Research has taught many business leaders of the importance of creating a positive first 90 days for new employees. Companies that understand the impact the first 90 days has on the retention of new people have seen excellent returns in reducing staff turnover.
As The Telegraph states, staff turnover costs British businesses at least £4.13bn every year as new employees take up to eight months to reach optimum productivity levels, according to research released today. The average cost of replacing a departing staff member is £30,614, says Oxford Economics and income protection providers Unum.
We sometimes forget the stress new employees face as soon as they arrive to begin their new career. Not only do they have to build relationships with their new colleagues, they have an unfamiliar routine, or lack of a routine altogether, this can cause for added stress as well as the growing pressures to impress and succeed at their new position. Without a 90 day programme for new people, organisations risk losing key people early.
A plan of any sort provides you with a tangible version of where new people are going and where you expect them to be. By planning out your expectations of new people in the first 30, 60, and 90 days, you create a vision that will help your new people achieve their potential. Please take a moment to read my advice on what your business leaders should be considering for new employees within the first 90 days.
One common mistake employers make is never taking the time to explain exactly what it is that the company are trying to accomplish through their strategic plan.
After 30 days new people will have taken time to fully assess the company, this is the stage to ensure they begin adding their strengths to the equation:
By this time, you should expect new people to have a firm grasp of the role they play in the company. Their confidence is likely to have grown since the first day and their capabilities are starting to shine through. At this point, consider the following and check whether your new people are showing these signs:
A 30/60/90 plan / culture for your leadership team to check against when managing new people is a written path to support a new hire to an effective leader.
Darwin Rhodes Team