Hong Kong firms losing new staff during probation
New independent research commissioned by specialised recruiter Robert Half revealed more than half (54%) of Hong Kong financial employers surveyed have had a new employee resign during their probation period due to poor onboarding processes.
Almost one-third (35%) cited losing an employee during the first month because of it.
In Hong Kong’s competitive employment market, business leaders acknowledge the importance of hiring the best talent. Despite many finance leaders’ statement about losing staff because of a poor onboarding process, many have evaluated their onboarding programs to meet expectations.
According to the survey of 150 Hong Kong finance leaders, almost half (47%) believe their current onboarding process is “good”, while one in 10 (10%) state their onboarding process is “excellent”, and 34% say it is “sufficient”.
This suggests a possible disconnect between employers who think they have an efficient onboarding process, and employees leaving the organisation due to a poor onboarding process.
Additionally, it reportedly takes an average of 5.5 months for new employees to gain a level of proficiency where they can independently and successfully manage their responsibilities.
Having a well-developed onboarding program plays a role in helping an employee reach their full potential. Organisations without a proper onboarding program exposed to greater productivity risks, as it then takes longer before their new employees reach the same level of proficiency as their seasoned colleagues.
“The recruitment process doesn’t end the moment the employee signs the contract,” Adam Johnston, Managing Director of Robert Half Hong Kong said.
“New employees need to feel welcome and a part of the team from day one if employers want to successfully integrate them into the company.”
“Whether it’s hosting a team lunch for your new hire or providing them with the necessary tools and guidance, making the right moves in the early days of the employee’s tenure can empower them to do their job to the best of their abilities. This will not only ensure higher retention rates for Hong Kong employers, but also help the new employee to start delivering results early on,” added Johnston.