
05 May
Posted by admin as Retention, Talent Management
Many of the seasonal hires in the hospitality industry have been made so the question that now be addressed is: “What comes next?”
The January 2009 study Fully on Board from the Aberdeen Group showed us that 83% of best in class companies use recommended onboarding processes and realize:
• 31% year-over-year increase in retention rate of new employees.
• 31% year-over-year increase in new employee engagement.
• 24% year-over-year decrease in time-to-productivity for new employees.
• 12% year-over-year decrease in cost per employee for onboarding.
Some of the recommendations that came out of the research:
• Focus on assimilating new employees into the organization’s cultural and social frameworks
• Measure new employee engagement and retention frequently in the first year.
• Standardize the onboarding process and centralize its management.
• Extend the application of onboarding beyond new hires. Include transfers and acquisitions.
• Start earlier and make it last longer.
So now that you have made your new hires, what practices have you put in place to retain them?
One Response
Sue Edwards
May 6th, 2009 at 5:56 pm
1Great to see Onboarding being addressed.. the new hire expereince is one of those critical moments of truth for the employee-employer relationship. Some refer to this an an “engageable moment” because, as you point out, the onboarding experience has a significant impact on engagement and retention.
Some of the leading employment brands in the Hospitality Sector are well-known for the exceptional onboarding experience that they provide for new hires. The Ritz Carlton gets frequently-mentioned for its focus on creating memorable experiences just as they would with a guest. “People don’t remember what you said or did, but they always remember what they felt”.
So…I would encourage anyone in this industry to think about “How are you generating a memorable moments” in the early days of new employment.
Anyone who is eager to hear what various organizations are up to with respect to onboarding is welcome to join the Onboarding Best Practices Group on LinkedIn http://tinyurl.com/6tq5zs
Sue Edwards
http://www.clearingthe90dayhurdle.com
Follow me on Twitter for Onboarding Tip of the Day: http://twitter.com/onboardingcoach
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