You’ve found the perfect candidate, extended the offer and
made your hire – congratulations! Now the real work can begin!
That’s right – finding and hiring the right candidate is
just the beginning when it comes to creating a team of employees you can rely
on. There is so much more that needs to be done in order to keep those new
hires productive and happy. And it all starts with onboarding: your first
line of defense in employee retention.
We’ll talk about ways to create a successful onboarding
process in the future, but today, let’s focus on why it’s so
important.
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Building a Team: Once you’ve made that hire,
there are two ways to go – point your new employee to their desk and set
them free to work, or guide them in the ways of your company and
remember that everything is still a bit overwhelming when starting a new
job. Which do you think is the most successful way to orient someone
into your team? Quality onboarding provides those new hires with a point
of reference to come back to for questions and acquaints them with a few
familiar faces, making them a part of a team they want to see succeed.
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Establishing Expectations: Onboarding is also the
perfect time to establish expectations in terms of not only the new
employee’s job duties, but also key aspects of how the company runs and
what the company culture is all about. It might seem like senior
employees, especially, are ready to hit the ground running – and that
letting them loose could save time and money – but in the long run, the
potential for issues down the line increases exponentially when you
don’t establish those expectations from the start.
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Preventing Turnover: According to LinkedIn, replacing mid-level employees
can cost up to 150 percent of their annual salary. When it comes to
highly specialized employees, that cost can run up to 400
percent. Point being: turnover affects your bottom line in a very big
way. Companies that have a quality onboarding program and work to
prepare their employees for the job manage to decrease their turnover
rates. This is partially because employees feel like they are a part of
the team and know what is expected of them, but it is also because they
are made to feel as though their company actually cares about them and
their success. And an employee who feels that way is bound to stay on
longer than one who has been set adrift.
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