According to the 2021 Bureau of Labor Statics report, the annual total separations rate or turnover rate in 2020 was 57.3 percent. Some forecast that number to be higher in 2021. Jump starting new employees and improving retention is clearly important to gain a greater return on your hiring investment.
The key is planning and implementing a clearly defined onboarding process. In the September 21, 2021 edition of Human Resource Executive, Nick Otto shared that what’s important to employees now has moved from culture and meaning to flexibility, increased pay, and job security. Having an effective ‘Onboarding Success Map’ is one valuable way to demonstrate a path to greater pay, flexibility and job security to your newly hired employees. Your reward is a faster and enhanced return on your hiring investment.
Your onboarding process should:
- Have clear outcomes the employee is to achieve at specific time benchmarks
- Have regular feedback built in, even weekly in the beginning and,
- Be progressive with realistic steps that advance each week, month, quarter etc.
If your company does not have an onboarding map and process that you believe makes you a destination employer, let’s start a conversation about how to build or improve on what you have in place.