5 Onboarding Statistics That Will Change the Way You Think
You’re probably no stranger to the importance of onboarding; we’ve said it before and we’ll say it again- don’t ignore this crucial driver of your company’s success. Tied in closely to everything from your workforce retention, productivity, morale and more- the impact of a well crafted onboarding strategy will have your employee engagement skyrocket like never before.
Sure, these advantages of a solid onboarding framework sound enticing on their own, but can they be backed by actual data? The simple answer is yes! We’ve done our research and put together 5 key onboarding facts that help examine its role so you can get a full picture of the wins up for grabs:
1) 56% of new employees want a mentor
Your fresh hires don’t want to be greeted by a vacuum; too often these employees are led to their desks and left to fend for themselves in the unfamiliar environment. Already facing the struggles of steep learning slopes and new surroundings, onboarding success and mentorship goes hand-in-hand.
To help your hires feel a sense of belonging and acceptance, it’s recommended for companies to have a buddy system in place, or alternatively a mentorship program. This will provide them guidance and also nurture your talent’s ability to produce better results at work.
2) Almost 33% of new hires look for a new job within their first six months of joining
The first 6 months determine your new employees’ ability to fit into the new workplace, and find their footing in a landscape full of challenges and opportunities. Empowered with the right training, resources and leadership- they’ll feel truly immersed in the workplace culture by the end of this time period.
On the flip side, companies that struggle to build their staff’s confidence end up losing them to competitors- a pricey result of poor onboarding planning. With 33% of new hires throwing in the towel within 6 months of joining, the cost of replacing these employees is hefty both in terms of recruitment processes and loss of productivity.
3) An estimated 50% of new employees don’t understand their company’s mission and values after 90 days
As a company, you have a mission and defined set of values that you want your employees to commit to, and pursue relentlessly. However, this may become difficult when your fresh hires aren’t even aware of what you want to achieve as a business, let alone how to achieve it. Needless to say, purpose and meaning go a long way to keep your workforce feel fulfilled on a day-to-day basis.
It should come off as no surprise that your organization’s culture is only as strong as the employees supporting its embodiment. This is why your new employees should have a clear understanding of your values; it will serve as their fuel to remain inspired, and help overcome their challenges in both individual and team capacities.
4) Employees feel 18x more engaged if onboarded correctly
Mindfully integrating your fresh recruits into the organization can boost employee satisfaction, and elevate their desire to deliver work that represents their best efforts. After all, if you work so hard to secure customer relationships, it’s only fair that your relationships with employees should be protected with the same enthusiasm to ensure that they’re long-lasting.
Instead of using a sink or swim approach to see if your hires can perform their duties, businesses should instead aim at an exceptional onboarding experience right from the get-go. Ensuring pre-arrival arrangements such as setting up all IT accounts or payroll authorization, rolling out a warm welcome on the first day, and fun team building activities will positively reflect your commitment to seeing them succeed.
P.S.43% of new hires surveyed stated that they didn’t have a dedicated workstation set up until after week one- a huge staff engagement red flag.
5) Manager satisfaction rose by 20% when their employees were provided formal onboarding training
Incorporating training into the onboarding program plays an instrumental role in providing new employees with the skills needed to nurture them into long-term assets. Having the information and knowledge needed to perform their jobs diligently from day one means happier managers with little need to constantly shadow under performing new joiners.
By using an onboarding solution such as Afterhire that provides easy access to the work manuals, guides and handbooks, managers can avoid productivity killers that slow down progress at the company. Moreover, they can invest more time into sharing feedback and in turn set the tone for a culture thriving on attainable goals.
Employees also benefit from the security of knowing that they are well prepared to face the challenges their new role will bring along, in addition to being able to produce high quality work in line with their management’s expectations. This is why top employers are known for focusing on employee development as a core foundation of their onboarding strategy, thus liberating their managers from new hire dependencies.
Having an onboarding program in place makes the transition less daunting not just for the new employee, but also the management. Strengthening compliance, culture, and communication, the improved engagement help fresh hires feel like an effortless fit in the company with a drive to make your vision a reality.
Interested in learning how you can use Afterhire’s technology to revamp your onboarding strategy? We’d love to hear from you; request a free demo today to see how you too can accelerate the productivity of your new hires in no time!
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