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TACKLING THE PROBLEM
Preventing First Year Turnover
Over one-third of newly hired employees quit within their first year. 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. If you want to identify the reasons for employee turnover in the first year and address them, get in touch with us.
How We Identify First Year Turnover Causes
First impressions are lasting impressions. Employees quickly make judgements about employers during the initial days and weeks of their employment. Getting feedback from employees quickly in their tenure uncovers any deficiencies in the onboarding and training process of new employees. This is one of the primary reasons for high turnover rate for first-year employees.
Proof We Can Identify and Help Prevent New Hire Turnover
At Parkview Health, one out of every three nurses hired left within the first year. This turnover rate benchmark was costly and affected the quality of care they provided to their patients.
They started to understand 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, they understood the challenges their nurses faced. 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 behaviors had to change 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: