By: Cord Himelstein, Vice President of Marketing and Communications, Michael C. Fina Recognition
The U.S. Bureau of Labor Statistics reports that in some industries, the average job tenure has shrunk to little more than two years. Now more than ever, building relationships and introducing new employees to the company culture early on is critical to fostering long-term loyalty. The first days, weeks, and to a larger extent, the first year at a company is a crucial time when the employee decides if their new job is a good fit. That’s why 23 percent of new hires turnover before their first anniversary. Replacing them also costs between 16-20 percent of their salaries!
No matter the employee, everything must be done to make those first moments of connection rewarding and invigorating. Integrating employee recognition into onboarding creates great opportunities for companies to connect with and support employees as they adjust to the culture. Even though layering employee recognition efforts into onboarding efforts can boost early engagement, a recent Michael C. Fina Recognition survey of HR professionals showed that only 33 percent of organizations currently do so. For shame!
A commitment to recognizing workers prior to their first day, on their first day, and throughout the first year of employment can help accelerate cultural adoption and greatly increase the chances of them staying longer. These efforts need not break the bank either. Here are some of the most popular budget-minded ways organizations are helping new hires feel welcome:
Onboarding Kits: Offering a customized onboarding kit with a personalized gift—and making an employee’s first day a recognition event—can help a new hire get acclimated more quickly. This can be something as simple as a swag bag with a customized t-shirt and other personalized gifts, although some companies create an entire onboarding experience to introduce employees to company values, expectations, and the overall work journey.
First Day Festivities: Many organizations celebrate employees on their first day with a special breakfast or lunch with coworkers. This is a great opportunity to make personal connections with peers—an important factor in retention. Also, making sure managers spend a good amount of time on the introduction process can ease any anxiety a new hire might have as well as speed up the acclimation process.
Extra Manager Involvement: Beyond introductions to the team, establishing a positive manager-to-direct-report relationship is a silver bullet for voluntary turnover. According to Gallup, only 1 in 5 employees say their performance is managed in a way that encourages them to do outstanding work. Setting regular progress meetings and having informal touch-base conversations help ensure the new hire knows someone is always available for consultation and support.
The onboarding phase has grown in importance over the last decade but with job tenures shrinking it is becoming mission-critical. Integrating recognition program strategy with the onboarding experience is the best way to encourage personal relationships, show new employees your commitment to their satisfaction, and start building loyalty and engagement from day one.
