February 14th, 2017 | Debbie Lamb, Sterling Talent Solutions
Keeping the “Honeymoon Period” Alive With Your Employees
Candidate retention and happiness in the workplace are two key components of a successful business. Companies realize that it is becoming increasingly more important to create a better candidate experience from the very beginning-starting with the hiring process, background screening, onboarding and first few months on the job. According to Talent Management and HR (TLNT), 33% of employees knew whether they would stay with their company long-term after their first week. It is crucial for employers to engage with new hires early and often with a specific strategy and goal in mind. From the employer point of view, 78% rank employee retention as important or urgent. Turnover can be one of the most expensive problems at a company; research on the costs of replacing an employee range from 20% of their salary to 150%, depending on how you calculate it. The cost of employee turnover and the benefits of having and retaining well-trained employees are top reasons for employers’ retention concerns.
Employee well-being is reflected in everything a company does from production to promotion. If employees are happy, they tend to work harder and be more productive. There is less turnover, higher revenue and smoother operations overall. Employees who felt they worked in a loving, caring culture reported higher levels of satisfaction and teamwork and they showed up for work more often. From the way you onboard your employees to your daily interactions as a team, it’s the small gestures that help to retain your employees and make them feel loved.
When it comes to expressing your gratitude, there’s a lot of great ways to spread the love to make sure that the “Honeymoon Period” never ends:
- Develop a Personal Relationship – Take the time to listen to your coworker’s thoughts, goals and ambitions.
- Provide Support – Make sure you offer support to your coworkers and look for ways to help each other out when the client has a last minute demand, or you’re running up against a tight deadline.
- Invest Your Time – From weekly one-on-one meetings to team outings, it’s important to understand the unique needs of each employee and create a plan tailored to helping them thrive.
- Give Praise – Make sure you’re sharing positive praise with your coworkers via departmental E-mails, team awards or an extra PTO day.
- Communicate Daily – For any relationship to be truly successful, regular communication must take place. Consider using your company intranet and video calls on a more regular basis to help employees feel connected wherever they might be.
Sterling created “5 Tips to Keeping the “Honeymoon Period” Alive With Your Employees” to share thoughts on how to have a positive candidate experience from applying to onboarding to the first six months on the job. To help you get it right from the beginning, you can download our eBook Your Complete Guide to Onboarding From Decision to Day One.
This publication is for informational purposes only and nothing contained in it should be construed as legal advice. We expressly disclaim any warranty or responsibility for damages arising out this information. We encourage you to consult with legal counsel regarding your specific needs. We do not undertake any duty to update previously posted materials.