What's the Big Deal?
Many companies are struggling to find talent. This can be pinned on today’s record-low unemployment rate. Let’s say you are fortunate enough to find the right talent, the next battle just around the corner, is how to retain the great talent. This is where a bullet proof, award-winning Onboarding comes in!
These days employees are in the driver’s seat, and they have high expectations that must be met to incentivize staying with an employer. If they do not immediately feel connected with a clear view of their role and the culture and mission of the organization, they will not stick around for long. See for yourself: According to a survey conducted by Careerbuilder and Silkroad Technology, 1/10 new employees have left their company because of a poor onboarding experience, and 37% percent of employees said their manager did not play a critical role in their onboarding experience. So, what happens when you perform onboarding the right way? Glassdoor found that companies with an effective onboarding process improved their new hire retention rate by 82%.
Trust the process
The entire Onboarding should span a minimum of three months, but it is proven that companies can increase employee retention by extending Onboarding to an employee’s entire first year. According to research by SHRM only 15% of companies continue onboarding after six months (See an opportunity!?). Onboarding cannot be a one-size-fits-all endeavor. There will be variations based on roles, companies, seniority, legal requirements, etc., but providing continued learning throughout the first year of employment seems to be critical to advance employees’ skillsets and impacting your organization. Investing in a best-in-class Onboarding experience for your employees increases productivity, engagement, and well-being.
Let your employees know how valuable they are!
Let’s think of your employees as customers. The Onboarding customers (employees) should feel special and valued. See spoiler alerts below:
- Use the gap between offer acceptance to their first day as an opportunity to build a connection with the new joiner. This is especially crucial for remote employees.
- Send the new joiner a welcome package with company branded swag as a sort of first day appetizer.
- Connect the new joiner with a buddy for a peer connection and to ease first day nerves.
- What’s in it for you? Feedback! Throughout the initial Onboarding, get the new joiners’ perspective on what they liked and did not like.
- Provide the new joiner with real, actionable feedback as soon as possible.
Digitalize the onboarding process
HR’s plate is well full as it is; rather than adding to their fatigue by creating additional work, automate where possible with the best tools and to create a cost-effective and efficient onboarding process.
TechTorch’s use case takes Onboarding from an overlooked (boring!) obligation for organizations and new joiners to an engaging, career inspiring journey for new joiners and an opportunity for organizations to develop an economically and culturally rewarding workforce. What are you waiting for?
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