86% of new hires make their decision to leave or stay within the first 6 months. Time to Rebuild your Onboarding Strategy!

86% of new hires make their decision to leave or stay within the first 6 months. Time to Rebuild your Onboarding Strategy!

  • 13th Apr, 2017

With technology running at its fastest pace, it has become crucial that the Human Resources team should also evolve its strategic approach! It should help new hires to reach at the expected level at the earliest so that they start contributing value to the business.

It is believed that these new entries can be easily adjusted in the organization if they are satisfied with the work and salary, committed towards their work, and most importantly, able to perform well. Studies have found that if the organization adopts a well-planned onboarding approach, you will have a higher retention and employee engagement rate.

Retaining a new hire can be very challenging in the first 6 months. Insufficient or disorganized onboarding can lead to lack of performance by the new hire or even an early exit from the organization. Acquiring a new hire has a high cost associated with it and losing them in the first 6 months can lead to loss of investment as well as impact business.

Let us discuss few of these strategies that can be help retaining the new hires.

Well-planned Onboarding Process

If the organization is following a well-planned onboarding program, then the majority of employees will continue with the company for a longer period.

But what is well-planned onboarding? Well, it is all about planning, scheduling, and how you communicate about the organization’s policies and processes, mission and vision as well as the important skills and knowledge a new hire should have in order to perform well.

If the organization has a well-defined onboarding program, then the new birdies will have a clear picture about their role and goal. It also lays out clear-cut objectives and its measure.

Before embarking them on the job, help bring clarity to the new hires about the organization, their roles, responsibilities, and resources available for utilization.

Good Rapport of New Birdies and Managers

The onboarding process should help the new hire understand the organization and its culture. Other than the senior management and HR, it is essential that new hires have frequent interactions with their managers (especially during the initial ramp up period).

For new hires, managers are best positioned to provide clarity about KRAs and the parameters to measure a success. For this, managers themselves need to be oriented on what topics to discuss and how. For example, key business growth aspects, customers, and strategies. Accordingly, managers can allocate assignments to them and set the competencies that they are expected to demonstrate.

Tips to Make Onboarding Process More Exciting and Fruitful

  • Welcome new hires nicely and avoid inundating them with unnecessary and monotonous paper work. Instead, focus on making the entire experience more fun by engaging them.
  • Give some time-slot to the senior leaders or founders to have a brief introduction.
  • It will be really good, if you can prepare a detailed plan (ideally for 6 months) and share a checklist of various activities new hires must essentially know. Track the checklist with them to fine tune as and when required for other new hires.
  • Use interactive ways to explain the onboarding process, such as videos, links, or interesting graphics explaining the various aspects of the organization.
  • Organize formal training for the new hires so that they can match the speed of the existing employees.
  • Share formal and informal feedback with the new hires. It helps in keeping their performance on track. You can also provide suggestions while interacting with them.

Conclusion

If the organization has a well-planned onboarding approach, then it will help in increasing employee engagement, improve performance, and reduce attrition rates. There are tools, like HR-One HRMS that can help in achieving your goals and increasing the revenue of your organization.

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