A third of firms had employees resign in their first month.
Half (54%) of financial employers in Hong Kong admitted to losing employees on probation period due to unsatisfactory onboarding processes, according to a survey by HR consultant Robert Half.
In fact, a little over a third (35%) of employers cited that they lost an employee in the first month, marking an alarming statistic on long-term talent retention in manpower-short Hong Kong.
“New employees need to feel welcome and a part of the team from day one if employers want to successfully integrate them into the company,” Adam Johnston, managing director of Robert Half Hong Kong said in a report. “[M]aking the right moves in the early days of the employee’s tenure can empower them to do their job to the best of their abilities.”
The survey added that it takes an average of 5.5 months for employees to gain a level of proficiency where they can sufficiently manage their responsibilities with little to no supervision.
Despite the drawn out nature of the onboarding process, chief financial officers (CFOs) believe that their onboarding programmes meet expectations with 47% hailing their scheme to be 'good' and 34% claiming it is 'sufficient.' “This suggests a possible disconnect between employers who think they have an efficient onboarding process and employees leaving the organisation due to a poor onboarding process,” the report said.
Companies are therefore urged to plug gaps in their onboarding processes to mitigate the financial costs of losing staff members which includes lost productivity and impact on team morale.
“This will not only ensure higher retention rates for Hong Kong employers, but also help the new employee to start delivering results early on,” added Johnston.
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