Finding the right employee for your company can be tough. Keeping them can be even tougher.
According to a study by Leadership IQ, 46% of new hires fail within the first 18 months. Knowing what leads to these results can help you better understand how to retain your top employees.
Many new hires don’t work out simply because of the interview process. It is important for both the employer and the candidate to be real throughout the process. While candidates should work on being honest and realistic about their skill sets, interviewers should also be honest and realistic about the job requirements and the company as a whole. Many new hires leave after they discover that they’re not doing what was promised in an interview, or that the company does not live up to the expectations set during this process. Be as real as possible and keep any promises made during the interview.
Another reason employees may not last is not due to lack of technical skills, but soft skills. In fact, 15% of new hires fail because their attitudes and personalities don’t match with the company. However, coach-ability is the number one reason why new hires fail. Many employees simply lack the ability to accept feedback from colleagues and employers. This is something employers can look for during the interview process in order to ensure that the candidate is the right fit.
15% of new hires fail because their attitudes and personalities don't match with the company.
Many employees approach a new job with the mindset that if it doesn’t work out, they can simply find something better. The way to combat this is by determining whether or not they are the right fit during the interview process, then selling them on that. Show them the value of the company right away and make them view working for your company as their dream job. Follow through with what was said during the interview and make sure both you and your new employee are on the same page.