Wednesday, 13 December 2017

Organisations need to pull out all the stops to secure and keep first choice candidates.

Almost half (45%) of job candidates have turned down a position because they weren’t impressed by the company during the interview process. This is according to employment research by HR and payroll solutions expert NGA Human Resources.

With employment at record levels and the labour market the fiercest it’s been for years, candidates have more choice about where they work than ever before. This is putting substantial pressures on companies to impress talented individuals through the entire recruitment and onboarding process if they want to keep them for the long term.

Other common reasons for declining a position include having a better offer from another company (56%), lower than expected salary offer (49%) and finding out the role was not as originally described (44%).

Moreover, modern job seekers are now looking for more than just a decent salary. In fact, 33% of candidates have declined a position because they didn’t have flexible work options, 29% due to the lack of a good benefits package and 27% because they didn’t feel they would fit in with their new colleagues.

Although more companies are investing in recruitment, this is sometimes completely undermined by a weak onboarding process. A structured onboarding process is proven to increase staff retention by 58%. Today only 31% of employees stay past the first year at each job throughout their careers. Reasons why new employees have moved on within the first year include unhappiness within the role (39%), dissatisfaction with company culture (27%), poor onboarding (18%) and clashes with colleagues (17%).

“In today’s job market the power lies firmly in the hands of the job seeker – they now have the pick of the bunch with opportunities,” said Anna Dickson, Talent Management Specialist at NGA Human Resources. “Firms must react by investing in the recruitment and onboarding processes. This means having the right technology and tools to implement an efficient, honest and professional approach to recruitment and a tailored, thorough and structured onboarding programme. Getting employees integrated and up to speed quickly, boosts productivity and job satisfaction, both of which increase the chances that they’ll stay at the company for the longer term.”

This article was originally published on OnRec.

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