First Year Turnover
Tackling The Problem
Preventing First Year Turnover
Over one-third of newly hired employees quit within their first year at an organization. This not only creates a revolving door of employees burdening your talent acquisition team, it’s expensive. Studies show the time it takes to get a new employee productive can range from as little as eight months to two years. New employees leaving your organization haven’t generated any ROI on the investment you’ve put in during their hiring, onboarding and training.
How We Help - Step 1Gather Employee Feedback The first step in curtailing First Year Turnover is listening to your new employees by implementing a Voice of the Employee feedback during the early employment stages. These conversational interviews uncover details about their recruitment, onboarding and training experiences to identify deficiencies in the early stage experience. Additionally, exit interviews should be completed with all first-year terminations. Your assigned workforce expert will work with you to determine what studies to launch within what timeframes in the employee lifecycle.
How We Help - Step 2Deep Dive Interviews Our high touch, deep dive interviews generate actionable feedback throughout the new employee lifecycle. Onboarding interviews conducted around the 30, 60- or 90-day mark provide data about how the onboarding process has or is going and what risk factors exist that may cause them to leave. Stay interviews with current employees later in their first year of tenure (6 to 12 months) provide data around how employees’ perceptions may have changed from when they started and begin to identify when the turnover risks begin. Exit interviews with former employees who left within the first year of employment reveal the real reasons why they decided to quit. The insights from these interviews allow organizations to understand what can and should be improved to get employees to stay longer.
How We Help - Step 3Make An Action Plan Your assigned workforce expert will work with you and your team in unpacking the results and determining action plans moving forward to help address whatever opportunities are found. Quick and simple pulse surveys are used post-study to ensure the interventions that have occurred are having the desired effect.
One of our healthcare system partners realized that one out of every three nurses they hired left within the first year. This turnover was costly and affected the quality of care they provided to their patients.
They started understanding why employees left within the first year by simply listening. Using Work Institute’s exit interviews with former employees to fully understand what caused them to quit and what the organization could do to improve.
After capturing the Voice of the Employee, the organization’s leadership was able to review and analyze the critical data as to why the nurses quit. The key findings in these interviews were:
- Pay was not the number one reason nurses left
- Expectations for the job was the number one reason for leaving
- The onboarding process needed to be improved
- Leadership needed to be realigned in specific areas to be able to better retain nurses
Based on these key findings, changes were implemented that resulted in a 33% increase in “Excellent” ratings for onboarding, 36% decreases in “Poor” ratings for onboarding, and an overall 36% decrease in First Year Nursing Turnover.