46% of new hires fail within 18 months.
More than 20% of workers have changed careers in the last 12 months.
Only 19% of those will succeed at or above the expected level in their new job.
Studies put the cost of turnover at 3-5x salary.
If you’re leading an organization these are remarkably difficult odds to navigate.
So what can you do to best the trend?
Your Hiring Process – Does it assess for:
1. Growth Mindset vs. Fixed Mindset?
2. The ability to reflect vs. deflect?
3. The ability to execute in spite of obstacles?
Do you ask this of your candidates and of their references?
Your Onboarding Process
1. Day 1
2. Week 1
3. Month 1
Do they have their schedule? Do they know who to seek out to ask questions?
Your Development & Growth Process
The talent you’re looking for might be hiding inside already. Do you have a way to identify those individuals and help them blossom?
1. Growth Meetings every 3-6 months
2. Support the whole person and the seasons of their life.
There is a reason the head of People sits in the 2nd chair in most tech companies. The most important decisions you make all link back to who you hire, fire, tolerate, and promote.
Feb 26, 2022