Why 46% of New Hires Fail
May 04, 2022
Hello and welcome to Episode 112 of the People Powered Business Podcast!
Today we’re unpacking a staggering statistic – that is that 46% of new hires fail! That’s right – almost half of all new hires don’t make it through their first 18 months.
Now that’s a shocking number at the best of times, but in an environment where businesses have resorted to ‘panic hiring’ due to the lack of applicants in the market, it becomes even more concerning that there is a higher chance you’ll find yourself in this situation.
In today’s episode I share the 3 magic ingredients you need to ensure successful hiring decisions and be on the right side of the numbers. It really is this simple, and comes down to 3 key things:
- Creating the right role;
- Hiring at the right time;
- Finding the right person, someone that has the skills, motivation and is a great fit.
Without all 3 it’s pot luck at best – so they are really important ingredients to consider.
Also mentioned in today’s episode were some previous episodes of the podcast.
The first was creating your organisational structure by doing the Clean Slate Exercise, you can check out more on that here - https://media.whooshkaa.com/show/11485/episode/714868.mp3
The second was the importance of Position Descriptions. You can learn more about creating Position Descriptions here - https://media.whooshkaa.com/show/11485/episode/788029.mp3
An Invitation
Would you like to connect with other like-minded business owners, leaders and managers experiencing similar situations with their team? Join the discussion inside our free Facebook Group – HR Support for Australian Businesses.