An effective onboarding sets a solid foundation for long-term talent engagement and satisfaction. And this is no longer a novelty.
However, is this considered by companies? While many companies perform well (and a few truly excel), market data suggests there's still considerable room for improvement.
This time, we will briefly address the benefits of designing a memorable onboarding process and some key points to achieve it.
Why it's important.
Onboarding is the perfect (and necessary) opportunity to welcome new talent, introduce them to the company's culture, and provide the tools they need for success from day one.
It's the ideal moment to make a significant difference in the employee experience.
According to a study published by Harvard Business Review, 33% of new employees actively seek another job within the first six months if they have had a poor onboarding experience. This is a statistic that should be reason enough for self-assessment of the current onboarding process, aiming to identify weaknesses and improvement opportunities.
A Positive First Impression.
The quote "You never get a second chance to make a first impression" is one of my favorites because I believe it applies in 99% of cases, and it's particularly relevant here. The recruitment process is not exactly economical, and gaining access to the key talent that companies need comes with significant costs. Therefore, the importance of the post-hiring process cannot be overlooked. In fact, if an employee resigns within the first six months at the company, there are two major reasons: mistakes in the attraction, selection, and hiring process, or errors in the onboarding phase.
It's not an expense, it's an investment.
We must shift the perception of onboarding from an expense to viewing it as a strategic investment. An effective onboarding can yield substantial cost savings related to employee turnover and reduced productivity. It's essential for companies to fully grasp the extent of its benefits to maximize the return on this investment.
Key Benefits of Effective Onboarding.
1. Increased Productivity.
An effective onboarding can boost new employee productivity by up to 70%, as indicated by the study "The True Cost of a Bad Hire." It enables a swift adaptation to their responsibilities, internal systems, and company policies, allowing them to make a significant contribution from day one, reducing their learning curve and increasing productivity.
2. Improved Retention.
Employees who have a positive onboarding experience are more likely to stay with the company in the long term, enhancing their job satisfaction and saving time and resources on the search and hiring of replacements.
3. Stronger Engagement.
Employees who go through an effective onboarding are more likely to align with the company's goals and values, thus increasing their employee engagement.
4. Cost Reduction.
An employee who undergoes a positive onboarding leads to cost reductions associated with turnover and hiring new talent, also positively impacting future employee attraction costs.
With so many powerful benefits, it's hard to understand why some companies still don't invest adequately in this process. That's why at Happy Company, our mission is to support companies in various processes that contribute to the well-being of their talent, and Onboarding is one of them.
To maximize its potential, it's essential to implement three key initiatives:
Onboarding Kit: more than just a gift.
Far from assigning it a superficial or materialistic meaning, we believe that it's a crucial element in welcoming talent, making them a part of the culture, introducing them to corporate values, and helping them feel like part of a new team.
To achieve all of this, it's essential to design the kits with a creative strategy.
It's not just about randomly including items with the company logo in a box. It goes much further: it's about finding the right mix of products that add value and are not merely promotional items. You can find more information here.
User-Friendly Employee Handbook.
If we truly want talent to find the information they need, when they need it, it's essential that when designing the Employee Handbook, the focus is on the user, especially on their journey during the onboarding process.
It should be highly visual and have an appealing design aligned with the company's branding. This handbook is becoming increasingly necessary in the current context of remote work, where the lack of physical interaction demands support.
A great upgrade for this manual could be a chatbot that provides the same information but in an interactive way with talent. This will also help measure weaknesses and design training strategies.
Team meetings, Mentoring & Feedback.
The initial team meetings are crucial for a successful integration. It's essential to convey all necessary information regarding roles, processes, and company policies. When the structure allows, assigning a mentor to new talent is invaluable. It aids in adaptation, boosts confidence, productivity, skill development, and, most importantly, facilitates knowledge transfer within the company. Ideally, they should establish contact from day one and discuss role expectations and objectives.
Feedback is an essential component for productive first months of work. Both the new talent and their team should have an open communication channel to address questions and strengthen relationships.
Conclusion:
It's crucial for companies to reflect on the potential of onboarding and start investing in it significantly. Successful hiring processes are not just about filling vacancies but also about nurturing and retaining talent. Retaining key talent is essential for the sustainable growth of an organization.
The investment in exceptional onboarding not only results in more engaged employees but also enables internal development and the promotion of leaders from within the organization. This, in turn, reduces the reliance on costly external hiring and shortens adaptation times and learning curves.
Onboarding is an investment, not just a formality.
When new employees feel valued, trained, and part of the culture, they are better prepared to contribute to the organization's success.
Do not underestimate the power of a memorable onboarding; it could be the key to unlocking talent success from day one.
People matter to us. People inspire us.
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