Why is Onboarding so Important?
Your employees are the heart of your business. To better retain staff — and keep them happy — you can show you value them from the start.
In today’s time, the common workplace moves faster and demands more. Hitting us with COVID-19, we have witnessed the importance of culture, leadership recruitment, and how to get the right people who exhibit the character you are looking for in an employee. The question is, how do you keep them? Where do you start?
This is where Onboarding comes in!
A successful onboarding program not only helps new hires feel like they’re part of the team. They’ll also better understand the process and how their role contributes to the overall success of your business.
It’s simply the process of comprehensively integrating a new employee within your business and its culture by giving all the information needed to become a productive member of the team.
Last April, we shared some great insight on Recruitment (you can check out our website to give you an idea on Recruitment) and I believe that having a good Recruitment process and Onboarding process will create a big difference in any workplace. This will allow you to know the nitty-gritty on both and will help you build a dream team.
So what is the importance of the Onboarding Process?
It allows new hires to be productive.
Most definitely as a new employee, you will go through the onboarding process. Having good Onboarding in place will get new hires up to speed with the staff who have been with the company for longer. This will peak their productivity levels much faster than having them figure out their role and tasks on their own.
According to HRonBoard of 2020, effective onboarding increases employee performance by up to 11%. The stats speak for themselves – onboarding matters. By welcoming new starters with a positive onboarding experience, businesses can massively improve their levels of staff retention and engagement.
Continuous training and engagement during this time will help employees feel at home and comfortable in the company.
It teaches new hires about their roles and responsibilities
By providing proper Onboarding procedures, checklists, and training for the employees. These tools provide them with the knowledge they need to excel in the business and have a better idea of how they can excel in their job role. Ensure that they understand the vision, mission, and culture of the company to guide themselves with the values your company upholds.
It is through onboarding that your new employees learn how to meet the expectations that the company desires. Employees need to know where their job role fits into the company and how their position is valuable to the company.
It reduces new employee anxiety
I believe we’ve all experienced it. It is stressful sometimes being a new employee starting in a new environment with new people. With a good onboarding process, Employers can reduce this stress by providing all information that their new hire needs to fulfill their role.
Having a strong and effective onboarding process can result in happier employees. It gives them a sense of belonging and allows them to mingle and get to know one another. It helps people discover their role and discover how their role fits with the company’s workforce.
Reducing employee stress starts in your onboarding process. During their orientation and introduction. It is important that these days are celebratory, welcoming, and informative.
It cuts down turnover and turnover costs
Let’s be clear, turnover is very expensive. If we’re talking estimates, the total cost associated with replacing an employee ranges between 100-300% of an individual’s salary. When an employee quits, other employees need to pick up the slack, putting time, energy, and resources out of the bag. Whenever a company has to find a replacement, they are losing all of the knowledge and productivity the old employee had to offer. The company also has to spend valuable time and money, trying to find a candidate to fill their position.
Investing in an effective onboarding procedure saves money by retaining 50% of new hires than they would otherwise.
My final thoughts, your team culture includes how you work with one another, so it’s important that new hires are empowered to do their jobs. It’s now up to your business to build an effective formalised onboarding plan that has a real impact on your employees and your business.