You are probably ignoring this great practice that can help you both hire and retain talent!
What is this mystery practice?
One word – onboarding!
Well, I bet you didn’t expect this answer, right?
But bear with me – I’ll explain exactly how a great onboarding can help you achieve 2 most important HR goals:
How can onboarding help you hire talent?
A well-structured employee onboarding program can help you ensure the successful outcome of your hiring process.
Unfortunately, the fact that your best candidate has accepted your offer is no longer a guarantee that they will actually show up on their first day.
The war for talent is raging.
And since all is fair in love and war, your newly signed candidates:
- Could still be interviewing and receive a better offer.
- May receive a better offer from another company with whom they interviewed before, but who has a slower recruiting process.
- May receive a counteroffer from their current employer.
You don’t want to lose your best candidates in the last second, right?
This is why your onboarding process should start at the moment your candidate accepts your offer. A great onboarding process will help you keep your new employees engaged and excited until their start date at your company.
How can onboarding help you retain talent?
A successful employee onboarding program helps to improve retention, engagement, satisfaction, and productivity of your new employees.
According to the Society For Human Resources Management (SHRM):
- 69% of employees are more likely to stay with a company for three years if they experienced great onboarding.
- Organizations with a standard onboarding process experience 50% greater new-hire productivity.
- 54% of companies with onboarding programs reported higher employee engagement.
Your onboarding program will do more than just help you retain new employees.
However, it is also a great method that can help you ensure the successful outcome of your hiring process.
This is why every company should invest some time and effort to learn how to successfully onboard new employees.