That’s the highest number since December 2006! Employees are feeling confident that the job market is expanding and they can easily find another position. High employee turnover costs businesses in time, money and productivity. (A recent CareerBuilders survey shows that 42% of respondents said that replacing an employee within the preceding year cost their company $25,000 or more.)
What are you doing to retain your top talent? There are endless articles about employee retention that list ways to keep employees happy and engaged: proper compensation, provide perks (Taco Tuesdays!), employee development plans, promote from within, etc., etc.
However, employee retention must start from DAY ONE by providing the new employee with a positive onboarding experience. Your onboarding solution should be configured to manage the entire lifecycle of your employees – from dynamically created offer letters to new hire packets, I-9s, W-4s, benefit forms, direct deposit forms and training videos, straight through to exit interviews/surveys. The entire onboarding process should be completely paperless and automated. The system should be easy, efficient, configurable and cost effective, and should engage the new hire with proactive “tasks” to ensure successful and timely onboarding. The new employee should be able to access your onboarding portal from his or her home computer or mobile device to complete the process BEFORE starting with the company.
With an automated onboarding process, on day one your new employees can be ready to start engaging in their jobs and with their new colleagues, and not be spending hours filling out paperwork. That makes for a positive first day of work!
Take a look at your onboarding process. Then view CARCO’s Onboarding Solution demo to see if you are doing all you can to ensure employee retention from day one!
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