Onboarding Your New Hires
According to Keith Ferazzi for the Harvard Business Review, almost a quarter of companies say they don’t bother with formal onboarding programs.
That’s a startling revelation given the following U.S. data included in Ferazzi’s report:
Nearly 33% of new hires look for a new job within their first six months
Some 23% leave before their first anniversary
Turnover costs are estimated to range between 100% and 300% of the replaced employee’s salary
New employees typically take eight months to reach full productivity.
The good news, according to a study by the Wynhurst Group, is employees who go through structured onboarding are 58% more likely to remain with the organization after three years.
Systematic feedback at 30, 90 and 180 days help organizations spot potential problems before they happen or escalate. Asking new employees for their insights, especially in the early weeks and months of their employment, reinforces their value and their employer’s gratitude.
To discover a sample list of 20 powerful onboarding questions from TalentMap, please click here.