The benefits of onboarding extend way past new employee orientation and time to sign paperwork. Here’s how a thoughtfully planned process benefits everyone.
The Work Institute’s 2020 Retention Report found that 37.9% of survey respondents exited new jobs in 2019 within a year. Most of them left within the first 6 months. There’s more to onboarding new employees than having them sign paperwork and read about company policies. Providing them ample time, attention, and training to successfully settle in ranks high among the many benefits of onboarding. Cultivating a successful onboarding process will help new hires hit the ground running from their first day on the job.
Here we’ll explore measurable benefits that great onboarding programs provide to companies that take time to build and execute them.
Benefits of onboarding programs
It’s easy to assume that onboarding pertains primarily to job training. But the onboarding process is actually more involved and has a long-range impact on a company’s productivity and success. Here are 7 measurable benefits companies enjoy from a successful onboarding program.
1. Attract and retain top talent
While it’s easy to match perks and salary, it’s much harder to deliver on the intangible reasons why employees stick around. Examples of these include good rapport with managers, positive connections with other employees, and a thriving corporate culture. A good onboarding program enables a strong foundation for the intangible elements. These components create a desirable work culture that attracts and retains top talent.
2. Engaged employees early on
While company culture and core values differ depending upon the organization, fostering high employee engagement benefits all of them. Guiding every new employee through a thoughtful, educational, and fun program creates a positive onboarding experience that promotes early engagement.
3. Boosts business growth
Engagement should be the objective of any onboarding program. Not only because it builds culture and rapport, but because it also drives business growth. Using the employee onboarding program to gain new hire buy-in is more likely to result in a productive high-performer. A successful employee onboarding program helps increase the company’s productivity and achieve organizational goals critical to the company’s success.
4. Builds trust and alignment.
Forging a keen understanding of the company and its inner workings is an essential component to include when onboarding employees. An effective onboarding process educates and informs new hires about vital organizational practices and key company policies. It also includes the human element of meeting coworkers, managers, and top-level leaders.
This experience and knowledge help new hires understand and integrate into the company hierarchy and mission more quickly and effectively.
This is also a great time to review your mission statement with the new recruits. Encourage them to ask questions for a fuller understanding of your company culture and vision.
5. Helps forge connections among employees
The most engaged employees are those who have strong connections with their coworkers and managers. Help them build those connections by assigning them a mentor or buddy during employee orientation. Their mentor’s primary purpose will be to serve as a resource and sounding board for their onboarding experiences.
In addition, give them ample opportunity to establish rapport with their team members during their first days on the job. These relationships are the building blocks that turn new employees into productive members of the company.
6. Encourages open communication
Starting a new job can be intimidating. It’s often awkward and uncomfortable to share concerns or feedback about a new role and surroundings. A good onboarding plan provides the structure and setting for new hires to get answers to questions about their new workplace without pressure. Providing this forum from new employee orientation all the way through onboarding cultivates an environment in which employees can thrive.
7. Decreased employee turnover
Widespread employee turnover can negatively impact your bottom line and team morale. Implementing an onboarding program can increase your company’s talent acquisition success rate by ensuring a better fit from the start.
There are many lucrative benefits an effective onboarding program provides for employers. It can increase employee engagement, elevate new hire retention, and more. HR professionals and hiring managers are wise to prioritize their organization’s onboarding process so people company-wide can reap long-term rewards.
Looking to build your perfect onboarding program? Read our complete guide to employee onboarding now. Wondering how Zenefits’ software and services can help with all your HR management tasks? Easily request a demo and speak with our HR advisor team.
For more tips, tools, and other resources for HR and business management, visit Workest by Zenefits daily.
This post was originally published July 1st, 2015 and has since been updated.