Employee retention, engagement, satisfaction, productivity….all things that keep HR professionals burning the midnight oil for the next best recruitment trends, performance management practices or engagement strategy. While those endeavors are important and certainly should be pursued, what’s even more important is taking into account how effective onboarding solutions get HR teams one step closer to that next best thing.
What is your organization doing to maximize onboarding, including remote onboarding? Here are 18 onboarding statistics to remind us just how important new employee onboarding really is, regardless of whether it’s in-office or virtual!
1. The results from an August 2020 survey from Software Advice indicated that 49% of HR leaders plan to hire more fully remote workers when the pandemic is over (source).
2. The number of employees working in a remote capacity has grown by 44% in the last five years (source).
3. According to Gartner, 70% of businesses are allowing employees to bring home work equipment, and 58% have supplied new hardware (source).
4. Employees working virtually are 35% to 40% more productive than their in-office counterparts (source).
5. 69% of employees are more likely to stay with a company for three years if they experienced great onboarding (source).
6. Up to 20% of employee turnover happens in the first 45 days (source).
7. New employees who went through a structured onboarding program were 58% more likely to be with the organization after three years (source).
8. Organizations with a standard onboarding process experience 50% greater new hire retention (source).
9. The organizational costs of employee turnover are estimated to range between 100% and 300% of the replaced employee’s salary (source).
10. 65% of employees are confident they can find a better position elsewhere that offers more compensation (source).
11. 23% of new hires turnover before their first anniversary (source).
Performance & Productivity
12. 60% of companies fail to set milestones or goals for new hires (source).
13. It typically takes eight months for a newly hired employee to reach full productivity (source).
14. Only 37% of companies extend their onboarding programs beyond the first month (source).
15. 35% of companies have no formal onboarding program (source).
16. In the U.S. and U.K., an estimated $37 billion is spent annually to keep unproductive employees who don’t understand their job (source).
17. Organizations with a standard onboarding process experience 50% greater new hire productivity (source).
18. Manager satisfaction increases by 20% when their employees have formal onboarding training (source).
The need for effective onboarding solutions is clear, and this is just 18 onboarding statistics! Each year, more research reveals how valuable it is to start employees off on the right foot.
Is your organization onboarding employees effectively or onboarding them at all? Don’t be late to the game. Invest in onboarding today.
Click Boarding is your onboarding solution. We can help maximize your onboarding process with our modern, mobile-first onboarding software!