How to Ensure Onboarding and Retention Success

The journey from talent acquisition to long-term retention is a critical one, and it requires a strategic and proactive approach.

It’s no secret that organizations face challenges when it comes to onboarding and retaining new hires, especially as needs and expectations evolve.

Over my 15+ years of working as a recruiter and helping firms like yours attract and retain top talent, I’ve experienced firsthand the challenges faced, and also the ways in which you can overcome them.?

Effective Onboarding:

Effective onboarding is the cornerstone of a successful employee-employer relationship. Statistics reveal that 69% of employees are more likely to stay with a company for three years if they experienced great onboarding (SHRM).?

Furthermore, companies with a structured onboarding program in place enjoy 50% greater productivity from new hires (Digitate).?

These numbers underscore the significance of a well-orchestrated onboarding process in ensuring employee engagement and longevity within the organization.

But what does effective onboarding look like?

Effective onboarding goes beyond the basic orientation process and encompasses a comprehensive and personalized approach to integrating new hires into the organization's culture, values, and goals.?

It involves providing clear job expectations, introducing them to key stakeholders, facilitating connections with colleagues, and offering opportunities for skill development.?

Effective onboarding establishes a strong foundation for the employee's journey, ensuring they feel supported and engaged from day one.?

If you’re curious to learn more about the key components of effective onboarding and retention, I’ve put together a resource all about attracting and retaining top talent for a detailed blueprint on creating a successful onboarding experience. You can access it here.

Retaining Top Talent:

The average voluntary turnover rate in Canada last year was 15.5% (Mercer), an increase on the previous year. With high turnover rates significantly impacting on your organization's bottom line, not to mention the cost of replacing an employee ranging from one-half to two times the employee's annual salary, it’s essential to have a solid retention strategy in place.

Key Retention Tactics to Keep New Hires Engaged:

1. Personalized Onboarding Plans: Tailoring the onboarding process to individual new hires can significantly enhance their sense of belonging and purpose within the organization.
2. Mentorship Programs: Pairing new hires with experienced mentors creates a support system and accelerates their integration into the company culture. A recent poll of my network found that mentorships and coaching is a significant factor when looking for a role.
3. Continuous Feedback Loops: Regular feedback and check-ins help new employees align their goals with the company's objectives, fostering a sense of ownership and contribution.
4. Offer Flexibility: There is a growing expectation among top talent for flexibility in how, where and when they work. In fact, 77% of participants in a recent poll highlighted remote / hybrid work as an essential factor in a role. With an increasing number of competitors offering remote work options, failing to incorporate these practices can put an organization at a disadvantage when it comes to attracting and retaining top talent.

Want more insights into attracting and retaining top talent?

There’s so many aspects to consider within your talent acquisition and retention strategy that it can feel overwhelming, so I’ve collated my insights over 15+ years in recruiting into this guide.?

In the playbook you’ll find a comprehensive guide to help you to explore and identify the most effective strategies to help your firm position yourself as a great employer, attract great people, and get them to stay, featuring up-to-date statistics sourced directly from candidates.

Click here to view the playbook?

By implementing the tactics discussed in my playbook, your firm can enhance its talent acquisition and retention efforts, leading to a more successful and thriving organization.

If you have any questions, don't hesitate to reach out - I am here to support and guide you through your journey.

If you’re ready to take your firm to the next level, let’s connect.

I hope you found the information in this newsletter valuable. I send out regular monthly newsletters with more tips and insights to help you hire and retain top talent, covering topics like:?

- Inflated Salaries and Meeting Candidate Expectations

- Screening techniques to quickly identify top candidates?

- Creative sourcing strategies to tap into passive talent?

- Effective interview practices to assess cultural fit?

- And more!?

Make sure to subscribe / connect so you don’t miss my next article.?

Stephen Lecker

Partner at Minted Search Group

[email protected] | P: 416.660.2328