5 Employee Development Stats That Will Scare You (in a Good Way)
Hiring new employees comes with a mix of emotions and pressures. Emotions? We’re talking nerves: You finally found the perfect candidate for the job; they’re talented qualified, and personable! Pressure? We’re talking night sweats!
You want to retain this new talent, but you aren’t so sure your employee development processes are sturdy, innovative, and attractive enough for all of the bright young things. Sure, you think your employee development efforts are substantial, but your tactics haven’t been refreshed in a while.
Now is the time to fine-tune your employee development processes, and we’ve got five great stats to scare you into doing just that:
Stat No. 1: More than 73 percent of organizations say that their main reasons for changing up their onboarding programs are to amp up new employee performance, improve retention, and boost employee dedication.
This is according to a survey from Impact Instruction Group, which also found that roughly one-third of people who have been in their roles for less than six months are already searching for new jobs.
Don’t Be a Statistic: Set clear goals to improve your onboarding process by including detailed instructions and goals for your new hires. Make sure the onboarding process contains key takeaways and next-steps for the employees.
Stat No. 2: 40 percent of employees who receive poor job training leave their positions within the first year.
Investing in a constructive and thorough employee development program essentially means investing in new creative horizons for your company. New talent can bring an exciting edge to your company, giving you a leg up on your competitors. To keep this new blood, welcome them to your company with a smooth onboarding and employee development process.
Don’t Be a Statistic: Send out a survey asking current employees what they did and did not like about their onboarding experiences. Gather the results, and then use them to make improvements. Don’t send this survey to employees with less than six months’ tenure at the company. They may be too “fresh” to share their real, unvarnished views.
Stat No. 3: 22 percent of employee turnover occurs within the first 45 days.
According to Sabrina Son of TINYpulse, “Companies that provide on-the-job training are giving new hires a life jacket to stay afloat. It teaches these workers the ins and outs of the organization’s culture and workflow. So giving employees a manual to read on the first day and expecting them to go head-on into work the next day is just wishful thinking.”
Don’t Be a Statistic: Once you have explained your company’s processes and norms to your new hire, stick around for questions. Don’t just slap a manual on their desk; play an active part in the new employee’s experiences with the company.
Can’t find time in your schedule to squire every new hire around? Institute a mentorship program.
Stat No. 4: Research says that more than 70 percent of on-the job learning happens informally.
While informal learning can be great – and a highly welcomed surprise in most workplaces – it should not be the primary method through which an employee learns.
Don’t Be a Statistic: Invest in strong onboarding software. Automating paperwork will keep the new employee’s first day stress- and worry-free, and it gets the boring stuff out of the way so the new hire can focus on learning the ropes of their position.
Stat No. 5: The average company will lose 60 percent of its entire talent base within four years.
Preparing for your new hire will show them you value their time – therefore enticing them to stay. Put in some prep work, whether that means getting a workspace ready, printing out a name badge, or clearing the morning meeting for introductions.
Don’t Be a Statistic: Check in with new talent on a regular basis. Be available to answer questions. Be nothing if not over-communicative and friendly. While this seems like a no-brainer during an employee’s first year, make sure you keep it up as your new employees become your everyday employees and start climbing the corporate ladder.
After all, you took the time to source, recruit, interview, hire, onboard, and train this person – do you really want to lose them and become a statistic?
A version of this article originally appeared on the Click Boarding blog.
Christine Marino is the chief revenue officer of Click Boarding, LLC.