Now that you’ve found and hired the RIGHT people for your organization, it’s time to think about how you’re going to retain them.
Research shows that “half of all senior outside hires fail within 18 months” and “half of all hourly workers leave within the first 120 days. ”
The first step in employee retention is on-boarding. Without an on-boarding program that welcomes your new hires and provides clear expectations from the start, your new hires won’t have a chance to make a positive impact on your company or your community.
How important is successful on-boarding?
Well, if you measure success in ramping up new hires quickly and cost effectively, and retaining them over time, the impact is staggering.
A successful on-boarding program not only arms new hires with important organization/business facts, but it helps build an engaged workforce that is committed to the company’s mission, vision, and values, ultimately, positively effecting an organization’s bottom line.
So, what does it take to make your on-boarding program kick-a$$?
Step 1: Have One! Seriously though, according to the 2012 Allied Workforce Mobility Survey, 22% of the companies surveyed had no formal on-boarding program at all. You might be wondering what I mean by “formal on-boarding”… well, I don’t mean tuxedos and ball gowns (all though that could be fun)… I mean having a plan—a written set of policies and procedures to help new hires adjust to their new job and most importantly, set them up for success. A formal on-boarding program consists of a manual or roadmap that outlines the new hires’ specific timelines, goals, and responsibilities, as well as the support available to them.
Step 2: Involve the entire team! What better way to bring a new employee up to speed and show him or her what’s expected than to see it firsthand. Having existing team members help with on-boarding new employees will not only free up your time, but it helps establish strong camaraderie among the team. Existing team members should be involved in the on-boarding program in two ways, the first as a trainer—helping to explain company policies and procedures and second as friend. Encouraging team members to take new hires out to lunch or grab a coffee will foster strong team bonds, mentorship opportunities, and allows new hires to learn the company culture candidly.
Step 3: Go online! Utilizing an online, distance-learning platform (like eQ’s Growth University) as part of your on-boarding program is an affordable and effective way to engage new hires. It allows them to access and complete their required training at their own pace (given your pre-determined timeframe for completion) with little to no interference in you and your team’s daily work obligations. Online on-boarding also helps free up more time for valuable in-person mentoring and shadow opportunities for the new hires.
By implementing a formal on-boarding program, specifically one that includes a deep immersion in a company’s business, strategy and culture, you provide your new employees with the skills they need to achieve higher levels of productivity and deliver on business outcomes sooner, rather than later.
Sources:
Smart, B. (1999). Topgrading: How leading companies win by hiring, coaching, and keeping the best people. Upper Saddle River, NJ: Prentice Hall.
Krauss, A. D. (2010). Onboarding the hourly workforce. Poster presented at the Society for Industrial and Organizational Psychology (SIOP), Atlanta, GA.
