Tips for Retaining New Employees
Hiring a new employee is a delicate process which takes time, money, and effort! Society for Human Resource Management (SHRM) has found that hiring a new employee can cost an average of $4,129, or up to 20% of their annualized salary. SHRM also found the hiring process typically takes 42 days. Finding that perfect placement is crucial, however, once you have found them the work is far from over. According to Tinypulse’s research, 22% of employees leave within the first 45 days of starting a new job. Your company needs a strong and effective onboarding process that goes beyond the new-hire paperwork, otherwise you’re setting up your organization and your new employee for failure. How can you effectively retain your newest talent?
Read further for tips on retaining your new team members:
1: Frequently update your onboarding program and process.
Onboarding a new employee takes just as much time and effort as searching for the perfect candidate. It also requires a unique approach in order to make them feel a part of the organization and company culture. According to Tinypulse, “new hires that went through a well-structured onboarding program were 69% more likely to remain at a company up to three years.” Does your onboarding process need some adjustments? Check out Tinypulse’s 5-point-check list for successful onboarding.
2: Freshen up their workspace and your training materials.
There is nothing worse for a new employee than coming into their first day to an incomplete set up, a dusty computer screen, and a training manual that should have been left in the 90’s. Prepare your new employee’s workspace prior to their arrival. Make sure that the area is clean and ready for them; including a welcome card from the team is always a great way to make your new employee feel good. Be sure to freshen up your training material with current policies and procedures. If possible, use pre-employment questionnaires try narrow in on your new employee’s learning style. This creates a great opportunity for managers to be prepared for the way their new team member processes information. Though often overlooked, this can be the best way to teach them the ropes and review expectations and goals of the job.
3: Socializing and the Buddy System.
Relationships are a key aspect for employee engagement and performance. According to Gallup’s “State of the American Workplace,” organizations found an increase in engaged customers and profits if their employees felt they had a close friend at work. Ask the workplace veterans to sign up as mentors for new employees, or provide opportunities for co-workers to get to know each new employee. It is important for new employees to feel welcome and a part of the team. You can host an office wide meet and greet luncheon, introduce your new employee to the key management members, and have their direct managers take them to lunch their first week.
Hiring a new employee is an exciting process for both parties! The last thing you want to do is see your newest hire walk out the door because your onboarding process fell short. You should be spending just as much time and effort in retaining your employee as you did in searching for them in the first place. Implement a successful onboarding program by preparing for your new hire, updating your training materials, and assigning a co-worker to show them the ropes. By following these crucial yet simple tips you will be well on your way to providing an effective onboarding process. Your organization and new employees will thank you!