As per an independent research commissioned by specialized recruiter Robert Half, around 54% of Hong Kong financial employers surveyed have had a new employee resign during their probation period on account of poor onboarding processes.
About 35% cited losing an employee during the very first month because of it.
The survey which reached out to 150 Hong Kong finance leaders found that almost 47% believe their current onboarding process is “good”, while 10% rate their onboarding process it as excellent, and 34% deem it sufficient.
This points out to a possible disconnect between employers who think they have an efficient onboarding process whereas employees are leaving the organization due to a poor onboarding process.
Adam Johnston, Managing Director of Robert Half Hong Kong stated, “The recruitment process doesn’t end the moment the employee signs the contract. 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.”
He added that be it hosting a team lunch for a 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, thus ensuring higher retention rates for Hong Kong employers. It will also help the new employee to start delivering results early on.
The importance of having a well-developed onboarding program in order to help an employee reach their full potential cannot be stressed enough. Organizations which do not have a proper onboarding program make themselves vulnerable to greater productivity risks. The survey clearly points out that many Hong Kong firms need to up the ante to reduce losing employees in the very first month of probation. In a competitive employment market such as Hong Kong, this calls for an immediate need for employers to evaluate their onboarding programs to meet expectations.