A sizable percentage of businesses are facing cost pressures and budget constraints. Human Resources professionals and operations leaders are balancing between ensuring teams consist of top talent while driving efficiency and savings.
One way to accomplish this is by reducing turnover.
Turnover isn’t just an inconvenience; it’s a significant financial burden. According to HR Dive, the average cost of turnover per employee is a staggering $36,295, and projections indicate this figure will only rise. Factors contributing to increased turnover include better pay and benefits elsewhere, increased workplace demands, and a competitive job market.
Yet, the impact of turnover extends beyond mere dollars and cents. It erodes organizational culture, diminishes morale, tarnishes employer branding, and hampers productivity. While many retention strategies focus on post-hiring efforts, the onboarding phase presents a prime opportunity to set the stage for long-term employee success.
A cohesive onboarding process is one of the most effective methods to decrease employee turnover.
Understanding the importance of a seamless onboarding experience is paramount. A staggering 29% of employees leave their jobs within the first 90 days, underscoring the critical nature of this initial period. Research from Glassdoor indicates that organizations with robust onboarding processes experience an 82% improvement in new hire retention and a 70% boost in productivity.
At Luttrell Staffing Group, we’ve honed our onboarding approach over our course of 30 years of experience serving diverse organizations. Our commitment to customized, personalized onboarding has demonstrated its ability to positively impact culture, brand perception, employee experience, and ultimately, turnover rates. Our customers count on us to do just that.
So, how can you enhance your onboarding process to reap similar benefits? Here are three key principles to consider:
1. Build the Relationship
Start onboarding before day one. Reach out to the employee a few days prior to reinforce the opportunity and advise them on what they can expect. From day one, prioritize making new employees feel welcome and valued. Provide them with a personalized welcome packet and checklist, and take the time to go through each document together. Capturing a new hire’s photo for social media not only fosters a sense of belonging but also humanizes the onboarding experience.
2. Set Clear Expectations
Equip new hires with all the information they need to thrive in their roles. Outline work location, job responsibilities, company policies, safety guidelines, and any other pertinent details. Clarity breeds confidence and reduces uncertainty, setting the stage for success.
3. Prioritize Ongoing Communication
Establishing channels for open dialogue is crucial from the outset. Provide employees not only with contact information but also foster a culture where reaching out is encouraged and supported. This means not only HR, but also peer groups, buddy systems, and department heads should make a point to connect with the new hire within the first 30 days.
Regular check-ins, whether automated or in-person, are essential for demonstrating your ongoing commitment to their success and well-being. These interactions provide valuable opportunities to address any questions, concerns, or feedback the new hire may have, while also fostering a sense of belonging and support within the organization. Remember, effective communication isn’t just about relaying information—it’s about building relationships and ensuring every team member feels heard and valued from day one.
By implementing these strategies, you’ll not only enhance the onboarding experience but also lay the groundwork for long-term retention and cost savings. In today’s competitive talent market, a stellar onboarding process is a strategic imperative.
If you’d like to hear more about our 10-step proven process that drives end to end recruitment success, contact us today and we’ll provide additional details.
