40% of the global workforce is considering quitting their jobs. In terms of the USA, that means that around 64 million people are thinking of leaving their current employer right now. Why? Part of the reason could be an employer’s onboarding process.
Employee onboarding is a process of integrating new employees into a company, which ensures they are ready to perform their job productively and efficiently.
So, let’s talk about an effective employee onboarding process, what it is, why it is an integral part of employee retention, and why you need one.
What is the primary purpose of onboarding?
- It tells employees what the company has to offer, their philosophies, and their specific roles.
- Onboarding engages employees and creates committed workers.
- Onboarding will retain employees 1 in 10 employees has left a company directly because of a poor onboarding experience.
Why do you need onboarding?
New employees are expensive. Think about it: One lost employee can cost up to 50% of that employee’s salary to replace due to a weak onboarding program.
Every time you hire a new employee, your business pays the price. That price comes in the form of time, money, and sometimes lost opportunities. An effective onboarding process will:
- Increase productivity. Effective onboarding can increase productivity by over 50%.
- Define the roles of the new hire. New hires will feel like they’re a valued part of your business when their job description is brought to life.
- Reduce employee stress. If close relationships are already being built, it will facilitate good team bonding from the get-go and cause less confusion and anxiety for employees later.
- Help your brand. Make no mistake, word of mouth is still a powerful tool. Potential hires that are aware of your company’s culture and effective onboarding system will already know what your brand represents and will want to work for you.
How to create an effective onboarding process
- Plan. As mentioned previously, employees are a significant investment. Map out everything when explaining the systems that you use.
- Organize a new employee’s workspace and make sure it’s tidy and clean. Making new employees feel welcome is critical.
- Train staff in different ways. Some people learn better with verbal learning – some with written instructions.
- Don’t assume that just because you’ve been doing things a certain way and know your processes inside out and back to front, a new hire will know them too.
Making a positive impact on your new staff members from the day they start will motivate them to stay for the long haul, saving your company time and money.
Getting onboarding right and having a well-executed system in place from the start will see you hiring employees that are happy, hard-working, and willing to go the extra mile for you – and you will retain them.
Need help with onboarding? Contact us today to learn how Quantum Strategies can help.