Hiring new employees requires a lot of time and resources. And when these new employees leave, it makes a big impact on your bottom line. According to BambooHR, 45 percent of HR representatives estimate that over $10,000 is wasted on ineffective new hire onboarding every year. Employees jump ship for many different reasons, and while some of those situations are out of your hands, a few simple fixes can make hire retention effortless. Here are three reasons why your new hires are leaving, and what you can do about it.
Just like first impressions were important for your new hire, his or her first impression of your company is crucial upon onboarding. If your company’s onboarding process is unorganized and lackluster, that reflects poorly on your company. Not being given all the proper tools in a structured manner is frustrating and defeating for someone stepping into a new role. They are left feeling as if they are being set up to fail from the very beginning. A smooth and detailed onboarding process is essential for companies that are looking to hang onto new hires. Invest in quality on the job training, look into implementing a mentor program, and make sure all handbooks and documents are modern and easy to digest.
Ineffective or out-of-date training tools set a bad tone for new hires, and studies show that it’s one of the most common reasons why new employees quit. Look into a high quality training program and pair it with training tracking software like Conductor Orchestrating Training. Superior software makes life easier for the new hire and your human resources manager. With Conductor, human resource managers can access, maintain and manage all of their employees training metrics in one location. Conductor’s all-inclusive training software tracks data, catalogs training materials, allows managers to assign tasks, and serves as an electronic role and grade book. Employees may also view their curricula and take computer-based training modules from any workstation on a local area network. With the student portal, employees can review and print reports about their educational history and current progress. Conductor also monitors and records their sessions, checking to see if any applicable certification or license requirements have been met, giving the students important goals to be met.
Lack of communication.
Communication is important in any relationship, including a new employee and their manager. It is crucial that the new hire and the manger frequently discuss what is or is not working. Emphasis should be placed on the importance of this upon hire so everyone is on the same page from the start. A good way to establish this communication pattern is a 90-day review. Quick, check-in style meetings leading up to the official 90-day review will help increase employee success and define expectations for everyone. Consistent feedback from both parties is not only important during onboarding, but throughout any employee’s duration at the company.
With an upgraded onboarding process, streamlined training and better communication, high turnover at your company will be a thing of the past. With these tips not only will you keep your new hires, but you will also be able to retain your current employees as well. Complementing your revamped training with a tracking program like Conductor allows your managers to track new hire progress, communicate with them efficiently, and produce high quality reports. It allows your new employees to work from anywhere and track their own progress. This saves your company a lot of time and puts you and your new hires on a path to success. Click here for your free trial of Conductor Orchestrating Training today!