Why onboarding is so important?
RETENTION: make sure that your new co-workers feel confortable and will not leave contributing to declining #retiontion rate. Numbers says it all:
- 31% of new hires choose to leave companies within the first 6 months (BambooHR)
- It costs of approximately $660K to $2.6 million to replace employee (Gallup)
PERFORMANCE: poor onboarding builds mediocre teams and adds more to the increasing company’s people debt. According to a study from Kronos Research, #onboarding is a critical weakness for a majority of organizations that stalls new hire momentum and threatens to disengage enthusiastic employees during their crucial first weeks on the job. As such poorly onboarded employees tend to increase people debt — so called accrual of poor processes, lack of documentation, vague communication, unclear decision making and weak employee relations.
CULTURE: according to Carly Guthrie of http://www.guthriehr.com/
Sloppy culture raises lots of questions in your employees heads (e.g. How can I change sloppy company culture?) instead of keeping them focused on their work. It reminds me of #fearless culture companies where mistakes and learning go hand in hand, whereas the #sloppy ones are looping in the first quadrant of mistakes:
PRODUCTIVITY: a strong onboarding program can increase your new employee productivity by 11% according to @ClickboardingHR. Often poeple think of onboarding as a technical process, but ones must remember that people are at the center of it and one should strive to build process that empowers them to perform at their best from day one. The faster you get your new employee up and running, the sooner they can add value to the company. Think of how onboarding can improve ROI of your new hire right from the begining giving access to the right tools & people.
SECURITY: in the days of GDPR and data protection you cannot risk your customer data leaks or any kind of security breaches. Floppy onboarding leaves your company vulnerable when it is not clear what level of access has your new employee. You do not want to be part of companies that have already experienced inside threats and numbers are growing (Ekran Systems). Data breaches happen when credential allocation and privileged access control is not part of rigid onboarding process. The best protection is a tighly controlled onboarding process preventing any slip through the cracks.
