As a hiring manager or HR professional, you know how crucial it is to limit employee turnover. When people leave your company, it can cost as much as twice their annual salary to replace them, says a study by the Center for American Progress. Limiting these costs is one of the many reasons it is so important to hire the right person the first time around.
However, no matter how perfect a recent hire may be for his or her new job, a poor onboarding experience can drive the ideal candidate to leave your company before truly getting started. According to the work-force insights arm of credit-reporting agency Equifax, more than 40 percent of voluntary turnover occurs within an employee's first six months at a company, during which period a robust onboarding process could keep new-hires feeling engaged and inspired.
While the majority of successful companies work hard to ensure their newest members feel comfortable and prepared during their first few days on the job, far too many look no further than that first Friday. The most effective onboarding processes, on the other hand, can last as long as a few months.
Here's a timeline to help guide you as you design the onboarding process that will help you retain your most talented recruits:
Pre-boarding and the first day:
We know you're busy, but it can pay to begin your onboarding efforts several days before the employees are set to arrive at your office. Remember, new hires are usually early on their first day, so get your welcome email out at least a day before their start date so you're not stuck scrambling the morning they arrive.
Here's a list of day one materials and activities you should prepare before your employees arrive:
- HR forms and paperwork they need to sign up for benefits and payroll
- Company information, such as a handbook or directory
- Security access, including keys or an ID badge
- Technology credentials or access, including email and phone systems
When new-hires arrive for their first day, make sure they are assigned a greeter or a "buddy" they can recognize as their go-to point of contact with any questions or concerns they may have.
The first week:
While some companies don't prioritize scheduling their first one-to-one meeting between new employees and their supervisors any sooner than the first month, we believe it is crucial that this conversation takes place within the first week.
During this meeting, managers should detail not only their expectations, but also make a point to find out their new employees' goals for their tenure at the company. Supervisors should then outline exactly what it will take for a person to succeed on their team, as well as offer suggestions for how employees can meet their personal goals within the organization.
The first month:
At the 30 day mark, its time to schedule the next meeting between new team members and their bosses. This meeting should take the form of a performance review, where a manager should be as specific as possible in both addressing behaviors that need to be adjusted and those that deserve praise.
Whenever possible, refer back to the list of behaviors you identified during the first week as those that would help new employees be successful. This continuity will reinforce the idea that you are as committed to helping them achieve success as they are, an understanding that can go a long way in helping new hires envision their future at your company.
The next few months:
Over the course of the next several months, its imperative not to lose the focus with which you approached the first several weeks. Maintain a high level of contact with the newest members of your team, ensuring their concerns are heard and responded to.
Likewise, continue to provide them with feedback that will help them perform better in their new roles. Plus, make sure that your new employees have been invited to join company social groups, such as sports teams or book clubs. If things are starting off a bit rocky, a sense of inclusion and a few close friends can make all the difference.
Working with a global executive search firm can help you streamline both your recruiting and onboarding efforts. To learn more about some of the roles YES Partners has already successfully filled, click here!
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