Having an effective onboarding process has never been more important in today’s competitive workforce. Talented employees are among one of the strongest assets for innovative companies, but poor initial onboarding experiences often lead to unpleasant, costly results.
The following statistics emphasize the importance of an effective onboarding process:
- 33% of new hires look for a new job within their first 6 months on the job
- 23% of new hires quit before their first anniversary
- It takes about 8 months for a new hire to reach full productivity
- Estimated employee turnover costs range between 100% – 300% of the replaced employee’s salary
Statistics Source: Harvard Business Review
Understandably, managers have busy work lives. It’s often a challenge to implement stimulating, effective onboarding experiences. Luckily, there are ways to streamline new-hire processes to engage and drive long-term success. Below, we provide 4 suggestions for implementing a highly effective onboarding process:
Create an Onboarding Video
A quick onboarding video is one way to effectively show newcomers what they can expect. The video may highlight things like culture, core values, and the next steps in the onboarding process.
Use Technology to Speed up the Paperwork Process
We have the technology at our fingertips, so why not use it? HR systems like Talentwise, Silkroad, and Taleo provide new hire portals that are capable of implementing electronic signatures, up-to-date employment records, and socializing features.
Create a Mentoring Program
To make the onboarding process less overwhelming, create a mentoring program. Mentors will often be able to help newcomers understand the organizational structure and employee processes. Such a program usually increases productivity as well.
Involve All Stakeholders & Give a Warm Welcome
The development and implementation of the onboarding process doesn’t have to be limited to the HR department. There are several other departments that can make a good first impression as well. For instance, streamlining a process where the new hire gets to meet different sectors of the workplace every other day is a good way to encourage increased employee engagement and motivation.