5 Strategies For Retaining New Hires with Limited Resources
Catapult Employers Association
Serving thousands of employers with a wide array of HR and people resources. #letscatapult
According to our recent Recruiting poll, 40% of employers claim that retaining new hires is the biggest recruiting challenge. Couple that with limited resources; overcoming this challenge can feel like a losing battle. At Catapult, we understand the importance of retention in sustainable organizational growth and have developed comprehensive solutions to help organizations attract and retain top talent.
To help support your retention efforts, we've shared the top 5 strategies for retaining your new hires:
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The Top 5 Proven Strategies For Retaining New Hires
1. Onboarding Services: Setting the Stage for Success
According to a recent isolved report, HR leaders have increasing concerns about rising employee experience expectations, citing it as the top threat to talent retention.
Effective onboarding is crucial for retention. When there is a disconnect between what employers believe they are offering and what employees actually experience, it will often be challenging to retain the talent you recruit (HR Dive). That's why ensuring your onboarding strategy is seamless and thorough is so important.
Catapult's onboarding services ensure new hires feel welcomed, informed, and ready to contribute from day one. By creating a structured and engaging onboarding process, we help organizations:
Additional Resources:
Catapult Members: Visit the Member Hub and explore our New Hire and Onboarding Toolkit for FAQs, checklists, and more to help streamline your onboarding process.
Interested in Catapult's onboarding services? Contact Catapult's Director of HR Products and Technologies, Kevin von der Lippe , at [email protected].
2. Compensation Plans: Attracting and Keeping Top Talent
"Have you noticed employees talking about their pay more? While once taboo, discussing pay is now the new normal. This shift to open communication and transparency reiterates the importance for organizations to have a proactive and transparent approach to their compensation strategy. The more visibility an organization has around decisions regarding pay, the greater opportunity for attracting, retaining, and engaging employees." - Jackie Esposito, Catapult Compensation Advisor & Business Partner??
A competitive compensation plan is a key factor in retaining employees. At Catapult, we help organizations design compensation strategies that are both attractive and sustainable:
Catapult Members: Visit the Member Hub and explore our Compensation Toolkit for helpful templates, forms, and more. Premium members can also access Payscale Peer to conduct real-time analysis of thousands of job titles, ensuring that you have the knowledge to remain competitive.
Interested in Catapult's compensation consulting services? Reach out to Jackie directly at [email protected].
3. Supporting HR New Hires: Professional Development and Advisory
Investing in your HR team's professional growth is essential. Catapult offers resources and support to help HR professionals thrive:
Member Experience | "I’ve worked with Catapult Employers Association for over 15 years and highly recommend them as a resource for companies both large and small. They are the experts in all things HR! Their team goes above and beyond to equip their clients with everything they need to successfully manage and maintain their HR department. The training they offer is superb, HR advice line is invaluable, and the many other service offerings they have for clients makes it an all-inclusive solution for your HR needs." - Jeannette Anselmo, Signature Healthcare, PLLC
Interested in learning more about Catapult membership? Click here.
4. Learning & Development: Empowering Managers and Employees
Learning and development play a crucial role in employee retention. Luckily this summer, we've made engaging with your employees easy with our member-exclusive Career Essentials Bundles.
Whether you’re starting your new role, aiming to climb the career ladder, or simply looking to enhance your skills, our specialized learning tracks offer the perfect solution:
Each bundle features three courses offered multiple times between June and December. The bundle must be completed by the end of 2024. Email [email protected] to register!
Member Experience | "My small SaaS company hired Catapult to provide a 6 session virtual manager training called Leadership Development. Our newer and seasoned managers alike appreciated the topics, resources, presentation, and ability to practice skills in a safe environment. Our trainer, Nelson, set us up for success. I highly recommend Catapult, the program, and the trainer. We will be setting up follow up continuing developmental sessions soon." - Laurel Miyake, ClearPoint Strategy
5. Recruiting: Evaluating Your Hiring Process
While the other 4 strategies focus on post-hire, your hiring process also plays an instrumental role in retention, as it ensures that the right candidates are selected to fit both the job role and company culture. By meticulously evaluating and refining your hiring process, you can identify individuals who are not only qualified but also align with your organization's long-term goals. This alignment fosters job satisfaction and engagement, leading to higher retention rates. Investing in a thorough and effective hiring process ultimately saves time and resources by reducing turnover and cultivating a stable, committed workforce.
Our Catapult Recruiting Solutions provide a tailored approach, whether you need assistance with specific aspects like job posting and sourcing or comprehensive support throughout the entire recruitment life cycle. We offer expert guidance and customized strategies to ensure you attract, select, and retain top talent efficiently and effectively. Learn more.
Interested in Catapult's recruiting services? Email Recruiting Lead Shannon Leonida at [email protected] to get started.
Key Takeaways
At Catapult, we are dedicated to helping organizations overcome the challenge of retaining new employees through comprehensive solutions that address every stage of the employee lifecycle. By investing in effective onboarding, competitive compensation, professional development for HR teams, and robust learning and development programs, employers can create an environment where employees feel valued and motivated to stay long-term.
Thank you for being a part of our community and for your commitment to building better workplaces. Stay tuned for more insights and solutions from Catapult.