First impressions last. And first impressions aren’t just important in facing new clients, it’s also crucial for new employees. That’s why employee onboarding is important. From the initial welcome, paperwork, orientation, training, assigning workstations, and more, the onboarding process can be really frustrating—and may increase the turnover rate if handled poorly.
What is Employee Onboarding?
According to Business Today, onboarding is the process of integrating new hires in a company. It’s a process by which new hires learn the ropes and get settled. According to an article by PeopleAdmin, “Onboarding also conveys your organizational brand and values, explains your people and professional culture, aligns institutional expectations and performance and provides the tools for the employee to successfully assimilate into his or her position with a quicker ramp-up to productivity.”
In the past, this is just orientation. However, the need for more than just a new hire orientation rises.
Why is Onboarding Important?
The way businesses view employees has changed. Gone are the days where employees are treated as mere workers. The mindset has changed from just extracting value to giving value and benefits to employees. This giving value mindset must start from the employee’s first day.
Research has supported the idea that effective onboarding has a great impact on performance, satisfaction, commitment, and retention. In a survey, 52% of organizations perceive effective onboarding to improve retention rates, 60% believes it improves time to productivity, and 53% believes it improves overall customer satisfaction.
Long-term benefits of employee onboarding include organizational commitment and job satisfaction. In fact, new employees who attended an onboarding orientation program are 69% more likely to remain in the organization for up to three years.
With the cost of employee turnover ranging from 30% to 150% of a person’s salary, it’s important to make sure that once you find and hire a talent, he or she stays. Stop losing memory just because of turnover. With the various reasons employees leave organizations, don’t let poor onboarding be one!