On the fence about your onboarding process?
You shouldn’t be. Whether you haven’t created a formal onboarding process, haven’t looked at it for years or are getting mandates from senior leadership about changing the program, you need to act fast. The more time you spend without a good onboarding process, the less productive your company is and the more employees you will undoubtedly lose.
If you need a reason to fix your onboarding, look no further than these five signs. If they’re all too familiar, it’s time for a new employee onboarding process.
1. You still think NOT spending money on new employee onboarding is a good idea.
Allocating none of your budget to a new onboarding process may seem like a good idea to save money… but in the long run, the opposite is true. The 68% of companies which rely solely on on-the-job training to onboard new employees do save money in onboarding, but the outlying costs are much higher. The cost of hiring, training, and putting a new employee to work is around $11,000, it doesn’t seem like a money-saving endeavor so much as a way to ruin the investment you’ve already made in your employees.
2. Your lack of an onboarding process leaves new hires confused and frustrated.
Setting goals for the new employees (a staple in the onboarding process) is crucial to the success of the new team member; but unfortunately, 60% of companies indicate they don’t set internal milestones for their new hires. Placing employees into their new roles without any understanding of how their work fits into the company’s larger vision, you set them up for failure. Investing in a robust onboarding program prevents new hires from floundering under the pressures of expanding their roles into other parts of the business. A clearly defined career path, according to 83% of frontline employees, supports employee longevity; a definition you provide during the onboarding process.
3. Your onboarding is getting rusty…or worse. Dusty!
It’s not enough to simply spend on crafting a great onboarding process. Times change, and processes that were once state-of-the-art, clean and simple three years ago age are outdated and obsolete now. Updating your onboarding process is a constant endeavor, and you’re not alone in the sustained improvements: 71% of companies in a recent survey say they’re in the process of updating their onboarding. Take a look at your onboarding process every once and awhile. Better yet, go through it yourself. Notice any pain points? It’s probably time to address them.
4. Even your executives notice the onboarding process problems.
You know the old stereotypes about executives: they’re out of touch. Although they might sit in the corner office, they have a good understanding of how the onboarding process affects the recruitment strategy and their business outputs. In 2018, that myth was dispelled quickly. Of the 400 CEOs surveyed, a meager 38% of executives hired externally and 28% of executives hired internally “felt they were fully prepared for their new roles.” When your executive leaders say it’s time your organization’s onboarding process was reassessed and remodeled.
5. Your onboarding process failed, and your employees are leaving.
They’ve been through the onboarding process (either the scanty one you have in place or the simple employee handbook you gave them) and despite what you thought was a good fit, they continue to leave the company. Before you call a meeting to address this important issue, make sure you take a look at your new employee onboarding program. Getting a new hire up to speed means a short-term sacrifice in productivity.
Is an onboarding process really that important?
Absolutely, it is. According to a recent survey, 53% of workers who quit their job within the first six months cited “review and feedback of early contributions” as one of the main reasons they decided to leave the company. So be aware: if your new hires seem excited for the job initially then quickly fall off, you may want to look into extending your onboarding program past just the first week. In fact, you may want to reconsider your onboarding program altogether if it falls short.
With a refreshed and modern onboarding process, you can depend on:
- a shortened time-to-productivity
- better overall new hire performance
- improved employee retention
There’s never been a better time to take a closer look at your onboarding than right now. Ensure your onboarding process is effective now and in the future. Depend on the experts at Click Boarding. We’re here as your consultant and ready to help automate the process and delight your new employees. When you’re ready to focus on people and let the process run itself, we’re just a click away.