You made the offer. They said, “Yes.” The next challenge is to retain the new hires you’ve invested all that time and money in.
And retaining those new employees is every bit as—if not more—important than hiring the right talent. It’s estimated that an entry-level employee costs 30 to 50 percent of their annual salary to replace, while replacement costs for a high-level or specialized employee can run up to 400 percent of their yearly salary. Ouch!
Here’s how to retain the professionals you’ve added to the team.
- Smooth out the onboarding process.
First impressions matter when you want to retain new hires, and onboarding will be a new team member’s first impression of their new job. Establish processes to ensure new employees can navigate the HR paperwork jungle quickly and efficiently. It’s also important to have passwords, log-ins, and desk space set up before they arrive on their first day.
A retention-nurturing onboarding process should also include any necessary job-specific training, such as how to use an internal project management platform. This will help the new team member feel more confident about jumping into your company’s workflow. Check in with the employee periodically over the next three to six months, too, to ensure they have the tools and support to meet job expectations.
- Offer continuing career development and growth opportunities.
The ability to learn and grow in a career is a must-have for many marketing professionals. This factor is particularly vital for millennial employees; 87 percent say it’s very important for their jobs to provide professional development or career growth opportunities.
Provide marketing team members with the option to upskill through:
- Professional certifications
- Online courses
- Internal training
- Trade shows and industry events
- Create a workplace that offers schedule flexibility.
Building a healthy work/life balance is a key retention component in any marketing department—or in any business, for that matter. For example, National Geographic fellow and author of “Thrive: Finding Happiness the Blue Zones Way,” Dan Buettner, estimates that replacing an hour-long daily work commute with telecommuting creates a level of happiness equivalent to earning an extra $40,000 each year.
Retain top marketing creative, IT, and sales talent by offering a flexible work schedule that focuses on well-defined deliverables rather than how many in-office hours get clocked. Some options include flexible scheduling, work-from-home days, summer Fridays, and compressed workweeks.
- Commit to building and maintaining a positive culture.
Culture matters, whether you manage a three-person team from a co-working space or a distributed team from a corporate campus. Employees are more likely to feel satisfied with their jobs—and more likely to stay—if they feel trusted, supported, and respected.
Build that positive workplace culture and help retain new hires by defining your organization’s goals and establishing clear job expectations. Then, trust that new employee to do the job you’ve hired them to do, and provide support or feedback when needed.
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