When you have vacancies to fill, it can be more than simply an inconvenience in terms of teams being down a member or two of staff and having more work to do. Finding the right people for roles, especially life sciences vacancies that require specialist training, can be a challenge.
But now one organisation has carried out research that shows just how much it’s costing firms who hire the wrong people for a job and subsequently lose them within a year of offering them a job.
OnRec recently shared the findings of a report by Oleeo, which revealed that companies with up to 250 employees are losing 14 per cent of their staff each year. What’s more, 39 per cent of their new hires leave within six months.
As a result, SMEs are spending an estimated £125,347 a year on recruitment that doesn’t pay off.
There are a number of issues with recruitment that are costing employers not only money but also talented staff. Among them are time delays during the recruitment process, poor communication with applicants and a bad online user experience when people are applying for roles.
The news provider explained that candidates who don’t have any concrete information from a prospective employer will consider other offers, and may well take one, if you’re not fast enough to go back to them with your own offer of employment.
Failing to understand people’s career aspirations, and then providing them with the opportunities to progress towards them, is another of the other issues identified by the publication.
One of the most important things for businesses to do is “focus on better candidate engagement in a digital era that demands continuous interaction”.
However, as a business that can be difficult to do, especially if you only have a small HR team. Working with a specialist life sciences recruiter could take much of this pain away and mean that candidates are kept engaged and informed without your HR team having to provide all of the resources.
When it comes to attracting the workforce of the future, namely those who are currently studying life sciences subjects at school and university, Study International recently offered some advice.
The publication revealed that one of the keys to keeping youngsters interested in the field is to give them opportunities to work on applied research projects while they’re studying. Universities should be forging links with businesses, as well as conducting their own research work, to allow this to happen.
It highlighted how the University of Sussex is encouraging students to get involved in research that has an impact in the real world. As well as engaging with projects during term time, they’re encouraged to undertake summer research placements too. This can help them develop valuable skills, as well as giving them work experience.
The news provider commented that this allows students to “gain an in-depth knowledge in their area of life sciences and become skilled in laboratory work and data analysis”.
As an employer, you need to make sure you clearly show applicants how they can develop their skills and progress their careers with you. This will not only help you attract them in the first place, but ensure that they stay working for you in the long term.