Sack any time first two years - so what’s the point of probation periods?

Exodi

YBR said:

In the normal contracts for my company, either the company or the employee can walk away with very short notice (possibly a week). After that it's normally 3 months notice.
Of course that's not universal.

Similar to mine, things like CSP, extended notice, life policy, private health insurance, etc only kick in for employees that have passed probation.

Anecdotally, the main reason (as an employer) is notice. If it's immediately obvious they are not a good fit for the business, you don't want them starting with an immediate 3 month notice.