Why Onboarding Matters
You need to get onboarding right. As you bring on new employees, their first weeks within your organization are critical. Up to 20% of employee turnover happens in the first 45 days. Instead of growth, poor onboarding experiences motivate employees to leave. Discover the top reasons you need to get onboarding right and how to get that done.
Keeping Your Employees
The main purpose of an onboarding process is to introduce your new employee to the company and their new role within your organization. As your new hire becomes more informed of the company’s culture, your expectations, and their place within the company’s system, they become confident employees. They fill the space you’ve carved for them within the structure of your business. Unstructured and poorly executed onboarding can have the opposite effect, leaving employees feeling like they don’t fit. They either force themselves into a space they feel is not right for them and eventually leave, or they leave right away. This may be a contributing factor to the “ghosting” behaviorbaffling HR and hiring professionals right now.
Nearly one-third of all new hires quit their jobs within the first six months, according to the Society for Human Resource Management(SHRM). After going through the process of hiring an employee, a structured onboarding process will help you keep your new hires. In fact, organizations with a standard onboarding process experience 50% greater new hire retention.
Not only do you want to keep your newly hired employees on the team, you want to keep them content within the organization and prevent them from leaving prematurely. The cost of replacing an employee can be up to 20% of that employee’s salary.
It makes sense that an employee who feels confident and connected in their role within your organization will be more productive. A structured onboarding process will contribute to your employee’s overall satisfaction with their job. Happy employees are productive.
The cost of disconnected employees can be high. An estimated $37 billion is spent annually to keep unproductive employees who don’t understand their job. This wasted cost can be prevented with longer onboarding programs. Those companies that do experience 50% greater new hire productivity.
How to Get Onboarding Right
To begin planning an effective onboarding process, SHRM recommends answering these key questions:
- When will onboarding start?
- How long will it last?
- What impression do you want new hires to walk away with at the end of the first day?
- What do new employees need to know about the culture and work environment?
- What role will HR play in the process? What about direct managers? Co-workers?
- What kind of goals do you want to set for new employees?
- How will you gather feedback on the program and measure it for success?
For a detailed guide on setting up an effective onboarding process, check out this guide. When you’re ready to invest in your onboarding, consider Charleston Payroll’s digital onboarding options. Our program streamlines the entire process, making it easier to get the paperwork and time-consuming details completed quickly and securely. Contact us today to get started!