potential it has to offer for their long-term career.
If there is potential for growth in your company, make it evident. Provide clear cut paths for personal and professional growth by setting expectations, providing challenging assignments and rewarding valuable employees with promotions. It’s just one more way to invest in your new hires, making them much more likely to stick it out until they’re a valuable member of the team.
Do you know what it takes to keep new employees happy? What would you do if your newest hire suddenly wanted to quit? Leave a response below!
IMAGE: Courtesy of Flickr by Gigi Ibrahim