Out of the last ten strategic hires your business made, how many are still in position, or do you expect to be in place after their first 12 months?
When I ask this question, the majority of senior stakeholders say around 7.
They initially feel that this is a good number: 7/10 or 70%.
But flip that on its head for a moment.
That means they have a 30% FAIL rate of strategic hires within the first 12 months of working for their company.
I tend to follow up with…Why did those three people leave or fail?
The answer tends to come down to behavioural reasons rather than skillset, so along the lines of culture fit, attitude, performance etc.
If someone leaves within the first year, it costs businesses on average 3x their salary (cost of rehiring, retraining, damage to internal morale, damage to EVP etc.)
So, I’d like to think you’ll agree with me that it’s best to reduce risk and get it right the first time!
Ask yourself…Out of the last ten strategic hires your business made, how many are still in position, or do you expect to be in place after their first 12 months?
If it’s not 10/10, then there’s room for improvement. I want to show you how.
Book a call with me here.
- Perfecting Your Channel Mix & Curating Culture with CMO at Molo Finance, Dennis Volkmann – Episode 13
- How To Nail a Competency Based Interview
- Killer Interview Questions, Leadership Lessons & Females in FinTech with SO-SURE’s CMO, Nicola Vidal – Episode 12
- Would a Signing-On Bonus Help You Land Your Perfect Marketing Hire?
- What’s Your Success Rate In The First 12 Months?
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