Execs feel 47% of their best talent will quit within 2 years of hire

Execs feel 47% of their best talent will quit within 2 years of hireExecs feel 47% of their best talent will quit within 2 years of hireNew data from Eightfold shows thatCEOs and CHROs think that 47% of their best employees will quit within 2 years of hire. But overall, 78% of these executives think that talent programs are very important for their workplaces, but they seem to be getting a bad rap - 56% consider them not very effective.Eightfold partnered with Harris Interactive Media on the study - which has a detailed methodology - but keep in mind that 1,007 CEOs or CHROs of companies with 1,000 or more employees and 204 employees weighed in. Thats a pretty large scale.But the upcoming findings are just from respondents who are CEOs and CHROs, specifically.When executives think the best employees will leaveHeres what the breakdown looks likeOver 10 years 13%5 to 10 years 11%2 to 5 years 28%1 to 2 years 24%1 year or less 23%Where diversity falls short at big companiesHeres where diversity is lacking at executives companies, according to themWe cant find enough qualified, diverse talent 40%We struggle retaining diverse talent 38%We lack career opportunities for 40-55 year olds 31%We lack career opportunities for Millennials 23%We cant find enough people of color 23%We cant find enough women 22%But Ashutosh Garg, co-founder and chief executive officer at Eightfold.ai, commented on the research in a statementExecutives have spoken and its clear that the diversity problem in talent management feels like its worse than ever At the same time, we know that the quality of diverse candidates available today is unmatched.Common hiring issues executives faceCEOs and CHROs broadly demonstrated that their companies have a variety of issues in the hiring department, reportingWe face greater market competition for talent 42%We lack available skilled staff 40%We have difficulty retaining talent 39%We see a skills shortage in the market 30%None of these 13%A chilling find ing from the report also shows that polled companies predict that an average of 792 open jobs wont be filled within the next year.But just 22% reported their companies have put artificial intelligence, or AI, to use for talent programs.In the same vein, here are the top threeways that CEOs and CHROs think that AI can help their companies in terms of talent goals by improving the talent acquisition process (44%), increasing talent retention (44%) and reducing the time HR spends on admin tasks (42%).Overall, 64% of leaders surveyed think that boosting talent retention is important, 57% think having a diverse workforce is crucial and 59% feel the same way about creating a better experience for internal and externalcandidates.