A GUARANTEED WAY TO LOSE THE BEST TALENT…
…Learn the critical steps of on-boarding used by the top companies in America.
By Travis Jones – CEO of Career Development Partners
If you or your company are not on-boarding your new employees from the top level to the lowest, you are going to lose the war for talent and your company’s competitive advantage in the worldwide market. There is a shortage of great employees in the job market and voluntary turnover with new hires is on the rise.
Some staggering facts:
- 31% of new hires quit within 6 months
- 4% leave and never come back after the first day
- 50% of new employees hired exit in 3 years or less.
- In the last 15 years, the failure rate for new senior executives is 40% in the first 18 months
Being in business is tougher today than ever before. As we have seen in reviews, like the Harvard Business School report, 75% of new business start-ups fail within just a few years. Since 2000, 52% of the companies listed in Fortune 500 are no longer in business today.
The value of good on-boarding cannot be underestimated.
- Reduced recruiting costs
- Reduced turnover
- Increased productivity
- Knowledge transfer is key to long term success
You cannot afford to leave your new employee’s success to chance. It takes time and a budget to support an effective on-boarding process. The cost of turnover can range from 50% to 200% of an employee’s annual salary.
A few steps to consider in your on-boarding process:
- Develop clear expectations for the role both the employee and the leadership play
- Outline what success looks like for the employee and the organization
- Discuss self-awareness and leadership styles for success
- Explain organizational culture and patterns for a positive impact
- Align goals with the company’s goals
- Evaluate the team members and the necessary behaviors for success
- Develop collaboration and working relationships across the organization
Career Development Partners has successfully helped both candidates and clients to implement successful on-boarding processes. In our experience the inclusion of external resources makes the process more efficient.
Travis has been an entrepreneur and business owner in Tulsa for over 30 years. He is a well-known community servant and is dedicated to providing world-class service for everyone we encounter.Travis is a certified Life Options Retirement Coach and is certified to facilitate and deliver the Manager As Coach Learning Series (MACLS) through CPI. He serves on the board of Career Partners International (CPI) and is an equity partner in CPI, offering a global reach with over 220 offices. Prior to Career Development Partners, Travis served as President of Personnel Consultants, a professional staffing and placement company which consisted of 6 offices located in Oklahoma and Arkansas. Under his leadership, Personnel Consultants was the recipient of Inc. Magazine’s Award for the 135th fastest growing privately held business in America in addition to being named by Oklahoma Business Monthly as one of the best companies to work for in Oklahoma. He sold the company in October 2005 to PeopleLink Staffing and purchased Career Development Partners in November 2005. Travis serves on the Elder Board at Tulsa Bible Church, on the board of New Life Ranch and is a proud member of Tulsa Executives Association (TEA) and is active with several other organizations serving the community and beyond. Email: firstname.lastname@example.org
Contact our office for a free consult on how to improve your on-boarding process.
Our goal is to help our participants and clients to make a sizable differences in the workplace in a timely manner.