Millennials comprise the largest generation in the workforce in India. You’ve probably already hired Millennials and will be hiring more. But don’t expect them to stay long. Millennials are twice as likely as 30-somethings to leave a job after just 3 years, and this gap will only widen with age.
An average of more than 30% of employees in mid-level positions at tech start-ups and e-commerce firms quit their jobs every year, according to a recent survey by HR consultants and industry executives. For instance, a real estate giant recently announced that around 200 employees left the company last year resulting in closure of 4 of its business verticals including the land, franchisee, commercial and luxury real estate units.
Millennials leaving jobs for better opportunities elsewhere will keep happening. The attrition rate at mid-level positions ranges between 18% and 32%, while at the junior level it is around 40-50%, quoted HR professionals.
What all this means is that as most of these millennials chase better opportunities, leaving their ex-employers with a task. Finding time to provide reference checks and verification of their credentials to their new hiring employers. There is no complied data to establish the number of requests the HR executives receive regularly but whatever the number be, the process will be time consuming and highly unproductive.
Nonetheless someone needs to do it anyway. Not just ex-employers but it also presents a challenge to their new employers. They would want to on-board them as soon as possible but without verifying their employment history, they would not risk allowing them to be part of their system because of security and safety concerns.
So what is the possible solution to this if there is a delay in verifying the new hire credentials?
A solution that instantly verifies or provides information about this candidate that is secure and authentic. Because no one would want to wait and waste their productive time, not the new company, not the old one and especially not the new hire.
WorkAttest, an expert offering from AuthBridge a composite exit employee repository, provides timely and accurate verifications to potential employers, employees and verification agencies. It is a highly secure online service that keeps all the data confidential and safe. It provides fast, secure and instant verification. Prospective employers and verifying organizations can validate the employment credentials of individuals who are either seeking a job, or marriage prospects or are applying for loans, memberships etc.
Reaching out to multiple employing organisations is a time consuming, manpower intensive and error-prone exercise. So what would you like to do, waste productive time of your manpower or contribute your exit employee data to WorkAttest and use that time for productive activities instead.
The choice is yours!