Companies often focus on two aspects of HR that aren't specifically centered on compensation and benefits: recruitment and retention. As you hire new people, you want to prepare them as comprehensively as possible to ensure they succeed at your company for a long time, and utilizing a complete onboarding checklist is the best way to get them started off on the right foot.

Middle market companies can't afford a casual approach to onboarding. Although its importance may seem obvious, performance statistics suggest otherwise. For example, half of hourly workers leave new jobs within the first four months, according to the Society for Human Resource Management (SHRM).

There's also the observation by the Corporate Executive Board that 50–75 percent of new executives fail within 18 months. Many never receive the development they need to become successful, but there are other problems, as well. Outsiders in particular may fail to engage teams, lack an understanding of internal business and decision-making processes, get lost in operational issues at the expense of strategic ones, or underestimate the challenge of being an outsider, according to Business First.

A middle market company can't afford such failure rates if it wants to be strongly competitive. That's why a complete onboarding checklist is critical. As SHRM says, "the faster new hires feel welcome and prepared for their jobs, the faster they will be able to successfully contribute to the firm's mission."

Here are some key points to remember:

Hit the Four Cs

SHRM says there are four distinct onboarding levels:

  • Compliance entails teaching the legal and policy-related regulations.
  • Clarification ensures the new employee grasps all related job expectations.
  • Culture gives the new hire a sense of expected behaviors, both formal and informal, of people in the company.
  • Connection covers the interpersonal relationships and networks employees need.

Thirty percent of firms touch on only the first two levels, while only 20 percent of firms systematically manage onboarding of all four levels. Strive to be part of that 20 percent.

Right Plan for the Right Position

Although workers at all levels need onboarding, the programs may vary. Everyone should understand the company brand, culture and logistical basics, from signing up for benefits to the location of the bathrooms, but things quickly split afterward. Everything depends on a new hire's position, especially the relationships and routines they need to establish and the impact of their early action on the job. Therefore, expect to develop a portfolio of onboarding processes, not a single one that must make do for everyone.

Set a Schedule

Like any process, planning is essential. Don't expect to handle onboarding in an ad hoc way unless you want it to be pushed aside by whatever urgent daily issue comes about. Stick to a plan and follow it; the onboarding process is too important to be undermined by everyday events.

Plan for Acquisitions and Mergers

Onboarding is challenging for new hires, but it's even more difficult when your firm acquires or merges with another because of the number of people you have to integrate at the same time. Consider the resources, time and effort needed to keep from losing the people you're working so hard to bring into the company.

Develop a Feedback Mechanism

Proper onboarding can last weeks, but as with so many things, follow-through is important. Talk to each new employee at various points after the official onboarding process is over. See if they're having any problems, and ask what wasn't covered that would have been helpful. This can help improve the process going forward.

Use the Right Mix of Technology and Personal Touch

Technology can be a great onboarding tool: Videos, social networks (including specialized corporate ones) and HR software can help bring someone up to speed on many of the practical aspects, such as filling out necessary paperwork. Smart onboarding, however, takes into account the personal relationships and networks necessary for success, which requires a more personal touch. Set up meetings with people from different departments, providing a personable introduction to all aspects of the business.

Good onboarding demands resources and time, but if you do it right, you'll reduce turnover, shorten learning curves, increase productivity and help the company better achieve its goals.

Is instituting a buddy system a good way of onboarding new hires? Let us know what you think by commenting below.

Erik Sherman is an NCMM contributor and author whose work has appeared in such publications as The Wall Street Journal, The New York Times Magazine, Newsweek, the Financial Times, Chief Executive, Inc. and Fortune. He also blogs for CBS MoneyWatch. Sherman has extensive experience in corporate communications consulting and is the author or co-author of 10 books. Follow him on Twitter.