Effective Orientation Procedures Mean Better Financial Performance
Posted February 23rd, 2011
When it comes to corporate planning, establishing corporate goals and strategies, and maintaining employee morale, initiatives that focus on new employees – hiring and orientation programs – get little attention, according to a recent study. The study looked at 50 large businesses in the United States.
Business experts said companies need to improve in this area. One of the most essential elements of the long-range performance of a company is introducing employees to the corporate culture and to the outlook of the company. Many companies look at this process as more of a chore than anything else, but they should look at it as an opportunity, according to business experts. It is an opportunity to help new employees hit the ground running, to prepare them for their work at the company, and to inform them about the ways they can help the company reach its goals.
Companies that established effective hiring and orientation procedures had better employee morale and outperformed others financially, according to the study. The study showed that 65 percent of the firms that had motivated employees provided training to their managers in interviewing techniques. Companies with more motivated employees also spent more time getting the workers ready for their new jobs. These firms spent an average of 35 weeks on such preparations, compared to only 15 weeks for companies that had employees with lower morale.
Other studies have also shown that helping to motivate employees and putting effective recruiting procedures in place also helped businesses financially. These studies established a strong correlation between the financial situation of a company and the morale of its employees. In a large corporation, a sizeable change in employee morale resulted in an increase of about $95 million in earnings. Studies also showed that companies that filled positions more quickly – within one month – had a much better financial situation than those who took longer.
Business experts argue that having effective hiring and orientation programs is cost effective. In order to implement these programs, no big changes are required. It is mostly a matter of improving the channels of communication between managers and employees.
One very potent technique for improving employee morale, interest and involvement in their jobs is to tell them why they were hired. More than half the firms that achieved outstanding financial results gave an explanation to employees of why they were hired. In contrast, almost three-fourths of firms with poor financial results did not talk to employees about the reasons for their employment with the company.
Providing such an explanation establishes a bond between the new employee and the company and gives them a better idea of what the company is looking for from them and how they can use their skills, according to business experts.
If you’d like more strategies on how to best “onboard” your new employees for your Bay Area firm, contact Bayside Solutions. We can offer solutions that have worked for other companies and we can help you source, vet and place qualified and reliable workers for your temporary, contract and direct-hire assignments. We look forward to hearing from you.
