Most of us have experienced onboarding at some point in our careers. In fact, most jobs whether part-time or full-time have some type of onboarding process for new hires. This can be as thorough as a few weeks of training, seminars, and workshops or as brief as filling out the required paperwork and a quick introduction to the team. However, one thing is certain – onboarding can set the tone for your employees’ experience and success at your company.
Why Onboarding Is Important
Onboarding new employees is an investment of both time and resources. Companies hire because there is a need, and many times the onboarding process is either accelerated or skipped so the new hire can jump in and begin contributing to the greater need of the organization. Not only can this cause a stressful start for the new employee, but it can also set them up for failure down the road.
When done well, the onboarding process should introduce the new employee to the company’s history, philosophies, culture, and vision providing the why behind the work they will be doing. It should allow them to thoroughly become acclimated to their role and the team in which they will be working.
The Benefits of Good Onboarding
While there are many opinions and definitions of what good onboarding should be, there is no denying the statistics that support its effectiveness.
Better Employee Retention
According to a survey conducted by the Society for Human Resource Management (SHRM), 69% of employees who experience great onboarding are more likely to stay with the organization for 3+ years. Additionally, a Glassdoor study has shown that companies that invest in onboarding improved their new hire retention rates by 82%. Not only is employee retention good for culture and morale, but it also saves the organization money. All re-hiring costs considered, a company can spend up to 150% of the new hire’s salary on finding a replacement.
Faster Productivity & Better Performance
Few candidates do well in a “sink or swim” situation, and even fewer will stick around in a position they don’t feel comfortable or supported in. Taking the time to acclimate your new employees to their work environment, job responsibilities, teammates and culture will allow them to begin their job with both competency and confidence, enabling them to produce better results and ultimately leading to a more positive experience in the organization. A SHRM study has shown that 62% of companies with a thorough onboarding process experience faster time-to-productivity rates in their new hires.
Greater Role Clarity & Job Satisfaction
Job descriptions can be vague and while the interview process does its best to paint an accurate picture of the day-to-day work environment, it can be difficult to do so. The right onboarding experience can introduce the new employee to the nuances of the position, company, and culture and provide the right tools they’ll need to be successful in their role. With the proper training and a positive experience, this can lead to more job satisfaction (and success) for your employees in the years to come.
While onboarding can be a highly subjective topic, it’s hard to deny the statistics that point to long-term retention and employee success. Over time, positive onboarding can lead your organization to a better work culture, more productivity, and higher retention rates.
About Congruence Talent Solutions
Our team of experts offer decades of experience and knowledge to connect high-caliber candidates with strategic opportunities for career advancement within our corporate partner firms.
At Congruence Talent Solutions, we know that trust and discretion are of the utmost importance, and have a deep and abiding commitment to protect your privacy throughout the placement process, whether direct or contract.
Click here to learn more about career opportunities with Congruence Talent Solutions.