In today’s knowledge-based economy the skills and experience of top talent is critical if you want your organisation to stay ahead of the competition. Yet, at the same time attracting, retaining and getting the most out of employees has never been more difficult. Skilled staff are increasingly mobile, less loyal and more demanding of their employers. Low barriers to switching jobs means employees can pick and choose where they work.
This directly impacts the success of your business. According to CEB, 85% of the factors that influence an organisation’s growth involve talent in some way. Yet new joiners are just 50% productive after 3 months, 1 in 4 employees leave in their first year, often before reaching full productivity, and 1 in 5 hiring decisions is a mistake.
Against this backdrop how can you make sure you are attracting the right candidates, getting them up to speed quickly and ensuring they stay for the long term? The answer is to treat your employees more like your customers, and look at the employee experience across their journey. Take a joined up approach that listens to their feedback, uses the insight to monitor engagement and allows you to take rapid action to fix individual and company-wide issues as soon as you spot them. This allows you to attract the best talent, shorten ramp-up time and retain employees for the long term.
There are three key touchpoints to focus on:
1. Recruitment and entry
To compete in business you need to attract the best people, make sure that talented candidates don’t drop out of the recruitment process and guard against making the wrong hiring decisions. Listen to candidate feedback and use this insight to assess their fit, improve your processes and make timely individual interventions to keep the hiring process on track.
Employee onboarding surveys allow you to listen and act on the feedback of joiners, cutting the time to productivity for new hires and getting maximum value from your talent.
Employees who’ve had a positive hiring experience provide 15% more discretionary effort, according to CEB, and are 38% more likely to stay for the long term.
Look to find out why staff leave through employee exit interviews and use this insight to stop others following them out of the door. Analyse feedback to spot trends, improve processes and identify potential ‘at risk’ employees so that you can take preventative action to retain them for the long term.
There’s normally no single reason holding back new hire productivity or one event that causes them to leave. Negative experiences build up over time until a single ‘moment of truth’ tips the balance and causes them to leave. These warning signs are difficult to spot if you take a silo-based approach that looks at touchpoints in isolation. That’s why listening to feedback across the employee journey and measuring employee fit with the organisation gives a complete, consistent picture, meaning you can spot issues as they develop.
For individual problems, team managers can then intervene quickly to address concerns before it is too late, while at a higher level HR Directors can monitor trends and use feedback insight to fix issues for good, driving process improvements across the business. The result? Your company attracts the right candidates, gets them productive faster and ensures you retain them for the long-term. The impact on the bottom line is transformative – engaged and motivated employees deliver a better experience to customers, outthink the competition and come up with innovative new ideas, while hiring and replacement costs drop.
To support organisations with the real-time insight to understand, manage and optimise the employee journey Questback is launching Employee Touchpoint. A simple to use cloud-based feedback solution, it helps you listen to your people and receive early warning of potential issues across the employee lifecycle from recruitment to exit.
- By Luke Talbot