Photo 101359075 | Fizkes | Dreamstime
Dreamstime L 101359075

Clark: Employee retention starts with the job offer

Sept. 4, 2023
If you want to retain employees, make sure that they feel valued from the get-go and check on them regularly during their tenures.

Now that you've found the right candidate for your open position, the real work begins. Retaining employees starts the minute you extend the job offer.

Start by sending an introductory letter to the new hire welcoming them to the company and giving them tips on what to expect on their first day. This reduces first-day anxiety and lets them know you are eager to have them join your team.

Here are some interesting retention statistics from a variety of sources:

  • About 17% of turnover occurs within the first month of employment.
  • An additional 23% of turnover occurs before the employee's first anniversary.
  • Approximately 91% of first-year employees are retained by companies with formal onboarding programs. Only 51% are retained by those that don't.

You spend a lot of money trying to hire employees. In addition, losing an employee within the first year will cost you three times that employee's salary to recruit, hire, and train a replacement.

That makes the onboarding process critical to retention, and it needs to start immediately after the job offer is tendered. Consider doing something as simple as sending them some company swag before their start date, and, of course, make sure you have a work area assigned to the new employee! Your goal is to create a positive work environment and focus on employee well-being.

See also: Clark: Look outside HR for employee retention tips

Employees today are looking for information on a career path. Be prepared to offer them a chance to grow with your company and share that growth plan with them.

Rather than conducting exit interviews when an employee tells you they are leaving, consider using what Dick Finnegan calls "stay" interviews to gauge engagement. These interviews can help you determine an employee's level of job satisfaction.

Ask the following questions during a "stay" interview:

  1. When you travel to work each day, what do you look forward to?
  2. What are you learning here?
  3. Why do you stay here?
  4. When was the last time you thought about leaving our team? What prompted it?
  5. What can I do to make your experience at work better for you?

Retaining employees is an ongoing process that starts the day you make a job offer and, when done correctly, results in employees staying with your organization for many years.

Jane Clark is vice president of member services for NationaLease. In this position, she is focused on managing the member services operation as well as working to strengthen member relationships, reduce member costs, and improve collaboration within the NationaLease supporting groups. Prior to joining NationaLease, Clark served as area vice president for Randstad, one of the nation's largest recruitment agencies, and before that, she served in management posts with QPS Cos., Pro Staff, and Manpower Inc.

About the Author

Jane Clark | Senior VP of Operations

Jane Clark is Senior Vice President, Operations for NationaLease. Prior to joining NationaLease, Jane served as Area Vice President for Randstad, one of the nation’s largest recruitment agencies, and before that, she served in management posts with QPS Companies, Pro Staff, and Manpower, Inc.

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!

Sponsored Recommendations

Report: The 2024 State of Heavy-Duty Repair

From capitalizing on the latest revenue trends to implementing strategic financial planning—this report serves as a roadmap for navigating the challenges and opportunities of ...

Fleet Industry Benchmarks: How does your fleet stack up?

Discover how your fleet compares to industry benchmarks and gain insights from a 2024 Benchmarking Report on maintenance spend, turnaround time, and more. Join us to identify ...

Build a Tolling Program to Manage Toll Fees and Risks

Fleets looking to effectively manage their operational costs should consider their tolling costs. Download the PrePass whitepaper, “Build a Tolling Program to Manage Toll Fees...

Reducing CSA Violations & Increasing Safety With Advanced Trailer Telematics

Keep the roads safer with advanced trailer telematics. In this whitepaper, see how you can gain insights that lead to increased safety and reduced roadside incidents—keeping drivers...