Your Orientation Just Cost You $20,000You’ve been through a mountain of resumes, hours of interviews, strategic salary negotiations, and finally made the offer to the perfect candidate, only to have them leave within the year. Why? Most likely you lost them during orientation. And that cost you big time.
Did You Know?
- Nearly 33% of new hires look for a new job within their first six months on the job if orientation gives them a bad impression Source HBR
- The average cost of replacing an employee is between 16 and 20% of that employee’s salary Source O.C.Tanner
- The organizational costs of employee turnover are estimated to range between 100% and 300% of the replaced employee’s salary Source O.C.Tanner
Could You Be Driving Away Quality New Hires?
- The Classroom Is Dead – Millennials expect something different from their orientation. Millennials know what technology is capable of and they are less accepting of outdated practices that could be improved. The last thing they want to do is to sit in a room listening to someone talk at them.
- Death by PowerPoint – one bullet at a time. In the fast-moving mind of the digital generation, a PowerPoint presentation is unacceptable. After all they learned how to build them in grade school.
- Interaction – Millennials prefer to be self-lead. They are naturals at self-guiding themselves through information. Millennials grew up on YouTube and gaming. They know technology is available to educate and entertain them at the same time.
Think about your orientation. Is it Millennial approved? If not, you could be watching $20,000 walk out the door with each new hire.