Retaining employees is just as important -- and challenging -- as finding them in the first place. Although it may sound like a cliché, employees truly are the most valuable asset of any business. Not only do they have the skills and knowledge required to keep operations running, but they are also quite costly to replace. On average, every time an employee leaves, it will cost the business six to nine months' worth of that employee's salary to find a replacement.

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When you’re hiring a new employee, it can be easy to treat the onboarding process as an afterthought. You spend so much time on conducting the job search, running interviews and selecting a candidate that you pay little heed to what has to happen after an applicant receives and accepts a job offer: onboarding.

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The “hiring funnel” refers to the stages that a hire goes through between first becoming aware of your job opportunity and ultimately being hired. The concept is modeled on that of the sales funnel. Understanding the hiring funnel helps you determine whether you’ve created the right job ad and how applicants will behave during the hiring process.

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If, like many MSP business owners and managers, you come from a technical background, you may not have much formal experience when it comes to hiring employees. This is especially true for smaller MSPs who have worked as one-person shops or with very small teams previously, and are now looking to scale up.

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