Running a successful business is about having a dream team on board. But retaining the best talent is a lot of work because they have endless options in the job market. Did you know that the average retention rate for American businesses in 2021 was only 52.8%? That’s a concern because a healthy rate sits at around 90%.
Losing people translates into a massive loss of resources like training costs, time, and hiring expenses for new employees. You can minimize these losses by reworking your onboarding process because it links closely with employee retention.
If you want to hold on to your top talent, here are a few ways to level up your onboarding game. Let’s dive in!
Make a great first impression
A great first impression during employee onboarding gives people valid reasons to stay with an employer. Show your newbies some love right from day one.
You can implement effective measures such as welcome emails, team introductions, and swag bags for new hires to start on a good note. Even these little gestures can go a long way in creating a lasting impression.
Offer high-value orientation
When new hires walk in on their first day, they are often bombarded with information. It can do more harm than good because employees may feel overwhelmed and uncomfortable at the outset. Instead, make a well-structured orientation program a part of the onboarding process.
It helps recruits navigate the ins and outs of your company and blend in seamlessly. Make them feel confident enough to hit the ground running.
Embrace best practices
There isn’t a one-size-fits-all secret to employee retention because every business is different. But you can maximize it by defining the onboarding best practices for your company and embracing them for good.
Dig deep into workforce pain points and expectations, and find solutions to address them. Integrate them into your onboarding plan to ensure that people have a reason to stick around for the long haul.
Assign a buddy
Being new in a workplace can make people feel uneasy, but having a buddy around makes them feel easy. Assign a buddy to your fresh-faced hires to help them settle into the new workplace. Pick seasoned employees to play the role.
The buddy system is like having a mentor who can offer guidance, answer questions, and help new employees become a part of the team. It builds strong relationships between team members and fosters a sense of camaraderie. Good reasons to stay, right?
Appreciation and incentives can enhance retention, so make them a part of the onboarding process, even if it seems too early to recognize and celebrate your new employees’ accomplishments.
Acknowledge their good work, whether it’s completing a challenging project, hitting a milestone, or embodying the company’s values. These measures make your employees feel valued and motivated to stay with your company for the long haul.
Winning the retention game is about keeping your team happy and engaged. You can get a head start by getting the retention effort on track early during the onboarding process. Follow these tips to make the best people stay for good!