Onboarding encapsulates the initial welcome of new employees, the processing of paperwork and payroll, introductions, and even seat assignments. Onboarding makes sure that new hires adapt to the new working environment and what is expected of them. This helps to mitigate turnover expenses, improve retention, as well as make the employee become an efficient and fitting person.
About 30% of external hires will leave within the first two years of employment. There is a myriad of reasons that make up this statistic. Poor onboarding is a reason why some employees may leave, and it’s a factor that human resources have a direct influence with. Joined with the fact that job seekers are jumping from position to position instead of staying within a company and grow with it, many companies are realizing the black hole in cash flows when it comes to constant hiring of new employees, which can cost up to to 20% of the annual salary of a mid-range employee.
Tips For Better Onboarding
- Think of onboarding as a process, not an adjustment. A process involves several steps. HR should collect all relevant information, process benefit and payroll forms, as well as use aids to convey the culture, brand, and values of the company.
- Aligning the employee with institutional expectations. Roles should be described, coworkers should be introduced, and benchmarks should be quantified. Emphasizing what you expect from a new employee will offer strong guidance, especially as a new hire. Regardless of their skillset, bridging the social aspect of the company with the new employee will make sure that they are able to relate to the bottom line.
Onboarding can take several months, up to a year. During this time, it is important to relay feedback in a constructive manner. Constant feedback and performance assessment are key to not only the employee’s longevity but also matriculating the employee for continued success.