The challenges of recruitment are reasonably acknowledged by most executives: building an attractive employer brand and value proposition, planning effective sourcing strategies, defining the right job profiles, attracting the right talents, designing an enticing compensation and benefits package, and finally, assessing and selecting the matching candidates.
Assuming all these steps go well, and the selected candidate eventually agrees to the employment terms, there might still be a bumpy road ahead. Even when you have a great on-boarding process in place.
In many companies, recent research demonstrates that more than 30% of new hires quit within 90 days, while many new hires are terminated or quit within the first year of employment. If you want to avoid a large portion of your hiring budget going to waste, we can think of 3 reasons why you need to closely monitor your rookies.
1. A yes is not a yes
Remember those movie scenes where the bride is about to say yes to the groom, or vice-versa, and one of them bails out at the last minute? Job seekers have preferences and options. A typical example is the “Plan A – Plan B” strategy: a job seeker will agree to take a “plan B” position whilst continuing to look for a better option either within or outside their current organization – plan A. If plan A actually materializes, they might well be tempted to opt out of plan B.
2. Don’t over-promise
If you have spoiled your candidate with a glittery narrative during the recruitment interview, make sure you can live up to it once your new joiner starts work. First impressions matter both ways. New recruits will observe and assess whether what they have been told and sold during the interview is true to reality. If it is not, the expectation gap might lead to a disappointed early leaver.
3. Who is behind the new face?
A CV, a few hours of interview time and some tests will not really tell you who is behind the person you are hiring.
Surely most new joiners will sign up for the right reasons. But in sensitive positions, there is a risk that illintentioned individuals may cause damage to your Company. For example, through data theft, password appropriation, or social chatting that would be detrimental to your Company’s image. Unlike certain civil servant applicants, candidates for corporate jobs are rarely undergoing security checks. You might therefore consider putting legitimate control mechanisms in place once they have crossed your doorstep.
At adVeci advisors, we have developed a specific post-hiring process, which extends 12 months beyond the date of employment. We conduct regular, in-depth performance and motivational interviews with new joiners. This helps us detect and address any challenges upfront. We coach new employees and their employer with a common goal in mind: make sure expectations of both parties are met – so nobody runs away too early!
