Finding good employees—and even more important, retaining them—is critical to your success. Excessive employee turnover can negatively impact morale and the bottom line.
Identifying the root causes of a higher-than-average turnover rate can be difficult. However, after analyzing results from employee surveys from early in his tenure at the company, Oracle CEO Mark Hurd identified the company’s primary retention pain point: onboarding.
Onboarding is the time when employees form their first perceptions of their employer. Soon after he joined Oracle, Hurd focused his attention on improving the employee onboarding process. Under his guidance, Oracle revamped its onboarding processes and created a single online destination where new employees could easily get set up with a computer, badge, systems access, and new employee training. Hurd highlighted Oracle’s success in this area in his recent HCM World keynote:
I think in our last couple of surveys we raised that from 35 percent favorable to around 80 percent favorable, just by the work that was done. That’s a really good example for us, to our people. We listened to you, we evaluated what you said, we acted, and we got a better answer.