Despite this, a 2020 Resourcing and Talent Planning Survey, also carried out by the CIPD, found that only 15 per cent of respondents anticipated an increase in their recruitment budget for 2020-21, with 32 per cent anticipating a decrease in their talent management budgets. The survey also found that few organisations collected good quality data for informing their resourcing decisions, with only 19 per cent measuring the return on investment of their recruitment processes.
These figures indicate a continuing theme amongst organisations – a low awareness of the hidden costs, with many living in a perfect world where new recruits are happy, effective and willing to stay long-term.
In a Consensus HR initiative that pre-dates the pandemic, we provide induction and performance review packages, tailored to the needs of the new recruit, combined with the requirements of the employer. The essential need for these types of initiatives is reflected in the recent findings of a CV- Library survey.
It was revealed that 12 per cent of people had been dismissed during a probation period. When asked why they were dismissed, the top reasons were poor performance (27 per cent), the company being unable to keep them on (22 per cent), or being the wrong fit for the company’s culture (20 per cent).
The vast majority (86 per cent) of respondents to the CV-Library survey believed probation periods are a good idea, with 49 per cent saying they allow companies to ‘test the waters’ with the new employee, though the concept of a probation period has no legal basis. Just over half (56 per cent) thought that both employers and employees benefit equally from probationary periods.
In discussing our past recruitment initiatives, Matthew comments; “In the past, we developed a comprehensive 3 monthly induction / performance review process for new employees to ensure they are developed adequately in their new role and given the opportunity on a regular basis initially to discuss their performance, and identify any areas that need to be addressed during their probationary period.”
Regarding the success of them, Matthew continues; “We have found [the initiative] to be very beneficial to businesses, with a reduction in turnover. We also assisted one of our clients in a racial and discrimination case where awards are unlimited and ability for an employee to bring a claim from day one of employment prevented / managed. This also makes [the employee] feel valued and not just a number as their induction is written specifically for them. It is also down to them to tell the employer in a constructive recordable manner what support / development they require to be successful in the role.”