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87% Of Businesses Face Roadblocks In Onboarding Trained Talent: Wiley’s Survey
“The mthree survey points to how graduate and entry-level talent recruitment and onboarding is a herculean task. It requires a copious amount of energy, dedication, and time and does pose its own risks"
Wiley’s Talent Development service- three the emerging talent and reskill training partner for public and private organizations across the globe, recently surveyed 504 business leaders as well as 1,006 professionals based in the U.S. and belonging to the age group between 21-28 years, to gather insights about the organizations' recruitment and onboarding processes. These included various challenges and risks associated with the arduous exercise of sourcing, recruiting, interviewing, onboarding, training, and retaining new talent.
- Statistics related to Recruitment & Interview Inefficiencies
Recruitment Challenges | Sourcing Talent | Interview Processes |
87% of businesses face challenges when it comes to recruiting replacements for departing employees | The go-to recruitment method for 61% of those surveyed is listing adverts, online job boards | 64% have senior executives conduct interviews for graduates |
34% share that they struggle to replace departing employees before the end of their notice period, and 31% face issues while finding suitable replacements | This is followed by posting paid and organic social media posts - 42% and 44% respectively | 45% interview prospective junior employees more than once |
30% constantly face roadblocks of one or more roles unfilled at any given time | Additionally, in-house recruitment managers, print advertising, external recruitment consultants, recruitment fairs, graduate programs, etc. are also used depending on business needs | 47% are interviewing six or more candidates, and 20% are interviewing at least 10 |
- Statistics related to the Onboarding Process
Training Expenditures | Impact Metrics | Training’s Impact on Business |
62% surveyed offer a structured, rotational internal training program | 32% predict that it takes between four to six months for the recruit to become a part of the organization | 36% witness productivity dipping issues due to the allocation of resources for recruitment and training |
55% offer training via managers whereas 38% rely on external training providers. The time required for training can vary from one week to even two months. | Another 32% share it could take seven months to a year for the new talent to add value to the organization | 29% had to impact their operations due to the internal talent crunch |
Every training method comes with its fair share of added expenses | 81% feel the need to provide additional training to the junior resources for various reasons | 21% state that their cash flow was disrupted due to the recruit's training |
- Statistics related to graduate retention and relevance of work culture
Graduate retention | The relevance of work culture | The impact of work culture on graduate retention |
Sticking to one company for a long duration is no longer the cultural norm for graduate employees | 47% state that company culture is the paramount factor for employees while deciding to accept the new role | 69% share that they have regretted joining a business after discovering its work culture |
22% share that a whopping 51%-100% of graduate employees usually leave within 24 months (2 years) | 40% feel that work culture is an important point of consideration for employees while accepting the new job role | 31% have left jobs within less than a year and 18% have left within six months due to the culture not being as was expected |
Shedding more light on the relevance of the survey in the present context,
Ms. Archana Jayaraj, Director, Partnerships and Talent, APAC, Wiley’s mthree said, “The mthree survey points to how graduate and entry-level talent recruitment and onboarding is a herculean task. It requires a copious amount of energy, dedication, and time and does pose its own risks. Organizations therefore need an alternative and complementary source of graduate talent that takes care of the risks and all the effort – that’s where our Talent Development service-mthree comes in. Our Alumni offering focuses on custom-trained emerging talent. Through the hire-train-deploy model, we place outstanding graduates into a client’s team for 12 to 24 months, after which they can be converted to full-time employees at no extra cost.
“We work with more than forty institutions across the globe through our hire-train-deploy and reskill solutions. The APAC region, especially India is a strategic market for us. Diversity and Inclusion is at the cornerstone of Wiley's three Alumni program. We put a special impetus on democratizing education and provide equal opportunities for everyone to realize their true potential and dreams. We currently have 350+ of our Alumni graduates on-site across Fortune 500 Companies in India. Going forward we will stay committed to our two-pronged objectives- collaborating and partnering with institutions worldwide and helping them navigate challenges and risks associated with onboarding and retaining skilled graduate and entry level talent; and supporting that talent in starting their dream careers at global organizations.”
