Inspiration behind TalentDrain

In the UK, organisations spend billions of pounds each year attracting, recruiting and developing their staff. However, research consistently reports:

• 1 in 4 new recruits will resign in the first six months
• 1 in 5 employees will resign this year
• Over 50% of people recruited into an organisation will leave within two years
• 3 in 4 organisations are experiencing employee retention difficulties.

Despite such dramatic statistics, there seemed to be a surprising lack of support available to the HR community to address this problem. TalentDrain was created in 2003 to fill this niche. The founders of the business had all worked for many years within the occupational psychology and testing arena, most notably at SHL (Saville & Holdsworth). At SHL much of their time was spent helping organisations to perfect the process of assessing applicants suitability for employment. Whilst working with organisations in this way it became apparent how frustrated HR Teams felt about the constant treadmill of recruitment and the lack of focus given to retaining staff who had taken so much time, energy and money to recruit.

Our idea was to help organisations reduce undesirable staff turnover using a unique range of innovative products focussed solely on retention. We firmly believe that action based on accurate diagnostics and enhanced understanding would confer on our clients a substantial competitive advantage in terms of HR capital (and ultimately profitability).

Today

At present the majority of employers spend vast amounts of time and money recruiting new staff but very little on retaining these expensive and often talented people. However, the last few years has seen a significant number of notable organisations begin to focus on reducing attrition and developing strategies to improve the retention of key talent.

We are fortunate to count these organisations as clients. To view some of our client’s experiences please click here.

Future

Our ultimate objective is to support HR teams in shifting the recruitment focused paradigm resulting in a balance of investment between recruitment and retention. As this shift occurs then organisations start to see the tremendous benefits in reducing unwanted turnover and retaining their talent.