Ryan FowlerA recent survey conducted by Project Brains reveals that half of new hires in UK SMEs leave or require significant support within a year, highlighting inefficiencies in the hiring process. Project Brains, an AI-powered Fractional Work platform, found that 16% of new employees exit or are dismissed within 12 months, and 35% need close support to enhance productivity.
Balram Pal, director at Project Brains, reflects on the survey’s implications: “These are all indicators of mis-hiring and paint a frustrating picture of businesses struggling to find the right people to fill their roles. With mis-hiring costing the typical UK business around £125,000, 89% of respondents to the survey agreed there’s a need for improvement in making hiring decisions.”
The survey also found that while businesses aim to align recruits’ skills with company needs, 68% are dissatisfied with their current skills evaluation methods. Consequently, 92% would consider AI technology for drafting job specifications and assessing skills, and 89% are open to fractional work models.
Fractional work, hiring part-time or project-specific professionals, is being recognized for its agility and expertise, which can be especially beneficial for SMEs facing operational challenges. Project Brains provides a platform for accessing over 6,000 professionals across various business functions, enabling companies to tackle specific issues effectively.
