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Onboarding – A Key to Retention!

By on Jul 5, 2019 in Human Resources | 0 comments

Onboarding – A Key to Retention! By Maggie Johnson     If you think onboarding consists of new employees completing documents such I-9 and W-4 forms, among others, on their first day of employment, you may be missing the value a robust onboarding process can bring to your organization. Onboarding can be the key to increased employee engagement, higher productivity and lower turnover. After spending considerable time, effort and, most likely, dollars recruiting the right person to join your organization, it makes sense to make every effort to effectively assimilate that employee into your company for a mutually successful outcome. According to Work Institute’s 2019 Retention Report, there are 150 million people currently working in the US, that’s more than ever before. In 2018, 41.4 million US workers voluntarily left their jobs. National employee voluntary turnover was over 27%. The cost of voluntary turnover is estimated to exceed $600 billion. A report on onboarding by Urban Bound stated the following statistics:   Without Onboarding Companies lose 25% of all new employees within one year As much as 20% of staff turnover occurs within the first six weeks of employment It takes 8 – 12 months for new employees to gain proficiency With Onboarding 50% greater retention of employees 34% faster for new employees to gain proficiency It’s hard to retain employees, but you can increase your chances of keeping them by starting them out right! How? Based on the above statistics, the answer may be through a well-executed onboarding program. Here are some suggestions:   Reach Out to New Employees Before Their First Day of Work Send them information about the company Give them a call Send a simple “Welcome” email letting them know how excited you are that they will join your team On the First Day of Work Make sure your new employees meet everyone on the team and others who they might work with on a regular basis Make sure their desk is set up with a supply of tools they’ll need to do their job Give them a tour of the work premises Take them to lunch Send an announcement to the company about their hire Match them up with a Work Buddy/Mentor Assign a...

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