New employee paperwork is important, but you should never let that be both the first – and last – stop of your company’s onboarding process. Studies have shown that a structured onboarding process improves employee retention rates and decreases costs.
Consider this: Hiring a new employee can cost almost $4,000, plus salary & benefits. If you hire a new employee and they decide to leave your company within the first couple months, you’ve lost that initial investment and you have to start all over again. That’s why focusing on improving employee retention through better onboarding is significant from both a growth and financial standpoint. You want to make sure you’re retaining your employees for the sake of your company, and your budget.
So what can you do? No matter what kind of onboarding process you’re currently using, we’ve listed out 3 ways to quickly improve your process and reduce employee churn:
If you’re still using a manual process to collect paperwork, it’s time to let that go. A manual onboarding process will not only eat up your time and resources, it can essentially cost you money. If you haven’t already, consider investing in affordable Onboarding Software that will allow you to gather all the information you need quickly and securely, so you can focus on other steps of the onboarding process. When you utilize Onboarding Software, you’ll have a centralized place to create forms and checklists, manage tasks and send emails – making the administrative process faster, and more efficient. You can even try a free 15-day trial to test for yourself. Onboarding software should be easy-to-use and affordable, so the benefits of using it will greatly outweigh the investment.
Roll Out The Red Carpet.
Make new employees not only feel welcome but get them excited about working for the company. Prepare a welcome packet complete with lunch and parking options. Provide an overview of what to expect their first day, and a list of perks they can enjoy (onsite gym, free coffee, etc.). Give them a personal tour of the office and formally introduce them to their new co-workers. You can even pre-arrange for staff to take new employees out to lunch to make them feel more welcome. If you’re the hiring manager, communicate how excited you are to have them and how you look forward to working together. A few kind words and simple gestures can go a long way and get your employees already feeling valued and eager to jump in.
Your onboarding process doesn’t start and end after your new employees the first day of work. The most successful onboarding processes include long-term activities that encourage communication between both hiring manager and employee. For example, some organizations have a review after 90 days or request feedback on a monthly basis. By keeping the lines of communication open, you’re showing your employees you care about their experience and see if they’re getting the tools and direction they need to be productive and successful in the organization. It’s also encouraged to provide additional training when applicable, communicate performance and provide feedback. Make time for 1-on-1 sessions for a more personalized experience.
What are some ways you’ve improved your onboarding process?