The Great Resignation has made it more challenging for HR teams to attract top candidates. Oftentimes, teams reach and hire talented candidates only after rigorous searches on multiple job platforms and issue-free interviews. After spending this time and effort on hiring the perfect candidate, it's natural to expect new employees to stay with the organization for at least a few years. However, research shows that about 33% of new hires look for a new job within six months of their employment at an organization.
We know you don't want to hire and train employees only to have them leave after six months. Introducing relevant strategies will help new hires acclimate to your organizational culture and remain satisfied with their role for years to come. Here are five different ways to retain new hires at your organization:
Keep your new hires well-informed
The first step to retaining new hires is to ensure they feel welcomed and involved. It's necessary to build a sense of belonging right from their first day. For example, during the new hire orientation, you can help employees understand the ins and outs of your organization. Talk about your products, your target audience, what your company stands for, and what it aims to achieve in the long run. Highlight your organizational culture and explain how your workplace practices align with it. Let your employees know how performance reviews, raises, and promotions are handled at your organization. You can also encourage managers and their team members to be more welcoming toward new hires if you notice challenges in this area. You might assign workplace buddies from within the same stream of new hires for built-in support.
Set clear goals from day one
For your new hires to understand their responsibilities and gain a clear sense of direction, it's important to give them objectives on their first day. Ensure that these objectives align well with the job description; otherwise, your new hires will feel deceived. At the same time, it's necessary to set goals that are both achievable and appropriately challenging for somebody who's starting a new role. Encourage managers to help new hires visualize what success will look like as they move forward. Managers should also have a clear process in place to measure new hire performance.
Provide the necessary training
Training is of utmost importance when it comes to retaining new hires. Without it, your employees may feel incompetent in their new roles and lack job satisfaction. This will eventually force them to find a new job. During onboarding, comprehensive and flexible training programs led by experienced instructors can bring new hires up to speed. Before deciding on the curriculum and lesson plans, it's best to discuss key learning points with managers and employees who can ensure the training program is relevant and useful. You'll also want to include tasks that will give new employees hands-on experience.
Recognize good work
Once your new hires dive into the actual work, managers should evaluate their work regularly and recognize their efforts to keep them motivated and committed to their goals. Help your managers understand the fine line between micromanaging new hires and following up regularly to offer support, feedback, and recognition. Make it a point to understand and appreciate the new ideas that they bring to the table. Here's an article from our HR Knowledge Hive that elaborates on eight different ways to recognize and appreciate employees.
Receive feedback and improve regularly
If you're looking to enhance your new hire management strategies, it's crucial to understand what they expect and which of the existing practices require improvements. Receiving feedback from your new hires and putting it into practice is a surefire way to keep things running smoothly and positively impact how they perceive your organization. After new employees have been at your company for a few months, send out a short survey. You can ask about how they feel about your onboarding, training, and performance management approach, as well as if they wish to see any changes in those practices.
Improving new hire retention
Focusing on new hire retention is a surefire way to reduce your hiring costs, improve employee morale, keep employees productive, and boost your brand reputation. We hope this blog gave you a clear idea on the different ways to improve new hire retention.
Also Read: What are the four phases of onboarding?