In order to make the number in 2016, the Product, Marketing, and Sales teams must be equipped with key players who can execute their strategies. And in order to keep the company on track towards its KPIs, these players should be integrated into organization without missing a beat.
Turnover is a given in today’s business landscape. But how companies prepare and react to these changes is what differentiates a growing organization from one that’s being left behind.
That’s why best-in-class companies develop clear-cut onboarding practices in anticipation of talent needs and shortages. This way, they can be sure that all new hires have the knowledge and skills they need to begin the job as quickly and seamlessly as possible.
Here’s how to make it happen.Best-in-class companies anticipate talent needs and shortages.
Where Onboarding Fits Into The Talent Strategy:
As SBI found, the top 10 percent of companies reporting outstanding performance organize their functional strategies in a specific way. This includes their Talent Strategies, which unfold across seven main phases: Profiles, Assessments, Sourcing, Hiring, On-Boarding, Talent Development and Succession Planning. As such, onboarding is a necessary follow-up to the sourcing and hiring process, and is also a vital precursor to putting talent development plans into action.
Without an optimized onboarding process, an organization can suffer losses in terms of salaries, hard costs, training, and travel expenses. They can also get hit by soft opportunity costs if a new hire underperforms against a fully ramped-up employee.
To shorten the road to productivity, HR leaders can use certain guidelines be sure they’re prepared to onboard the best players for their company.
Reduce The Time It Takes To Make New Hires Productive:
To complete the onboarding process, the Talent team must be able to reduce the time it takes to make new hires productive by setting up a ramp-up plan. Using learnings from past hiring processes, this plan will function as the ultimate roadmap for bringing in new talent.
This plan must include clear instructions on who will be appointed as mentors for new hires in each department, as well as provisions for checking in on the onboarding process. If a new hire isn’t on pace to achieving their ramp up, the onboarding strategy should be revisited and optimized accordingly. Additionally, Talent should work with each team to figure out how long it will take to acclimate a new hire. This way, they can anticipate any possible gaps in production and address them beforehand.
A solid ramp up strategy will prepare all functional teams for bringing on future hires and aim to make the process as smooth and efficient as possible.
Preparing Your Company To Make the Number:
With solid strategies for talent acquisition and onboarding, the Product, Marketing, and Sales leaders will have confidence that their teams can execute their strategies. And your organization will be on the right path to beating the estimates in the year ahead.
But this strategic alignment doesn’t happen overnight. It starts with taking research about top performing companies and applying their best practices to your organization, one step at a time. To help you get the process started, SBI will consult with your company in our 90-minute workshop. Register today, and we’ll help you be sure you can make your number in 2016.