By Tiffany Delmore, Co-Founder of SchoolSafe
November 23, 2018
Mentorship programs have seen great success, and they’re utilized by around 71 percent of Fortune 500 companies, according to the Association of Talent Development. Ask the veterans on your team to sign up as mentors and set clear parameters for what that entails.
Let’s face it — the hiring process is painful, and not just because you have to look through reams of résumés. From posting job listings to conducting several rounds of candidate interviews to ultimately making a selection and then training a new employee, the time and money required to fill a vacant role add up quickly. According to the Society for Human Resource Management, it costs an average of $4,129 to hire a new employee. Considering this process takes an average of 42 days, it’s clear that you want to get it right the first time.
And just because you’ve made a candidate an offer and he or she has accepted it doesn’t mean you’re out of the woods. In fact, Tinypulse reports that 22 percent of turnovers occur within the first 45 days of an employee starting a new job. Without an effective onboarding process, you’re setting your business — and your new hire — up for failure. On the other hand, an effective and engaging onboarding program allows companies to retain 91 percent of new hires for at least a year, according to the same research.
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