In a world where businesses unanimously recognize the need for putting the human element before anything else, there are still companies and HR teams that may not be fully convinced about the perks of investing in its employees. Especially when it comes to employee onboarding, one can still find companies that will argue that it is not a business-critical investment, in terms of expenses and time.
However, a recent study from Brandon Hall Group states that an organization could improve recruit retention by 82% with the appropriate onboarding programs and activities. And retention is just one of the several benefits of implementing the right onboarding strategy.
There are many ways in which onboarding positively impacts employees, businesses, and their bottom-line. Here are six of the most interesting facts about employee onboarding programs.
1. It Makes Employee Acclimation Easier
Acclimation is the first step an organization must undertake with the employee onboarding program. It allows the company leaders let the recruits know more about the organizational goals, mission and vision, work culture, etc.
With a proper onboarding program, you can give new employees a deeper insight into company goals, perspectives, policies, and more. Whenever an individual joins a new company as a fresh or an experienced professional, the work culture and ambience are completely different than any other organization. Therefore, the onboarding programs can help employees tune themselves with your organization.
2. It Improves the Performance and Productivity of New Hires
After an extensive study, the Society for Human Resource Management discovered that consistent and effective onboarding programs could increase productivity by 50%. In addition, with extensive employee onboarding training programs, the new hires will start feeling confident in getting started with their roles.
This will allow them to concentrate on the new tasks assigned to them and complete them efficiently. Besides, it is the best opportunity to train the recruits per your organization’s demands. They can learn new skills, imbibe more knowledge, and brush up on their areas of expertise.
3. It Helps Reduce the Attrition Rate of New Hires
A study conducted by Deloitte concluded that about 4% of employees quit their job on the very first day. This is due to a lack of effective onboarding programs, improper HR management, and an immediate introduction to complex work processes.
This will hamper the resource management process and could also impact any ongoing projects. To avoid losing good talent, it is imperative, therefore, that companies invest in solid onboarding programs.
4. It Ensures Gradual but Effective Momentum
If new hires are expected to give 100% productivity from their first day, frustration is bound to happen. You cannot expect everyone to actively take up every responsibility that comes with their role right away. Most employees will not be able to cope with such situations.
That is why arranging a proper and long-term employee onboarding program is necessary. It will help ease the recruits into their respective roles without putting them in hot seats. They will have enough training to handle the work pressure and excel in their position. It will also become easier for them to accept their responsibilities and tune in with the roles.
5. It Increases the Overall Company Revenue
With improved employee productivity, your organization’s revenues will also increase. But this is only possible when you engage your new hires in efficient onboarding programs. They will learn the ways of your organization which will in turn help them tackle different projects.
With initial proper onboarding, they can later deliver their tasks on time with no missed deadlines. Work quality will also improve if new joinees feel engaged in the employee onboarding programs, as they will want to produce good work for the company. It will therefore be worth the money you have to invest in training and workshops.
6. It Helps Improve HR Management Processes
With structured employee onboarding programs, HR departments can manage the new hires easily. It allows them to organize onboarding sessions based on the employee’s role and function. This makes the onboarding program feel more customized and relevant to each individual employee, as opposed to having one template for the whole organization.
Employees are an essential asset to every organization, starting from startups to large MNCs. Therefore, catering to their needs and understanding their hesitations is crucial. You can make this possible with the help of employee onboarding programs. It will also let your HR team connect with the new hires at a deeper level and understand their capabilities.
About the Author: Revanth is a B2B Marketer who has a definite flair for outreach and networking, alongside being a prolific writer. As an author, he enjoys exploring all things related to digital adoption and employee onboarding. When the 'B2B Marketing ninja' mask is off, Revanth is an ardent tech geek, a lover of road trips and sports enthusiast who plays badminton, cricket or any sport, really!