85% of New Hires are Making this Critical Decision within the First 6-Months of Employment
21 million employees plan to change jobs this year, according to a study conducted by the talent management software provider, Cornerstone OnDemand. But even more surprising, is the fact that 85% of new hires decide within the first 6-months of employment if they’ll stay at your company.
And turnover is expensive.
So, what can you do to make it better?
Strategic Onboarding
When you hire a new employee, onboarding involves routine tasks, like passing out badges, completing new hire forms, assigning computers and other items. Strategic onboarding, however, goes beyond these basic tasks.
The University of Michigan and U.S. Department of Labor conducted a study, which found that it takes 45 days for a new employee to reach full productivity. Onboarding improvements can assist with reducing this timeframe, with:
- Enhanced training
- Mentorships
- The buddy system
- And other engagement driving tools
Together, your onboarding and recruiting strategies should work together to enhance performance, strengthen retention and get your new hire up to speed faster. You should also align new hire expectations to prevent future turnover challenges. For example, does your new hire understand:
- Exactly what’s expected of them
- Average versus stellar performance
- How they will be held accountable
These are critical components of the on-boarding process, which provide new hires the road map to success.
An Important Connection…
When done correctly, onboarding is an important piece of your talent management program. New hires become functional faster, which enables them to start producing – and growing your bottom line. As Tony Robbins said “Progress equals happiness.” When you are moving forward, your company will enjoy a competitive advantage in the marketplace.
If you need assistance creating an effective onboarding strategy, CERS can help! We have some of the best guarantees and protection in the industry, with coverage up to 5 years. Call or email us today for a free assessment and quote at 561-910-8000.
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