According to the latest employee turnover statistics, companies lose a lot of money every time they lose an employee. For one, they have to spend between 6 to 9 months worth of their salary to find and train a suitable replacement. The higher the employee’s position, the more money it will cost the company to replace them.
What makes employees quit?
Well, there are a lot of factors involved. It will be hard to deal with all of them. However, there is something that you can do to help keep the turnover down. You have to make sure that you provide new recruits with the right onboarding training program.
The same statistic revealed that 4 out of 10 employees leave the company because they feel like they are not provided with adequate training to make them effective at work. Look at it from the perspective of the new recruit for a moment. When they join the company for the first time, they are given all the tools, training, and other materials to help them adjust. They even have someone for a couple of days that will guide them. And then – it abruptly ends. They are forced to hit the ground running on their own.
That is where the problem lies. In most cases, the onboarding training is too short. Once the materials and the training are over, the employee loses confidence fast. If the company does nothing, then there is a high chance that they can lose that employee.
This is why the custom content of your onboarding program should be considered carefully. It is very important that new employees are given adequate guidance – at least for a couple of months so they will not be tempted to leave their job. Because if they do, that will be counterproductive for the company.
Creating the right onboarding program
So what custom content should the onboarding program have? While there is no one-size-fits all type of training, there are tips that you can follow to help make your the program effective for all types of employees.
Know the right content to present
In any training program, content will always be king. A new employee goes to an onboarding training with the expectation of getting new information – and a lot of it. Focus on the critical topics first. These individuals will be very attentive during the first few courses. Keep it simple, short yet memorable. What do they need to know to immediately function at their job? From that, you can slowly build the information that they need as they continue to explore their role within the company.
Observe what they need
Employees react differently to the same course. This is why you need to be prepared to give them what they need. It is advisable to prepare several courses that you can manipulate based on how the new recruit responds to the onboarding program. The custom content of the course should make it easier for you to address gaps in the understanding of the individual and the development of their knowledge and skills.
Make it last as long as possible
Finally, you need to make sure that the training lasts for as long as possible. Do not spend a few days to train the employee aggressively. It might be better to space it out over a couple of weeks. And you do not have to be there all the time to train them. Give the employees the materials and resources that they need so they can access the onboarding training when they need the information. Continuous learning can help address the lack of training that causes some employees to leave the company.
As you can see, the custom content of your training program can be a tool to keep the company turnover rate low. Prioritize the knowledge and skills of employees. They will be the biggest investment in the company. When they are well-equipped, they can be as productive as they can be. And when they are productive, they are more likely to bring profit to the company.