Retention ~ Keep Your Employees from Escaping!
Chances are, you spent a pretty penny to find the perfect candidate you just hired. You are confident it was a solid investment as she brings the skills and experience necessary to take the company to the next level… if she beats the odds and sticks around for longer than 12-18 months.
Remember: Retention begins before your employee sets foot in the office.
If you want to attract, engage, and retain top talent you need an on-boarding program that is on-going. According to our research, 69% of businesses do not have a formal new employee on-boarding process in place. These companies are all but pushing the new hires they fought so hard to win, out the door.
3 Things YOU Can do to Guarantee Retention
Set a strong foundation with Pre-Boarding
A successful on-boarding strategy begins with how you interact with employees before their first day. Communicating your value as an employer and aligning expectations begins with the first interview. When companies are clear about the competencies that are needed for an employee to be successful, candidates and employers can align expectations straight out of the gate. Additionally, communicating your company’s unique culture, mission, and values helps candidates connect with your corporate identity. Pre-boarding is a way to stand out, differentiate, and engage before day one.
Build Engagement from Day One
Once your new hire comes on board, the first several days on the job are crucial. Both new hires and hiring managers are assessing whether they made the right choice. In our work with clients and candidates, we’ve discovered new hires move through four phases of engagement in the employee lifecycle to determine whether they will engage, and more important, stay with your organization. First, they want to feel confident they have the tools and support to be successful. Second, they asses the cultural fit to see if their contributions will be valued and significant. Third, new hires want to know if they can align themselves with the beliefs and values of the company’s leaders. Lastly, they want to know if they can grow and advance in their knowledge, skills, and responsibilities. A strategically designed on-boarding program affirms the new hire in each of these phases and engages new hires from the get-go.
Want even more advice on how to find, hire, and keep great talent? Download our Ultimate Hiring Cheat Sheet
Provide a New Hire Welcome
In order for her to be successful, your new hire will need to know everything from who is her direct supervisor to the best place to grab lunch. One key component to helping new hires transition smoothly is to train existing team members to train others. Matt Straz, contributor at Entrepreneur says,“[t]he most effective way to train new employees is to get their colleagues involved. After all, there are some things a handbook just can’t tell you. Employees who have the knowledge and experience to train others can help get new hires off to a great start.” Hosting an introductory meeting with key members of the team and allowing each of them to briefly identify their roles helps your newest team member identify who she can turn to for assistance (other than her boss). Sending a company email with information on new team members is a great way to make sure everyone is onboard. Lastly, don’t forget the seemingly “small stuff” such as where the bathrooms are located, how to work the copy machine, who to contact with an IT issue. Including hyper-local information is equally as important (especially to anyone who’s relocated) and includes convenient schools and neighborhoods, as well as quality nearby childcare, and where to go for killer sushi.
The numbers don’t lie. 69% of new hires are more likely to stay at a company for 3 years if they are part of a well-structured on-boarding program. Therefore, it is in the company’s (as well as the new hire’s) best interest to have a formal on-boarding program in place. Clearly defining expectations and means of assessment before day one, affirming their decision to join the team and future growth, an introduction to the team and other staff, and even a latte from the coffee cart in the lobby will go a long way to ensuring your super star new hire feels at home from day one and beyond.
Check out our 3-step process to designing YOUR top-notch On-Boarding Program.
Download your copy of “RETENTION- YOU are the Reason Your New Hire Wants to Escape”