How Important is a New Hire’s First Day?
“Half of all hourly workers leave new jobs within the first 120 days,” according to the Society of Human Resources Management (SHRM). That eye-opening statistic is the reason managers and human resources professionals take a proactive approach toward onboarding and retention. If you want to promote your company’s brand, maximize revenue, maintain positive morale and decrease cost, you will make your new hire’s first day builds a foundation for a long-term career with your company.
What is Onboarding?
Onboarding is a process that means more than new hire paperwork completion, orientation and a tour of the facilities. It is pivotal to the success of the new and your business. It sets the tone for what employees can expect. SHRM reports, “Organizational socialization or onboarding is a process through which new employees move from being organizational outsiders to becoming organizational insiders.” It eases fear and builds trust.
Importance of New Hire Training
SHRM’s report, “Onboarding New Hires,” states, “The faster new hires feel welcomed, the quicker they can contribute…” Happy employees are productive employees in every aspect of your business,e.g., customer service, marketing, sales, and management. Recruiting and selection are priorities, but strategic onboarding is also vital.
Types of Onboarding
You need to determine whether a formal or informal onboarding plan works best for your company. A formal strategy requires a written set of policies and procedures that help employees adjust to a new job. Tasks and socialization entail weekly, monthly or quarterly activities. Team members openly support the new hire. Self-service onboarding software like this may be used.
An informal plan does not include structure. Employees learn by on-the-job immersion, a kind of trial-by-fire approach that can end in ambiguity. It should be noted that performance will suffer if expectations are not clearly defined. Studies reveal that employees in the United States and the United Kingdom lose $37 billion because employees do not understand their jobs (MarketWired).
Initiatives for the New Hire
Effective onboarding requires the active participation of the new employee. Stay engaged in small talk, meet with team members for lunch, volunteer for company functions. Establishing a relationship with his supervisor and assuming additional responsibilities are also key.
The bottom line for a well-developed Onboarding strategy is simple: long-term success. All employees can be brand ambassadors. A great first day resonates with new hires, not just on that first day, but for years to come.