The Link Between Onboarding and Retention
In Jim Collins’ book Good to Great, he emphasizes the importance of “getting the right people on the bus.” He stresses that getting the right people in the right roles enables organizations to thrive, expand and nimbly adapt to changing market conditions. He continues to say that the right people don’t need to be managed or motivated; they’re innately driven to produce and contribute to the company’s success.
Reflect for a moment about your organization’s new employee experience. You’ve spent considerable time, energy and money to find the “right people.” But does your onboarding process reflect the caliber of employee you actually want to retain? The first interactions with new employees – the pre-boarding and onboarding stages – set the tone for the relationship.
This first impression can lead to a long-lasting engaged employee or it can make the employee question their decision to join the company and start looking elsewhere. Most new employees decide whether to stay or go within the first 90 days.
Modern employees expect onboarding to be as graceful and seamless as ordering a favorite product from Amazon. Is your onboarding experience welcoming, thoughtful and engaging? Does it excite and engage your new hires?
5 Amazing Onboarding & Retention Facts
- Companies with an engaging onboarding program retained 91% of their first-year workers. (SHRM)
- New hires with a well-structured onboarding program were 69% more likely to remain at a company for up to three years (SHRM).
- Companies with an efficient onboarding process enjoyed a 60% year-over-year improvement in revenue. (Aberdeen)
- Companies with an efficient onboarding process also saw a 63% year-over-year improvement in customer satisfaction. (Aberdeen)
- Onboarding improves company ROI by more than $79,000 per year. (Aberdeen)
Onboarding that’s done right can improve retention by up to 82%. But according to Gallup, only a very meager 12% of employees feel strongly that their company is successful at the process of new employee onboarding. So if your onboarding program isn’t up to par, then you can’t expect your retention rate to shine. Why? Because onboarding and retention go hand-in-hand. That’s why a strong, well-orchestrated strategy can be the impetus to improved employee retention rates.
Trust Our Onboarding Expertise
If your retention rate is problematic and you want to revisit your company’s approach to employee onboarding, give Click Boarding a call. Our mobile-first platform invigorates HR and new hires with blended form management, employee engagement, digital process flows and integrated data into flexible, efficient and compliant solutions. We’ll help you start your digital onboarding path to tomorrow!