Employers teach new workers for several months during onboarding to acquaint them with the company and their tasks. Why is an effective onboarding process necessary, even if it takes a long time?
What is the significance of the Onboarding Process?
Employees are acclimatized to their role, the firm's philosophies, and what the organization has to offer during onboarding. It also engages employees, resulting in employees that are dedicated to the company's success, as well as assisting in the retention of new hires by making them feel like a part of the team.
According to a study, one out of every ten employees has left a business due to a poor onboarding experience, with 37% of employees saying their manager did not play a vital part in their onboarding experience assistance.
Employee attrition and productivity loss rise when suitable onboarding procedures are not followed. Every year, firms lose a lot of money due to low employee engagement.
Employees that are engaged are 87 percent less likely to leave their organization. In comparison to disengaged employees, they are five times less likely to depart. When a company provides excellent onboarding, 69 percent of workers will stay for at least three years.
This article will discuss onboarding, including what it is and why it is so important for a company's success.
What is Onboarding?
When a company offers new employees training and information to align them with their new role, this is known as onboarding. This allows them to immediately grasp their function, the expectations of their employer, and company culture.
Who is responsible for Onboarding?
The employer, HR team members, or a supervisor is in charge of onboarding. All of these personnel may help with onboarding by introducing the new employee to various elements of the business.
During the onboarding process, it is usual for a new hire to be allocated a peer mentor. This can make the learning process easier for new workers by giving them a sense of security in their new workplace.
Employers should choose a peer mentor who will have a good impact on the new recruit and who exemplifies the qualities they want the rookie to have. At this moment, employee engagement is crucial.
Why is Onboarding Important?
Onboarding is important since it helps new employees integrate into an organization. New hires are given the information, training, and support they need to become productive team members.
Onboarding also aids in acclimatization, employee engagement, and retention of employees. Employees are familiarized with the company's requirements as well as its resources after they have been acclimated.
New hires can become involved after they are familiar with the firm and their duties. This is crucial because engaged employees are more productive and are more likely to stay because they care about the company's success and want it to thrive.
Here are 3 top reasons why Onboarding Processes are crucial for any Organization:
- Onboarding enables new hires to get acclimatized to their new surroundings:
It is critical to have an onboarding programme in place for new workers since it allows them to gain a head start and become familiar with the organization.
Acclimation extends well beyond simply pointing out where the restrooms are. When an employer offers a new employee a detailed overview of the company's goals and values, this is known as acclimation.
While hiring new employees, the employer and employee can discuss how the new hire can contribute to the company's goals while doing their job duties. Explaining what the organization expects of new employees helps them succeed and creates trust!
Acclimation also gives employees a chance to learn about and appreciate what the firm has to offer, whether it's exciting career development options, monthly dinners, or a mentorship programme.
As a result, effective onboarding equips new hires with the tools they need to become successful and productive members, resulting in increased new hire productivity.
It encourages new employees to get more involved with the company:
Employees are more likely to become engaged once they understand the company's perspective and what it has to offer.
Employees who are engaged are those who are dedicated to their company and their function within it. These are the types of people who give their all every day because they genuinely care about their company and want it to succeed.
The onboarding experience is critical because it communicates the company's commitment to them, resulting in engaged employees with a strong connection to the organization. Taking the effort to train new employees and make them feel welcome boosts employee retention since they are more likely to feel committed.
There is a direct co-relation between the number of engaged employees and a multitude of outcomes. Employees who are more involved provide better results than employees who are less engaged. The following are some of the advantages of having more engaged employees:
Profits that are higher
Reduced employee turnover
Improved safety records
Product quality that is higher
Customer feedback that is more positive
Employees miss fewer days of work.
As a result, having an onboarding strategy aids in the development of engaged employees who may boost the company's productivity, company culture, and overall performance.
- Effective Onboarding enhances Employee Retention
Onboarding is particularly important since once a new employee has become acclimated and engaged with the organization, they are more likely to stay. Employee retention is critical since high turnover is both difficult and costly for a business.
"Why does it cost so much to replace an employee?" you might think. Finding a successor, according to a study, comes with a slew of direct and indirect expenditures.
Soft costs, or indirect expenses connected with rehiring, account for 67 percent of the money, according to the report. When hiring new employees to replace a former, an employer incurs soft costs that include the amount of productivity, knowledge, and time lost.
The other 33% of the funds will be used to cover "hard costs," or direct costs involved with hiring new employees. Recruiting potential employees, conducting background checks or drug testing, and hiring workers for temporary labor are all examples of hard costs.
To put it another way, losing employees is incredibly expensive. When a corporation has to replace an employee, they lose all of the expertise and productivity that the previous person provided. In addition, the corporation must spend time and money looking for a candidate to fill their position.
Why is it necessary to conduct a background check for new hires?
According to a study, 78 percent of candidates falsify their job applications, so employers conduct a background check to remove any uncertainty and hire the correct candidate for the job. If someone lies about how long they worked with their prior employer or what they did there, for example, it may affect your choice to hire them.
A background study can also be an important tool for safeguarding your organization, employees, and consumers. Let's imagine you're looking to hire someone to work at a hospital, but you discover they've recently been arrested for a significant drug offense. The screening may lead you to conclude that they are not the greatest fit because they will have access to controlled narcotics, putting themselves and your employees in danger.
It's worth noting that, while conducting a background check for new workers isn’t necessary in most industries, they are required in some, such as transportation, education, and healthcare, depending on where you operate.
Author Bio: This article is written by Sunaina Meena a digital marketing executive at MIMOIQ, a tech-enabled B2B organization which provides services in different industry verticals that helps teams streamline their processes.