Candidates: Are you interviewing and need support?
Does your company woo candidates sweetly and then leave them to fend for themselves after putting a ring on it? If so, you’re generating higher turnover and spending a lot more money than people who get onboarding right. Ben Peterson, co-founder and CEO of BambooHR, says the key to retaining great employees is to never stop recruiting them. HR doesn’t just need to craft an amazing candidate experience. It needs to extend the candidate experience into the onboarding process.
Bad onboarding is the fastest way to let candidates know they’re committed, and the honeymoon’s over. It’s also one of the biggest ways your HR department is throwing away time and money.
Right now, 79 percent of business leaders surveyed say onboarding is a top priority. And for good reason—according to Boston Consulting Group research, good onboarding correlates with more than doubled annual profit growth and almost doubled annual profit margin growth.
Spending money improving your onboarding process saves money on the back end. It will also create a far more loyal and hardworking workforce. According to the Corporate Leadership Council, employees increase their discretionary effort by 20 percent when they’re onboarded correctly. Good onboarding, according to Peterson, follows a model developed by >George Bradt: accommodate, assimilate, accelerate.
Building and coaching great teams is about a lot more than just getting great candidates in the door. It’s about never forgetting the proverbial chocolates, roses, and anniversary diamonds. In other words, never stop wooing.