Why a good On boarding strategy matters to your business
An “Onboarding Process” is a process in which newly hired employees acquire the necessary training and knowledge regarding their positions. It also entails an introduction into the company’s culture, team members, management, and any computer-based systems. Often times, new hires are required to attend meetings with management, webinars for training purposes and given new hire printed materials, including policies and procedure manuals. The purpose of the onboarding process is to ensure that the new hire becomes fully acclimated in the company. According to an article written by Click Boarding, an Onboarding Software Solutions firm “69% of employees are more likely to stay with a company for three years if they experienced great onboarding”. At minimum, an effective Onboarding Process should be able to:
Improve and maintain employee retention
Allow sufficient time for the new hire to develop professionally
Properly prepare the new hire for success within their position
Monitors productivity to ensure the new hire is on track
Keep the lines of communication open, in order to cultivate a relationship with management and other team members
Most onboarding processes are completed within 90 days, however according to the Harvard Business Review, “It typically takes eight months for a newly hired employee to reach full productivity”. One way to ensure the success of the Onboarding Process is to extend the “traditional” time period from 90 days to perhaps 6 months. This ensures that the new hire will become fully acclimated within their position.
Something else we can consider is that an Onboarding process can actually provide an organization with insight on a number of things: Loss of revenue; it actually takes more money to hire, re-hire and re-train employees than it does to keep them. With that being said, this may be a time to focus on areas that may be overlooked such as work environments, management styles, as well as training. For example, if a particular department within the company experiences a high turn-over rate, higher than most departments who functions within the same capacity, it’s very likely that the issue isn’t that the employees are having a hard time “keeping up the pace”, it may very well be the process that’s in place or management. Before it gets to this point, or if your company has already run into these issues, its probably best to address it now so that it doesn’t affect your bottom line later on down the line.
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