How do you up your employee onboarding and retention game amid (yes, it is true) The Great Resignation? The onboarding process often goes overlooked until it’s too late. But with a strong process in place, you can set up new hires for success from day one.
In fact, Glassdoor research says organizations with a strong onboarding process improve new hire retention by as much as 82% and productivity by 70%. Those are big numbers. And in today’s tight talent market, they make onboarding hard to ignore.
So, how can employers make sure onboarding efforts are up to snuff?
Our Guest: Laura Lee Gentry
On this latest episode of the #WorkTrends podcast, I speak with Laura Lee Gentry, Chief People Officer at Enboarder. At Enboarder, Laura Lee is responsible for talent acquisition and onboarding, total rewards, talent management, leadership development, internal communications, and employer branding.
Let’s talk about onboarding and retention. Why is it so challenging these days? And why does there seem to be a disconnect between candidate experience and employee experience, Laura Lee?
“It’s about communication and perception. The things that aren’t said can lead to a disconnect between expectations and the reality of a new job. Being less than explicit can create the wrong interpretations. Hiring managers and recruiters need to be transparent about the company and the opportunity. They also need to be super clear that business needs might call for a pivot to avoid the whole like, ‘Well, that’s not my job’ conversation.”
Focusing on Retention
It’s clear we need to rethink hiring strategies and focus on retention…
“It’s interesting that people are following the market as opposed to getting out in front of it. For example, recruiting versus retention. It costs a lot more money to hire a new employee rather than retain your best talent. It costs between 50 and 150% of an employee’s salary to replace them. Beyond the cost of losing and replacing an employee, you’ve got all sorts of additional costs, like productivity and team morale. It can even impact revenue if it’s in a revenue-generating function.”
Managing The Great Resignation Challenges
As companies shift focus from hiring to retention, they need a true employer brand. For a company to build an employer brand based on integrity, it’s important to focus on offering a fantastic experience across the entire employee journey. This helps people become more passionate and engaged in their work.
What are HR leaders investing in right now to address hiring and retention challenges during The Great Resignation?
“A lot of HR leaders are turning to technology to support their hiring, onboarding, and employee engagement needs. Trying to not only create a more high-impact experience but also to increase the impact of their HR teams without adding headcount.”
Onboarding never really stops. Companies must deliver great experiences in the initial onboarding phase and beyond—throughout the employee journey…
“If you think about an employee’s career journey with a company, there are many opportunities around what I call defining moments, focusing on any moment of transition. There are peaks and pits, but also beginnings and endings. We all remember the first and last day of school, the first day of a new job. These are all defining moments or moments of transition, which is why they’re so memorable.”
How can we turn defining moments for employees into absolute peak experiences?
“Transitions inherently carry an element of risk and uncertainty. So they’re often the moments when employees feel the most vulnerable, which is why they’re so powerful. Leaders have the power to turn someone’s defining moments into positive defining moments with the right training, development, and understanding of what best practices look like in those moments.”
Excellent advice from Laura Lee Gentry!
I hope you found this #WorkTrends podcast episode helpful. To learn more about effective onboarding and retention, and how to improve the impact of your people programs, visit Enboarder at: https://enboarder.com/.