If You Don't Bother To Do This With Your New Hires, You're Throwing $10,000 Down The Drain.

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You’re not Google. Neither are you Apple. A-players aren’t fighting tooth and nail for a chance to work on your company. So it’s up to you to attract them with a kickass job description and a great company culture.

But here’s the thing:

Hiring isn’t just about attracting rockstar candidates, and conducting interviews. There’s another piece of the puzzle that’s equally important: and that’s onboarding newer hires.

According to a survey by BambooHR, 91 percent of HR managers think their onboarding processes need to be improved. And guess what? 45 percent of these managers believe that their companies waste up to $10,000 per year on ineffective onboarding processes. I mean, $10,000 is a lot of money. And it could be put to better use elsewhere, such as your marketing campaigns. 

Want to work on your onboarding process, and make it more effective? Here are four tips that can help you do that.

1. Explain the big picture and set expectations.

Plenty of employees start off happy, and then get jaded six months in.

How do you prevent this from happening? Simple. Sit them down on Day One, and tell them how their work plays a role in the big picture. This way, they’ll feel like they’re contributing to the company, and that their work is meaningful.

On top of that, make sure you communicate your expectations to your new employee. What’s their scope of work? What’s their KPI? Do they have monthly targets to hit? Lay it all out.

2. Get them involved straightaway.

If you want your new employees to hit the ground running, don’t try to ease them in. Instead, get them to work with your team members on a project, right off the bat.

This does two things: first, it helps your new hire to establish a rapport with the team immediately. It also allows them to learn from your other employees’ guidance.

3. Provide them with all the information they need.

You don’t want your new hire to wander around the office like a lost sheep, so provide them with all the information they need to dive head-first into their job.

That said, don’t just dump a long, boring manual on them and be done with it. Personally, I like to use explainer videos to help new hires learn how to execute processes and get things done.

I also have an organizational chart in the office that lets everybody know who is responsible for what. If the new hire needs something, they can simply check the org chart and look for the relevant person.

4. Closely follow their progress and recognize their work.

Not many business owners realize this, but the first six months of hiring a new employee are pretty make-or-break.

Why do I say so? According to the Aberdeen Group, 86 percent of new hires make their decision to leave or stay within the first six months. And out of those who choose to leave, 79 percent do so because of a lack of appreciation from their manager.

Your job, as an entrepreneur and a leader, is to make sure your new employees aren’t struggling. Track their progress, help them if needed, and appreciate and recognize their work.

Look, onboarding isn’t rocket science, it’s just that entrepreneurs typically focus on their hiring processes, and overlook this other aspect of hiring. To keep your team happy and your retention rates high, make sure you improve upon your onboarding process. Here’s to building a team of rockstars!