Think about how much it costs you to attract and employ talented new members of staff. Whatever figure you have in mind, you can probably double it.
A recent report carried out by Oxford Economics revealed that replacing staff members costs up to £30,614 per employee. This figure was derived from two main factors:
• The Cost of Lost Output while a replacement employee gets up to speed
• The Logistical Cost of recruiting and absorbing a new worker
With such a high level of investment required to obtain new staff, it would make sense to ensure that this money didn’t go walking out of the door after a few months on the job, wouldn’t it? You would like to think so, yet we see this happen time and time again. It baffles me that companies aren’t doing more to safeguard their investments by making their transition into a new job as easy and positive as possible. Especially since new staff take an average of 28 weeks to reach optimum productivity levels.
We’ve outlined six measures you can take to help make the life of a new hire a little easier. These will get them up to maximum productivity levels faster and improve your levels of new starter retention.
1) Before their start date why not invite them to a company event or function? This is a perfect way for them to meet their new colleagues in a less pressurised situation. This will immediately make them feel a valued member of the group and the familiarity will help with their first day nerves 2
) If a pre-start event is not an option, then have someone call them to check that they have everything they need and are prepared for their first day. It’s a nice idea to have a member of their team that they will be working with closely make the call, such as their direct manager. This is especially important if there is a long lead time between offer and starting with a new company.
3) When they do start, make sure all necessary training in order for them to perform their job properly is carried out immediately. There’s nothing worse for a new employee than the anxiety that comes with unfamiliarity of new IT systems, workflows, methods and software. Have them brought up to speed right away so they can start bringing value to the business.
4) Have someone mentor them and look after them in their early days on the job. A colleague performing a similar role who has one or two years more experience can be a good choice. It not only helps the new starter feel part of the team but also helps the mentor feel appreciated and enforces their knowledge of the business through the method of teaching.
5) Much like step one, take them for a company lunch or involve them in a business event two or three weeks into their employment. Participating in shared experiences with team members is the best way to build rapport and kinship.
6) Conduct a performance review early into their employment; this doesn’t necessarily have to wait until their probation review. If you feel a new starter is performing well and contributing to the business – tell them. Even if they appear confident and settled, everyone needs reassurance from time to time.
Starting a new role can be daunting and any help that can be offered to make it easier will go a long way to making the new recruit feel settled. To aid your retention strategy long-term keep the above staff on boarding tips in mind. If you continue to value and look after your people they will become more engaged and loyal employees. It’s a win-win situation!