The current labor market appears to be the tightest it has been in decades, which is making it more difficult for businesses to recruit and retain qualified employees. Companies are reevaluating traditional retention policies to keep pace with the evolving needs of the new workforce. The 90-day rule is one indicator of long-term employment that is gaining traction among HR professionals. The theory is that if a new employee stays for at least three months, they are far more likely to remain with the company for at least their first year. Three months is usually enough time for employees to settle into a new job, develop a consistent routine, and establish relationships with new coworkers.
A recent article from the Wall Street Journal explores the practical application of the 90-day concept by interviewing a variety of companies that are experimenting with new strategies to reduce so-called “quick quits.” A few of the more creative ideas include:
Although we can learn from each of these examples, companies need to develop personalized retention strategies for each organization’s unique culture to consistently get new hires to exceed that 90-day mark. How To Get New Hires Past 90-Day ThresholdIf the primary goal is to retain employees for at least the first 90 days, policies need to deliberately address the most common challenges that workers face during the hiring and onboarding periods:
Implementing one or all of these policies can positively impact your new hire experience, extend employee retention, and improve your organization’s culture. In the quest to retain workers, companies are sharpening their focus on a very specific common goal: 90 days. Hold on to an employee for three months, executives and human-resources specialists say, and that person is more likely to remain employed longer-term, which they define as anywhere from a year on in today’s high-turnover environment. That has led manufacturing companies, restaurants, hotel operators and others to roll out special bonuses, stepped-up training and new programs to prevent new hires from quitting in their first three months on the job. Source link yahoo.com |