5 Strategies for Building an Onboarding System That Prevents Turnover
Effective onboarding is a key differentiator between companies that retain top talent and those that suffer from excessive turnover. And given the current job market, turnover is a real issue. A survey of businesses by Careerbuilder found that 69 percent of companies recently had difficulties with bad hires, with 41 percent of those reporting associated costs of over $25,000.
Onboarding is essential to preventing turnover and curating a qualified team. And the best way to build an effective onboarding system is to establish clear, well-defined steps to undertake for each new hire that leverages the skills of both managers and team leaders throughout the organization.
1. Prepare for their arrival
Get the new hire’s work area ready before he/she arrives. This includes setting up the desk and computer, creating IT credentials and logins for any relevant software, making copies of keys, and starting paperwork related to direct deposits and benefits. Aside from being good practice for clerical efficiency, starting these steps early will help make a new employee feel welcome from the moment he/she enters the building.
2. Make the rounds
Once the hire is settled, he/she should be taken around the office and introduced to key team members with whom they’ll be interacting. Not only will this help break the ice and contribute towards effective teamwork down the road, but it will give the new hire more sources of knowledge to pull from. It becomes much easier to solicit advice from those we’ve been introduced to than perfect strangers.
3. Schedule a personal meeting
After a bit of time has passed and the hire has become comfortable in the building, managers should schedule a one-on-one meeting to review company policies in more detail and reinforce the company culture. This vital step provides important information for the hire, but also gives him/her a chance to voice any concerns or questions that have not been addressed. A survey conducted by BambooHR of over 1,000 employees revealed that 16 percent—one in six—of new employees leave a new job within the first three months.
No onboarding process can cover all the bases to prevent turnover, but proactively reaching out to new employees can provide valuable feedback on how future onboarding efforts can be improved.
4. Assign a mentor
All new hires need a single point of contact to go to with concerns, but for large organizations, this task can easily overwhelm hiring managers and executives. Instead, managers should assign each hire a mentor who can train him/her on specific company workflows and answer any questions he/she has. This is another person who can work with the hire, establish expectations, and instill the company culture in a one-on-one way.
5. Create concrete schedules and objectives
New employees will require guidance, but be careful—mentors who don’t clearly define goals and expectations can do more harm than good. Managers and mentors must work with new hires to create feasible timelines for learning objectives throughout their training period. Achievable benchmarks like these are a great way to bring new hires into the fold and help them get accustomed to their new duties.
Effective Onboarding Retains Talent
Onboarding is important for establishing expectations for new hires and setting the tone for their time at the company. According to a study by the Wyndhurst Group via Forbes, when employees undergo structured onboarding, they’re 58 percent more likely to stick with a company for more than three years.
If your organization is suffering from excessive turnover due to a lack of onboarding, give Urgenci a call to schedule an in-depth assessment of your company. Turnover may be impossible to eliminate completely, but with the right process behind you, you can minimize the costs of hiring and get back to doing what you do best.