The demand for companies to retain top talent is escalating. And, yet, companies often spend very little time in onboarding new hires. In a recently published survey of HR managers by job site CareerBuilder, 16% said poor or non-existent onboarding lowers their company’s productivity, 14% said it brings on greater inefficiencies, and 12% said it leads to higher employee turnover. Another report by the Harvard Business Review notes that 32% of global executives rate the employee onboarding they experienced as poor and replacing each failed executive can cost a business up to 213% of his or her salary.
Employee turnover is never desirable, but, unfortunately, it's becoming more and more prevalent. The latest studies suggest that the average employee tenure is about four and a half years. This high turnover rate costs businesses huge sums of money every year.
What can your company do to combat this alarming trend? In this blog post, you'll learn three top ways to better retain your talent. Let's dive in!
It's been said that a company is only as strong as its employees. If that's true (and we think it is), there's an enormous responsibility on HR departments to find, vet and, ultimately hire the perfect team members. And the quicker the better!
As an HR professional, you're well acquainted with the practice of onboarding. But if your company has never made doing it well a priority, you may not have a full understanding of it's benefits.
We'll attempt to remedy that in this blog. We'll explain why proper onboarding of new employees is so important, and how to do it effectively using the four C's approach. Let's jump in!
Paper is everywhere — especially for HR professionals. You receive and pay invoices with it. You fill out forms and sign contracts on it. You probably even use sticky notes (i.e. adherent paper) to remind yourself to complete different tasks.
But have you ever stopped to consider the cost of all that? We did, and it really starts to add up! In this post, we'll take the time to familiarize you with the numbers. They just might surprise you and make you consider "going digital." But you'll have to decide that for yourself after reading.