03 March 2014
When hiring a new employee, it’s important to set them up for success within your company from day one. Unfortunately, many employers make the effort to search for promising candidates only to make a poor first impression on the employee’s first day. In spite of their best intentions, hiring managers sometimes make avoidable mistakes during the onboarding process, often by implementing bland practices that focus too heavily on workplace assimilation and not enough on the individual. A lot is at stake when you bring a new person onto your team. There are plenty of factors to take into consideration, such as the time it takes to screen and hire, train, and integrate a new employee into their role. On top of that, though the numbers are somewhat difficult to predict, one study estimates that replacing a salaried employee costs six to nine months of that person’s salary, on average. Other studies suggest the numbers vary according to position, with one study estimating that the cost of replacing an employee earning an hourly wage costs 16% of that employee’s annual salary, while replacing a high level executive could cost up to 213% of that person’s salary. As a result, it can be a substantial waste of time and money if the recent hire does not feel like they have the tools they need for success If you’re bringing on new talent and want to make sure they’re engaged and content from day one, read on for our tips. Have an objective: Many new hires go through poorly planned orientations and, as a result, are already less enthused about their new job before they’ve truly begun. Since studies show that turnover is significantly higher when new hire integration protocol is handled this way, taking the time to plan a welcoming program that successfully integrates elements such as on-the-job training and support from mentors, peers, and management is well worth the effort. Implement engaging programs: A multitude of companies have implemented engaging orientation practices that successfully impact how employees perform. For example, Facebook sends their new hires key documents they can complete before their start date, so during their first few days they have more time to get to know colleagues. Studies have also shown that this is an efficient way to begin a new employee’s term with a company, as new hires tend to stay on the job longer when they feel they’re part of a social group and identify with their coworkers early on. Assign a peer coach: Assigning a new employee a talented partner or mentor can help them get acclimated into a new role. A knowledgeable and friendly colleague with a good performance record can answer any questions your new hire may have, introduce them to others, coach them on how to best do their job, and share the techniques that work for them. During the onboarding process, you’ll want to provide your new employees with all the resources available for them to succeed. Support them: To ensure employees are comfortable in their first few weeks and fully understand their duties, consider giving them the opportunity to attend weekly meetings with their supervisor or Human Resources representative. Knowing they have guidance and have the opportunity to receive feedback and ask questions will help them feel more confident in their role. Have them contribute early on in the process: Give your new hires a sense of autonomy. By allowing them a chance to contribute on their first day, they immediately feel more a part of the company. However, rather than throwing them straight into their duties before they are adequately trained, give them an opportunity to learn, get involved, and meet their colleagues before they take on any daunting tasks. If you want employees to be passionate about your company, be passionate about them. Give them the kind of onboarding experience that will make them comfortable, stimulate their intellect and interest, and develop their skills with patient training. The formula for employee retention is no mystery–it simply involves starting from day one.
03 March 2014
On Tuesday, February 25th, Samantha Parris, Senior Managing Director of The Execu|Search Group’s Accounting/Finance recruiting division, participated in a recruitment panel for Columbia University’s Executive Master of Public Policy and Administration (EMPA) program.