Rolling out the welcome mat
By Brenda McGuire
It is a well-known truth that a company’s most valuable assets are its employees. However, hiring wisely is just one small step to acquiring – and keeping – great resources.
Retaining recently hired employees can be an even larger challenge than finding the right candidate. It can cost up to six months’ salary to replace an average-level worker and up to 18 months’ salary to replace a manager or specialist, according to professional studies. This includes the price of advertising the position or hiring a recruiter, as well as the time managers must spend reviewing resumes, conducting interviews, checking references and completing the paperwork involved with hiring a new employee.
Studies have also shown that a newly hired employee makes up their mind within the first 10 days about whether they plan to stay with a company or start looking for a new job. As such, it is imperative for a company to make a great impression starting from day one.
“Onboarding” is the process a company uses to provide a new employee with the information, knowledge, skills and tools they require to quickly become an integrated and effective part of the company.
Successful onboarding helps the new employee feel connected and committed to the organization, get up to speed faster and perform better. This results in greater job satisfaction, higher employee retention and better overall success for the business.
While proper employee on-boarding can run the course of one day through to one year, the following tips will help an employer get the employee off to a great start the first day through first week.