Despite the economic uncertainties, many executives currently witness higher turnover rates than usual. Almost 65% of the workforce is actively looking for a new job. However, certain motivating factors behind seeking new jobs include better alignment with company culture, higher compensation, & other benefits. Employers actively compete to retain highly qualified professionals within the organization. However, certain pillars of retention must be considered.
One vital pillar is onboarding. Onboarding is the employee’s first impression of the organization & provides an insight into it. Moreover, it offers a glimpse of the company’s vision & mission.
But how to retain employees through onboarding? How to create an extraordinary onboarding experience for the employees?
Don’t worry! We got your back. Onboarding is a necessary process & knowing how to retain employees is vital for the company’s benefit.
What Is Onboarding?
Onboarding refers to the process wherein recruits are integrated into the company. It includes activities that enable new employees to complete an initial new-hire orientation process along with learning about the company, its structure, culture, vision, mission, values, etc.
Interestingly, in some companies, onboarding is a 1-2 day process consisting of activities. However, for other organizations, this process might involve a series of activities extending to many months.
Looking closely at the onboarding process, we’ll see that it is often misunderstood with orientation. While orientation is crucial for completing paperwork & day-to-day tasks, onboarding is a comprehensive procedure involving management that can last up to a year.
How Effective Is Onboarding Necessary For Employee Retention?
Recent changes in the labor market have allowed employees & business leaders to reimagine work’s role in our lives. For most people, work is a way of expressing a commitment to foster environmental & social change.
Many studies show that over three-quarters of people accept a job with a smaller salary to work for an environmentally responsible firm.
However, effective onboarding is necessary for employee retention. So before knowing how to retain employees through onboarding, let us look at its significance!
- Optimize New Hires
By having a solid onboarding process, you can help the team remain motivated from day one. In addition, by allowing them to give their best performance, the new hire will feel integrated & relevant in the company, thus reducing the chances of resigning.
So, allowing yourself to understand the organizational policies & culture will make it simpler for them to fit in better with colleagues & senior staff.
- Making the New Hires Comfortable
Ensuring that the period after the hiring process is effortless with sufficient training, the employee will feel comfortable & supported in their new environment. Moreover, this will make them feel more integrated in the workplace.
By making the employees feel comfortable, they are bound to remain engaged, thus increasing productivity & employee turnover.
- Recruits Feel Appreciated
By ensuring that the onboarding process is supportive, employees will see that their leaders appreciate them. As a result, this will provide positive opinions throughout their career – obviously, first impressions count!
Thus, making sure that the onboarding process is effective will result in helping the company as well as the employees, thus making them feel recognized.
How To Retain Employees Through Onboarding – Tips You Just Can’t Ignore!
In order to know how to retain employees through onboarding, you must understand that it is a process & an experience that new hires have. However, this can make or break their loyalty to the company.
Poor onboarding can result in negative first impressions, thus decreasing productivity & retention.
Even if the employees don’t leave right away, they will be less committed to work in the long run. Therefore, to get the most out of the hiring process, here are some strategies to help retain employees.
- Make A Strong First Impression
A typical complaint among new employees is information overload or lack of specific performance targets during onboarding. As a result, this can overwhelm new hires & give them second thoughts regarding joining the company.
Therefore, making an excellent first impression is vital so that the recruits feel confident in their decision. One approach to this is sending a welcome email before their first day. The mail must include some basic information on what to expect on their first day. In addition, the mail could consist of short texts, videos, etc., that will offer an overview of the company culture.
Thus, having a solid first impression is vital for enabling employees to stay & work hard in the company.
- Foster Meaningful Relationship
Once onboarding begins, it is best to try & help new recruits foster meaningful relationships with their managers & co-workers. The human factor of the onboarding process is the most valuable, specifically when people make additional efforts to make new employees feel welcomed & comfortable. Thus, providing your existing workforce flexibility is an excellent idea to enable them to connect with new recruits.
- Don’t Rush The Process
In order to retain employees through onboarding, one must know that it’s an ongoing process. While it’s tempting to give all the information to the recruits on the first day, it’s constructive to introduce policies, rules, & regulations gradually.
In addition, it shows that the company cares about them and their progress. This, in turn, represents that the organization values quality over quantity & isn’t operating in a rush environment. Thus, breaking up and gradually telling the employees about policies will help reduce the likelihood that new employees will miss something vital because of information overload.
- Establish Clear & Measurable Performance Targets
Although, you might think it’s better to focus on measuring the employees’ performance; establishing clear goals from the beginning can help you improve your onboarding process. This will give employees a strong understanding of what is expected of them, thus enabling them to ask questions during onboarding.
Employees must understand what is needed of them & how they will be evaluated. Performance targets must be specific & measurable to assess the employee’s growth & development.
Interestingly, new hires tend to have a more positive onboarding experience when they know how their work contributes to the organizational goals. Focusing on measurable objectives helps motivate employees to perform at a higher level as quickly as possible to meet short-term & long-term goals. Moreover, if they have any questions, you must answer them thoroughly as a leader so that they comprehend what they are expected to do!
- Use A Mentorship Approach
Consider partnering a mentor with recruits. This mentor must be someone who will support & encourage them. In addition, these professionals help recruits to adjust to the environment & provide valuable training.
Although mentoring requires time & budget, it’s, however, an investment with positive financial returns & increased employee satisfaction. Moreover, mentoring benefits both trainees as well as the mentor, i.e., it empowers & builds the employees’ leadership skills & fosters loyalty in the trainee.
In addition, the company also benefits from having a new employee perform at a higher level without the risk of having too many responsibilities thrown at them too soon!
Onboarding is a vital process that helps new hires remain comfortable & supported in the new environment. In addition, retaining them in today’s competitive market is a bit challenging. But it pays off immensely when you make an effort in the right places.
So, onboarding is an excellent opportunity to start employees on the right foot. You can take help from the tips mentioned above and inculcate an effective onboarding procedure to retain employees!
Suggested Read: Be a Smart Worker