A recent HBR article stated that poor onboarding can leave your employees with lower confidence in their new roles, worsened levels of engagement, and an increased risk of jumping ship when they see a new, more exciting position elsewhere. On the other hand, companies that implement a formal onboarding program could see 50% greater employee retention among new recruits and 62% greater productivity within the same group. Making new employees stick, keeping their interest and enthusiasm, and a long-term association with your company, is a critical value-building initiative for every size business.
How well new employees are onboarded will determine their level of stickiness. Hiring managers should take the following steps to ensure they set new hires up for success: 1) Hire an onboarding concierge to help design a customized plan. 2) Set clear goals and measures for success, 3) Provide developmental support throughout the onboarding journey.
At FIREPOWER we are onboarding evangelists, committed to customizing the employee onboarding experience from day one, and throughout the long-term working relationship with your company. Unemployment is currently at record low levels. This is good news for job seekers, but rough water for employers trying to hang on to top talent, making retention a high priority. As the job market continues to shift, companies that have committed to onboarding are retaining key talent.
Get clear about roles and expectations. Long term success depends on your set up. Onboarding should be more than a great first experience. Make it last by communicating clear roles and expectations at every stage of your working relationship. Regular progress checks keep you updated on employee successes and opportunities to grow. You must deliver an onboarding program that embodies your company culture and prepares new members for the road ahead. With the right preparation, you will reduce the time it takes for a new employee to become comfortable and productive in their new role.
Don’t skip the 90 Day plan. Many employers underestimate the length of time it takes for a new hire to become proficient in their role. You can’t rush the onboarding process if you want new team members to be successful in a role. The average onboarding program lasts 90 days, but according to Gallup’s “Creating an Exceptional Onboarding Journey for New Employees” report, it typically takes new employees 12 months to reach their full performance potential. When employers plan carefully upfront, the process is productive for everyone involved.
Leaders that invest in a complete employee onboarding experience realize key value building benefits like increased engagement levels, decreased time to proficiency, and reduced turnover. The benefits to your business are worth the time required to create a company onboarding plan. A customized onboarding plan template provides an easy way to generate a plan for all new hires. Make a commitment to give your new employees a great experience and you will keep them longer. We will be your partner in creating a successful working relationship for your new team members.