At Hibob we truly believe that when you grow your culture, you grow your business. We all know the value of company culture and the cost of poor employee retention rate. A high turnover rate can cost you hundreds of thousands of dollars a year, while engaged employees who are with you for the long run can save money and increase productivity. We’re breaking down the best ways to cultivate your company culture by addressing retention with bob.
Onboard the right way
Would you be surprised to learn that 64% of employees are less likely to stay at a new job after having a negative onboarding experience? The onboarding experience has a direct impact on retention. You might wonder how your onboarding process is perceived by your current, new hires and what it was like for some of your veteran employees. Hibob’s onboarding solution simplifies workflows and makes sure nothing gets missed along the way. Work harmoniously with other departments to sync on people matters starting from day one.
Engage with culture
Culture is key for the new world of work. Engage your employees and create the ultimate employee experience with bob’s culture club, including a dashboard, clubs, shoutouts, Kudos, and interests. Kick your onboarding off from the moment new joiners sign their contracts. Create a sense of belonging by bringing employees together through shared hobbies and superpowers. Communicate announcements and employee recognition through Shoutouts to the whole company or specific sites. Our central dashboard creates a single source of truth to bring the company together in one place. Your voice reporting makes sure employees feel safe and listened to.
Check-in through feedback
The future of work ‘like’ economy requires companies to gather feedback from their people in a non-anonymous manner at various stages that help them build effective feedback architecture. Feedback mechanisms should find employees at each point within their lifecycle and check-in regarding their experiences in training, career progression, and more over time.
Our Employee Lifecycle Feedback tool allows for collecting invaluable team and individual insights. Employee Lifecycle Feedback allows companies to track their employees’ milestones and progress by capturing important feedback at every stage of their employment lifecycle. The adaptability of Employee Lifecycle Feedback allows businesses to create the culture they’ve always dreamed of while empowering and prioritizing their employees at the same time.
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Solve retention through culture with bob
When team members see more and more of their colleagues leaving the company, it affects their satisfaction and engagement, and, therefore, their productivity. It’s one of the more intangible costs of employee turnover, but it’s not less impactful.
It’s important therefore to foster an environment of security and satisfaction to help teams thrive. Engaged employees stay with you longer and work harder; this is one of the ultimate money-savers when it comes to running a business.
The bottom line
Employee retention is key to long-term productivity and success, so the longer you can keep employees engaged, the better for your bottom line. A company that hires the right people and invests in their development and engagement is bound to have a positive organizational culture that delivers results. This is why employee engagement is a top priority with bob.
From Nora Stark
Nora is Product Marketing Manager at Hibob. She brings her background in psychology and passion for storytelling to her role. Often confused with the Starks from the North, Nora is also on a mission to travel and explore other cultures. An avid reader and podcast listener, she can be found discussing the latest pop culture news around the office. Nora is thrilled to discover where the future of work is headed through bob.