December 12, 2017
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. But new research suggests that nearly half (45 percent) of job candidates have turned down a position because they weren’t impressed by the company during the interview process. According to the research by NGA Human Resources other common reasons for declining a position include having a better offer from another company (56 percent), lower than expected salary offer (49 percent) and finding out the role was not as originally described (44 percent). Modern job seekers are now looking for more than just a decent salary. In fact, 33 percent of candidates have declined a position because they didn’t have flexible work options, 29 percent due to the lack of a good benefits package and 27 percent 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 percent. Today only 31 percent 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 percent), dissatisfaction with company culture (27 percent), poor onboarding (18 percent) and clashes with colleagues (17 percent).
“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.”