It’s easy to say every company needs onboarding but do the numbers support it?
Is the time and energy you’ll spend onboarding your new hire worth it?
Looking at the research, we can see:
- On average, employers spend $4,000 and 24 days on a new hire
- 69% of employees are more likely to stay 3 years if they have a great onboarding experience
- 54% of companies with good onboarding report higher employee engagement levels
- 77% of employees with formal onboarding meet their first performance review targets
- 20% of staff turnover happens within an employee’s first 45 days
Stats like that certainly paint a picture of the importance of spending the time upfront to set your new hire up for success
Here are some tips on how to deliver the best possible candidate onboarding process:
Before day one
Before your candidate shows up on day one there are a few tasks you can accomplish:
-Build a plan
-Create an onboarding team
-Set up their desk
-Print business cards
Day one to week one
An employee’s first day should be about being welcomed, rather than intensive learning. Use their first week to create a positive foundation for the new hire and bring them into the community.
-Start a little later
-Create an onboarding schedule
-Review the role
Between week one and three months
The first few months are often an intensive sprint to learn as much as a new hire can. Productivity during this phase should be increasing but don’t expect them to be at 100% quite yet.
-Spend time on culture
-Create clear objectives
Between three months and a year
At three months, your new hire should be starting to contribute in a real way. However, there are still a few tasks to cover off in your onboarding program before you send them on their way.
Taking the time to onboard new employees doesn’t just help them transition to a new position more smoothly but it’s also your chance to set them up for future success.
By taking the time and energy up front, your new hire will feel welcomed and supported as they join your company