Lesson 2: Topic 8 of 21
People are definitely a company’s greatest asset. It doesn’t make any difference whether the product is cars or cosmetics. A company is only as good as the people it keeps.Mary Kay Ash
According to a study cited by West Edge Solutions, the expense of hiring and onboarding a new employee varies between 25% ― 200% of the individual’s annual compensation. Higher salaried employees are of course more expensive to recruit, but even replacing a dishwasher, a laundry aide, or other low wage employee easily runs several thousand dollars each. That’s wasted money. So after recruiting the right people, convince them they made the right decision in accepting your job offer.
You’ve heard it again and again: You never get a second chance to make a first impression. It’s true of personal relationships, it’s true of marketing, and it’s true of new hires. You (hopefully) sold them on the company culture during the hiring phase; now emphasize it during the orientation phase. This is your opportunity to make them confident they made the right decision in accepting the job offer. Buy-in by the new staff is critical to stop the revolving door.
Pinnacle Research claims that, of all industries, long term care workers were the most likely to quit their jobs within their first 100 days of employment. One of the biggest complaints of these employees is having to hit the floor on day one with the feeling they don’t know what’s expected of them or what will come their way. We call it ‘being thrown to the wolves’ or ‘baptism by fire’ or use other euphemisms, but it’s interpreted to mean you, their boss, don’t respect them as persons.
Onboarding should be designed to prepare new employees for success. It cannot be overlooked. Yes, when you’re short-staffed it is tempting to omit adequate (in some cases, any) orientation, but doing so immediately sends the worst possible message to your new hire. Instead, show off your company culture ASAP by making sure they receive a good onboarding experience. When reviewing your business’ mission, vision, and value statements with new recruits, show them how those elements are integrated into their work roles and daily responsibilities.