Estimates from a survey conducted by BambooHR say that around 33.87% of new hires quit their jobs within the first month of hiring. The numbers go up to about 68.06% after the first three months. Why are they leaving their job too soon? What is going wrong? Have you cared to ask if your organisation has an onboarding process?
Yes, although often overlooked, a good onboarding program is crucial to an organisation's success. The right employee onboarding process touches almost every aspect of the business. Several surveys conducted from across the world conclude that onboarding programs have great perks. For one, let's say, it helps you work with an employee who is committed and engaged with your company's values.
On the other hand, a poor onboarding process often leads to disengagement in the workplace. Do not trust us? Here are some statistics to prove our point.
Table of Contents
A few onboarding statistics
- Effective onboarding provides new hires with the information they need to do their job. It will introduce them to the company culture and help in building trust. When employees and organisations are well-adapted to each other's ways, the probability of quitting jobs is less. That is why companies with effective onboarding programs retain 50% more new hires than their competitors.
- The right onboarding process will prepare your employees for their specific roles. When employees are not juggling between multiple roles, they can focus entirely on the work that they were hired for. Thus, organisations with standardised onboarding programs have 50% greater productivity.
- Turnovers, as we know, are expensive. The total cost involved in replacing an employee can vary from 100–300% of the individual's salary.
Despite having great benefits, 1 out of 5 businesses does not have an onboarding program. Also, just having an onboarding session isn't enough. Following the right new employee onboarding process will ensure retention. So, here are a few best practices that can turn your new hires into productive and lasting employees.
5 onboarding best practices
1. Reach out to them before they begin
Giving your new hires the silent treatment even before they start working isn't a sign of a great start. Maybe your HR can send an email briefing them about the first day. Or their manager can get in touch with them for a small introduction. Whatever your method is, be sure to reach out to them before they start the job.
2. Let the first day be memorable
Trust us, first impressions have a huge impact. So, make sure they start with a positive experience. The following are a few suggestions you can do for your new employees on their first day:
- Prepare their desks with everything they need including forms, ID badges, passwords etc.
- Be ready with welcome gifts and messages from office mates.
- Schedule a lunch
3. Prepare a structured schedule
There are two advantages to having a structured schedule.
- They will know what exactly to do after completion of a particular task.
- This gesture from your side will help in building trust.
4. Let them be familiar with the whole company
It takes a whole company to nurture its new hires. Make sure that your new employees get some one-on-one time with the already existing employees of every department. This will help them identify their role in contributing to the company's success. It also fosters collaboration.
5. Communicate the Culture
More often than not, employees quit their jobs because their values do not match with company culture. Make it a point to communicate the company culture early on. Giving an honest review of the culture helps them decide whether to stay or not.
Since the chances of people staying at a job for a long time are very less now, an effective employee onboarding process is vital to ensure business success. A diligent onboarding process will help in preparing them for the job and build trust. Employees can leave for several reasons. But, many potential issues can be resolved by having a proper onboarding program. If you are interested in acquiring industry-specific skills and improving your productivity, Imarticus Learning has several courses to offer.