A recent study published by Society of Human Resource Management includes some shocking attrition statistics:
- Nearly 4 percent of new employees leave their new jobs after a disastrous first day.
- A significant percentage of new employees quit their jobs within the first 6 months.
- Half of all new hires in leadership positions last three or fewer years.
- New employees decide within the first 30 days whether they feel welcome in the organization.
- 1 in 25 people leave a new job just because of a poor (or no) onboarding program.
- 40 percent of senior managers hired from the outside fail within 18 months of hire.
With the cost of recruiting, onboarding, training, and replacing personnel, the financial benefits of continuous performance management are staggering. While job mismatches and job-hopping are taking their toll, statistically most employees leave because they are unhappy or unfulfilled. And for better of worse, those issues are tied directly to supervisor-employee communication.
To learn how iRevü is transforming the performance management industry, email us at firstname.lastname@example.org.