The moment a new hire joins the team, employers have a distinct opportunity to make or break that person’s future at their business. The current job-market is more employee-centric than before, making it simpler for new workers to leave for greener pastures if they don’t feel the environment is right for them. But, there is one surefire way to ensure that the latest employee stays with the company, and that is through onboarding.
What is onboarding
Having a solid onboarding process is the best way to make a positive first impression on business newcomers. It involves instructing employees thoroughly on their new role, primarily through training and integration. Explanation of their job and the attached expectations, where they fit into their new team as well as the business proper – these are the foundations of onboarding. By the end, employees should understand that they are a valued part of the team, and be excited for their future.
Why should you do it
There are a lot of reasons to engage in onboarding, as it provides several company benefits. Not only will it improve the business’s structure by fleshing out roles and teams, it’s highly effective for employee happiness. A positive onboarding experience significantly lowers new hire stress, and when done right increases productivity by 54%. As the primary momentum behind a business, happier employees who know their value have a much higher productivity rate than those who do not.
If someone is not happy at their workplace, they’re unlikely to stick around. Employee turnover rates are a financial concern for businesses, as the total cost of a turnover can range anywhere between 100-300% of the individual’s salary. It’s far more affordable to create a positive onboarding process and company culture than continually replacing employees every few months. Onboarding is supposed to be a ‘start how you intend to continue’ situation, where it is an accurate and consistent introduction for new hires into the business. Poor onboarding, failure to follow through in supporting and communicating with employees, or subpar employee engagement will lead to people making an early exit.
Online Onboarding
Digital onboarding is just as, if not more, important for a company to do well. Since the interaction is entirely online, having an established process that can translate from in-house to the web is crucial. Whether the employee is a Virtual Assistant, online contractor, or a remote worker, they still need to be effectively onboarded in order for the business to thrive. Setting up regular online check-ins via Zoom or Skype, as well as ensuring virtual employees are integrated into teams are key. Those who work from home are as important and productive as the employees who come in every day, after all. They cannot be discounted for forgotten because they exist on a screen. If you’d like more information on digital onboarding, contact HIPPO Business Services.
Difficulties with Onboarding
Now, if onboarding was a simple task to undertake, there would be more companies that successfully manage it. At the moment, only 12% of employees think that their employers excelled at onboarding. For a process that has proven to be worthwhile for businesses financially, professionally, and mentally, it’s not something many have done well. This is because establishing a positive onboarding procedure takes time, and it is hard work. The formal process has to be created and established and perfected before its official use. It can take months for a new hire to be completely onboarded, and many owners don’t believe they have the time. However, onboarding is a long-term investment in both the company’s future and the future of its employees. All good things take time, remember?
Onboarding is different for every business that undertakes it. The one universal, however, is that it’s for the benefit of both the company and the employees.
