Welcome aboard! Employee onboarding is a broad concept that may seem overwhelming. However, with the right information, you can create a highly effective onboarding process for your organization, and start reaping the benefits thereof. But, do you have an active onboarding procedure in your organization? Employee onboarding is the process of bringing in new employees into your company
and equipping them with the necessary training, mentoring, coaching, and support needed throughout the transition process. While many organizations have different onboarding programs in place, a successful organization whose retention rate is high is intense with its onboarding process.
A recent report done by Aberdeen Group shows that organizations with a formal onboarding process record a retention rate of 86% while organizations without a formal onboarding process have a retention rate of 56%. This demonstrates the need to have a formal and active onboarding process in your organization.
Importance of an Onboarding Procedure
Studies done by OfficeVibe have revealed the following:
• 69% of new employees are likely to stay with their organizations for three years if the onboarding process is great.
• 20% of employee turnover in organizations takes place during the first 45 days
• Organizations whose onboarding process is standard, experience 50% greater employee retention rate.
• 20% of new employees are likely to be satisfied with their managers after they go through a formal onboarding training.
• 60% of organizations don’t set goals for their new employees.
• 22% of organizations lack a formal onboarding program.
From the studies above, having an effective employee onboarding can build a strong foundation which creates an amazing workplace culture that can be used to attract and retain talented employees. Therefore, a good onboarding process helps you to:
While organizations’ culture and core values differ from one organization to the other, Gallup’s study reports that regardless of the differences, the result that matters most is employee engagement, especially soon after joining the organization. Therefore, an effective onboarding process can foster employee engagement right from the start, and retain it in future.
Improve Internal Communication
New employees normally feel intimidated to share feedback and concerns regarding their new roles and surroundings. However, with an onboarding program, you can provide the setting and structure for new employees to get their questions answered without any pressure. Such an onboarding forum will foster an environment that employees thrive in.
Reduce Employee Turnover
A high rate of employee turnover can have a negative impact on your organization’s bottom line and employee morale, regardless of whether they leave, because they are just moving on, or are a bad fit. Therefore, implementing a form of an onboarding program that ensures a better employee fit, from the start, can go a long way in ensuring that employee turnover is reduced.
In conclusion, a comprehensive onboarding program engages and educates new employees so that they become beneficial and productive for the organization. An onboarding program that is effectively executed is worth your investment, and can go a long way towards the organization’s long-term success.