Recruiting new talent for your company is no cheap or easy endeavor. In fact, for many companies with small hiring budgets, one hire can easily exhaust their entire budget.
Our recent report confirms, with the average cost-per-hire as high as $2,000 for companies with hiring budgets between $1,000-5,000, it’s critical new employees are prepared to stay.
With opportunities everywhere during this period of record low unemployment, it’s increasingly more common for new hires to quit right out of the gate. The good news is, you can stop talent loss by understanding the top reasons new hires leave and proactively fixing the system. Here are five reasons your new hires may be calling it quits:
1. Company culture isn’t what they expected
Attending an event and feeling out of place is an uncomfortable experience. Now imagine that feeling eight or more hours each day. It’s no wonder new hires that don’t have a strong grasp of the company’s culture before coming on board are more likely to quit within the first month. Remarkably, for 44 percent of job seekers in a 2019 CareerBuilder study, company culture is even more important than salary.
Make highlighting company culture a foundational part of the recruiting process. Focus on producing videos that feature an accurate and genuine behind-the-scenes look inside your company.
This could be as simple as employees chatting about why they love their roles or what makes the company a match for them. You could even feature team-outing photos at special work-related social events or volunteering on your social media and careers website.
2. They feel unsafe in the workplace
Feeling safe and secure in the workplace is indispensable to employee success and retention. If new hires aren’t fully versed in policies and procedures, they may feel unsafe and seek out new opportunities instead of following appropriate protocol to find an internal solution.
Not surprising, 71 percent of hiring professionals in a 2019 Global Talent Trends survey say anti-harassment policies play a big part in talent acquisition, but only 37 percent highlight the policies during the hiring process.
Turn new hires into tenured employees by keeping them well-versed in updates to policies, especially those that impact their safety and well-being. Make their connection to managers and human resources as comfortable and seamless as possible at all times. This could mean setting a check-in with HR a few weeks after their new hire date to establish a good relationship and an open line of communication.
3. They weren’t given the necessary training to succeed
Whether entry-level or upper-management, the investment placed on training new hires makes or breaks even the most skilled candidates. Without proper training, new employees feel lost, inadequate, or even cause profit loss due to under or poor performance.
Designate mentors to onboard and train your new employees. This will provide a personalized, hands-on approach to ensuring they engage and thrive in the first months. The combination of the basic skills they need to work effectively in their new position and a place to turn for immediate answers and assurance gives new employees the confidence and know-how to perform to their highest potential.
4. The role wasn’t what they thought it would be
Outright deceit is never the intention of companies. Yet all too often, candidates are sold a dream job that doesn’t pan out. In fact, according to the 2018 Recruiter Nation Survey, 43 percent of employees report their day-to-day role wasn’t what they had been led to believe during the hiring process.
It’s crucial candidates are provided a clear, consistent, and honest description of the role they will fill from recruiting through hiring. Produce short video clips featuring individuals who performed in the role with their account of the day-to-day responsibilities to post along with the job description. Or introduce managers the new hire would be communicating with daily to answer questions about the role during a live video interview.
5. They don’t see a future in which they’ll reach their career goals
If a new job feels like a dead end, new hires will have no reason to commit for the long haul. Ambitious new employees will be quick to call it quits if there’s not a clear career growth path for a long-term stint with the company.
Make the full growth potential of your positions evident to new hires. Assess what their individual goals are in their career and with the company. They may want to reach for a new certification or degree, bigger salary, or even see clear potential for mobility into another department in the future.
Map out a plan to help new hires feel confident they can reach their goals. Be sure to show how frequent assessments and goal-setting meetings help determine the best way to continue down their path toward greatest success.