Your onboarding process is the first experience that people have with your company. It sets the tone for how they transition into their new role as your employee. If they have a poor first impression, it would give them a reason to leave.
LINKS:
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https://etactics.com/blog/employee-onboarding-statistics
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But if the experience is exceptional, then they’ll maintain their positive attitude and opinion towards your company. It will quickly make their anxieties fade and they’ll feel eager to be in their new role.
Around 20% of new hires leave in the first seven weeks of employment. This statistic is shocking enough, but to make matters worse, it increases to 25% within the first 12 months of employment. After 18 months, nearly half of new hires move to another company.
69% of employees say that after a structured onboarding process, they are likely to stay with the company for at least three years. Three years certainly beats seven weeks, wouldn’t you agree? It also beats the 18-month milestone I mentioned before. Not only are employees staying longer, but they’re also getting more committed to the business. Investing in staff training helps retain people in the long run. This also means that team members will stay more engaged and, in turn, be more productive.
Organizations with a strong onboarding process improve retention rates by 82%. Not only does a strong onboarding program lead to improved retention. It also boosts productivity by over 70%. These exceptional programs do three main things… One, they use tools and technology that can help a person succeed. Two, they emphasize assimilation into the organization. And three, they foster social networking.
78% of organizations with above average training saw increases in revenue in the last fiscal year. One in three of these businesses said that their revenue increase was more than 10%. Nearly two-thirds also saw positive gains for the majority of their key performance indicators. Over half said they had significant gains in staff engagement metrics, including… employee turnover… absenteeism… productivity… and team member satisfaction.
Standard onboarding processes translate to 50%greater employee retention. According to Harvard Business Review, a standardized process can help retain half of a workforce. Those who would have otherwise left end up staying because there was a great impression from the beginning. Just imagine how much higher these retention rates would be for an above-average process.
In organizations with high turnover rates, highly engaged business units achieve 24% lower turnover. Let’s say that you already do so much to keep your staff happy at work. You provide excellent compensation and benefits and have even implemented incentive programs.
But you’re still experiencing high rates of turnover.
One important detail is their level of engagement. Even in organizations that have high turnover rates, business units can retain staff if they’re highly engaged with their team. A way to boost this engagement is through effective onboarding.
In organizations with low turnover rates, highly engaged business units achieve 59% lower turnover. Even when turnover is low for your organization, you can reduce them even more. Business units prove this through their high engagement. In a company that has low turnover, highly engaged business units have even lower rates. Again, using the onboarding process to engage them within your team is one way to do this.
22% of employees reported they would look for another job if they did not receive good training. In addition to this 22%, another 41% of people admitted they might look for a job elsewhere if they were unhappy with the company’s induction and onboarding processes.
Over half of workers said they would go “above and beyond” if they felt they had a positive first experience with an employer. Another one-third said they might do the same, depending on other factors. So, if you want your staff committed to your organization, it starts with new hire training. Investing in the experiences of your staff will help you retain staff and boost their performance.
By now, you can see why it’s necessary to perfect onboarding for incoming employees. If you don’t impress them right away, then you’ll quickly notice the consequences, such as… lack of employee referrals… high turnover rates… or poor performance.
► Reach out to Etactics @ https://www.etactics.com
►Subscribe: https://rb.gy/pso1fq to learn more tips and tricks in healthcare, health IT, and cybersecurity.
►Find us on LinkedIn: https://www.linkedin.com/company/etactics-inc
►Find us on Facebook: https://www.facebook.com/etacticsinc/
#EmployeeOnboarding #EmployeeRetention
LINKS:
____________________________________________
https://etactics.com/blog/employee-onboarding-statistics
____________________________________________
But if the experience is exceptional, then they’ll maintain their positive attitude and opinion towards your company. It will quickly make their anxieties fade and they’ll feel eager to be in their new role.
Around 20% of new hires leave in the first seven weeks of employment. This statistic is shocking enough, but to make matters worse, it increases to 25% within the first 12 months of employment. After 18 months, nearly half of new hires move to another company.
69% of employees say that after a structured onboarding process, they are likely to stay with the company for at least three years. Three years certainly beats seven weeks, wouldn’t you agree? It also beats the 18-month milestone I mentioned before. Not only are employees staying longer, but they’re also getting more committed to the business. Investing in staff training helps retain people in the long run. This also means that team members will stay more engaged and, in turn, be more productive.
Organizations with a strong onboarding process improve retention rates by 82%. Not only does a strong onboarding program lead to improved retention. It also boosts productivity by over 70%. These exceptional programs do three main things… One, they use tools and technology that can help a person succeed. Two, they emphasize assimilation into the organization. And three, they foster social networking.
78% of organizations with above average training saw increases in revenue in the last fiscal year. One in three of these businesses said that their revenue increase was more than 10%. Nearly two-thirds also saw positive gains for the majority of their key performance indicators. Over half said they had significant gains in staff engagement metrics, including… employee turnover… absenteeism… productivity… and team member satisfaction.
Standard onboarding processes translate to 50%greater employee retention. According to Harvard Business Review, a standardized process can help retain half of a workforce. Those who would have otherwise left end up staying because there was a great impression from the beginning. Just imagine how much higher these retention rates would be for an above-average process.
In organizations with high turnover rates, highly engaged business units achieve 24% lower turnover. Let’s say that you already do so much to keep your staff happy at work. You provide excellent compensation and benefits and have even implemented incentive programs.
But you’re still experiencing high rates of turnover.
One important detail is their level of engagement. Even in organizations that have high turnover rates, business units can retain staff if they’re highly engaged with their team. A way to boost this engagement is through effective onboarding.
In organizations with low turnover rates, highly engaged business units achieve 59% lower turnover. Even when turnover is low for your organization, you can reduce them even more. Business units prove this through their high engagement. In a company that has low turnover, highly engaged business units have even lower rates. Again, using the onboarding process to engage them within your team is one way to do this.
22% of employees reported they would look for another job if they did not receive good training. In addition to this 22%, another 41% of people admitted they might look for a job elsewhere if they were unhappy with the company’s induction and onboarding processes.
Over half of workers said they would go “above and beyond” if they felt they had a positive first experience with an employer. Another one-third said they might do the same, depending on other factors. So, if you want your staff committed to your organization, it starts with new hire training. Investing in the experiences of your staff will help you retain staff and boost their performance.
By now, you can see why it’s necessary to perfect onboarding for incoming employees. If you don’t impress them right away, then you’ll quickly notice the consequences, such as… lack of employee referrals… high turnover rates… or poor performance.
► Reach out to Etactics @ https://www.etactics.com
►Subscribe: https://rb.gy/pso1fq to learn more tips and tricks in healthcare, health IT, and cybersecurity.
►Find us on LinkedIn: https://www.linkedin.com/company/etactics-inc
►Find us on Facebook: https://www.facebook.com/etacticsinc/
#EmployeeOnboarding #EmployeeRetention
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