How to Avoid Losing Newly Hired Employees? Recruiting the top employee takes time, money, and effort, but the value they offer to your company pays off in the long run.
To prevent losing your new recruits in a handful of months, it’s critical to build a good retention strategy. Here are some strategies for getting new employees to commit for a longer period of time.
Give a realistic overview of the task
It’s difficult to adjust to a new job on the first day, especially if it’s not what you expected. Employees will quickly plot their escape if the job description and culture do not match reality.
Sitting in on a job interview with a former employer, the candidate was fed lies about the company’s work-life balance and training obligations, among other things. It creates a false expectation, and people will leave an employer if they believe they have been misleading.
A realistic overview of the job, including both the positive and negative aspects. This takes courage, but in the long run, it’s best to be truthful. Only a few jobs are ideal in every way.
Offer assistance and feedback
Employees are more inclined to stay for the long run if they feel supported. Support can be given in the form of constructive criticism and acknowledgment of their efforts.
People value recognition, so make sure they know their hard work and accomplishments are being appreciated. It can also be given in a more formal setting. If you hired someone for a medium-sized company, the organization should provide an external coach to help them transition to their new position.
It can take a month to find a new employee, and they want to make sure that the person feels supported and that they’ve made an investment in them to help them transition.
Of course, this strategy can be used with any new hire, whether a CEO or a graduate and can take various shapes depending on their level and requirements. An example would be a new starting workshop or a one-time coaching session.
From the beginning, provide useful training
Employees are more likely to stay with a company that invests in their future. And because much of learning and development can be done on the job, it doesn’t always necessitate a large training expense.
For learning and development, many organizations have embraced the ‘70:20:10‘ model. The 70% consists of what they are learning or practicing on the job, while the 20% can involve mentorship or coaching, and the 10% is formal learning through courses.
Spend time on a thorough onboarding process
Onboarding is more than just providing an employee with the necessary tools to get started.
Onboarding is a longer-term process that can boost employee engagement by making them feel welcome, exposing them to your company’s values, and providing them with the resources they need to thrive.
Onboarding does not end on the first day, and it entails more than simply handing them a copy of the company’s policies. It should also include continuing dialogues about what an employee is expected to provide, their aspirations, and how you can help them achieve those goals.
Set clear expectations that both of you can live up to.
On day one, some employers provide a list of key performance indicators (KPIs) to new hires, which they revisit during a formal performance review. This strategy can make it difficult for employees to stay with a company.
Making performance a part of a larger conservation effort with them can help to shape their future professional development. This allows people to see themselves working with you in the long run.
Employees and hiring managers should agree on what success in the role entails. Rather than simply handing them a contract and a job description, it’s a good idea to create a plan on paper, agree on a set of goals, and figure out how they’ll be supported to meet those goals.
When exceptional people leave the company, especially if they’re a recent hire, it’s frustrating – and costly. A strong retention strategy, on the other hand, can help you keep people past the first six months, promoting a valued longer-term commitment to your company.