Onboarding a new hire can seem like a maze of paperwork and daunting lists of tasks. In 2022, however, a great onboarding experience is a crucial component of the hiring process. The following guide explains how your company can create an effective onboarding experience and improve employee satisfaction and retention.
It’s not surprising that a great onboarding experience can improve employee retention. It’s an opportunity to engage the new hire and make the most of that first impression. In fact, research by the Brandon Hall Group shows that a strong onboarding program can improve employee retention by 82 percent and productivity by 70 percent.
There is definitely a place for paperwork, such as employee handbooks, legal forms and HR documentation, in the onboarding process. However, the Human Capital Institute (HCI) reports that over-emphasis on paperwork and compliance can negatively impact the onboarding process. The same report states that people, as well as consistency, accountability and structure should be the focus of an onboarding program. Talcura can help you HR team deliver people-driven on boarding experiences.
We know that a strong onboarding program improves employee retention. But what makes an effective onboarding experience? According to Gallup, engagement is a key driver for employee satisfaction. When new hires have an opportunity to meet with managers, learn about company culture and find out how they can contribute, they are 3.4 times more likely to be satisfied with their onboarding experience. As noted above, a positive onboarding experience helps improve employee retention and productivity.
With most onboarding programs lasting an average of one week, new hires do not have time to become acclimated to their new workplace. The same Gallup research found that it takes a full year for most new hires to reach full productivity in the workplace. The survey also found that on 29 percent of employees felt prepared for their job after onboarding.
An effective onboarding program should last from 90 days to 12 months. During those months, relationship-building, formal mentorships and learning opportunities can help prepare a new team member to reach their full potential.
New hires should be told about career development opportunities during onboarding. Career development continues to be the number one factor for employee retention. It makes sense, therefore, that employees should be made aware of internal mobility and development opportunities right away. Information about educational opportunities, career coaching and other development programs should be available to new hires.
Another effective way to improve relationships is to ask new hires for feedback. Survey topics can include recruitment, application and onboarding experiences. Only 26 percent of new hires recall being asked for onboarding feedback; many employers are therefore missing an early opportunity for employee engagement.
From new hire feedback to career development, there are many components to a strong onboarding experience. Great onboarding will keep your company on track for improved retention, productivity and relationships.