Onboarding, Compensation, Transparency, and Hiring
1.Failing to onboard properly
It’s high time employers and recruiters realize the importance of an employee’s first 90 days at a firm. I know of multiple instances of employers ghosting their new hires on their first day. At my firm, we work with clients to streamline the new hire experience in order to maximize long-term retention. These initial months are crucial in terms of training, building trust, and maximizing job satisfaction.
2.Not offering competitive compensation
What many employers don’t realize is that many new hires accept a job offer while actively interviewing at other companies with slower recruiting processes. Your new employee might be waiting for an answer from a company offering better compensation but has accepted your offer in case they get rejected by the other employer. It’s therefore essential to compensate fairly and not overburden your staff with duties disproportionate to their pay scale.
3.Avoiding transparency during interviews
It’s common practice to understate the job duties when interviewing candidates, and it hurts retention rates when new employees realize they’ve been misinformed. I strongly recommend interviewers learn about the job role in advance, enough to provide a realistic overview of the daily responsibilities associated with the position.
4.Hiring the wrong people
In the end, the more effort you make in matchmaking candidates and open positions, the higher the chances of their long-term retention. Besides hard skills, try gauging soft skills necessary for the role. Evaluate the candidate for culture fit and look for retention red flags such as a history of unexplained job hopping or resume gaps.
