If first year turnover is hurting your organization, reach out to learn more about how Work Institute can help your organization retain your early tenure team members.
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 have not generated any return on the investment you’ve put in during their recruiting, hiring, onboarding and training.
How We Help
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.
Our high touch, deep dive interviews generate actionable feedback throughout the employee lifecycle. Onboarding interviews conducted around the 30, 60 or 90 day mark provide feedback around how the onboarding process 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.
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 have occurred and are having the desired effect.
Parkview Health 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 asking and listening to their feedback. Parkview utilized Work Institute’s exit interviews with nurses who exited in the first year 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 within the first year. 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. View the case study in its entirety here: Parkview Health case study