Employee Onboarding is more than just new hire orientation. Onboarding is a process that can take a year or more. It should be effectively integrated with Learning and Development activities for optimal results. This melding together of the two yields a strong framework on which a company can build and track relevant competencies within their teams.
From the initial welcome, human resources paperwork, job understanding and expectations, ramp up, and so much more, the onboarding process can become really frustrating – and if handled poorly, it can increase turnover rate. Our systems provide flexible, customizable tools in which our clients can build curricula that support the onboading process. With custom-branded, secure sign and acknowledge packages, we teach our clients how to distribute important company manuals, policies and guidelines in an organized, trackable manner. Corporate welcome, legal advice, motivational and orientation videos can be seamlessly integrated within our courses and managed by a client's own training administrators with help from our team.
Monster.com reports 30% of external new hires turn over within the first two years of employment. Retention statistics from other organizations, including the Society for Human Resources Management (SHRM), show that turnover can be as much as 50% in the first 18 months of employment. Two decades ago, according to the Bureau of Labor Statistics, the average number of jobs held in one person’s career was six. Today, the average number of jobs held is 11. And according to the Bureau of Labor Statistics, the cost for replacing an employee is over 25% of their annual salary (some say 50%), so it is very costly when you don’t get it right.
These are great reasons for examining the success of your onboarding processes.