According to Monster.com, within the first two years of employment 30% of newly hired employees will turn over. If those employees are leaving because they aren’t satisfied with their job, then you can mitigate the turnover by improving the onboarding process.
Sometimes, an employee might leave because they are overwhelmed with the position and they don’t feel like they have the right skill set to complete the expected tasks. Other times, an employee might leave because they are bored and they are seeking a job that offers higher work satisfaction.
Onboarding will allow you to assess the new hire’s transition into the company, allowing you to look for ways to ensure their satisfaction and increase retention.
Onboarding is More Than Just Orientation
Most companies assume that onboarding is the same as new hire orientation, but the truth is that there is so much more to an effective onboarding process. New hire orientation involves a discussion about benefits, payroll information, and filling out the paperwork for human resources. On the other hand, onboarding helps you to develop a happy employee who is contributing to the overall goals of the company.
Some of the aspects that should be integrated in the onboarding process include:
- Explaining the professional culture within the company
- Conveying the organization values and brand
- Aligning performance with company expectations
- Providing tools that are needed to assimilate the new employee into the team
- Quickly ramping up productivity in order to avoid wasted time
If you can get engage the new employee sooner, then they will be less likely to quit within the first year. The problem is that new hires are often bogged down with seemingly menial tasks, which means that it takes longer to help them achieve full productivity.