Onboarding can be defined as the process of helping new hires adjust to social and performance aspects of their new jobs quickly and smoothly, and learn the attitudes, knowledge, skills, and behaviors required to function effectively within an organization.But we don't think that's enough.
Here at Talentech, we believe in taking things one step further with what we like to call Good Onboarding.
Onboarding: The Talentech definition
Onboarding spans the entire new hire process. From accepting the job offer and arriving into the office (preboarding), through their early days and weeks on the job (induction and orientation), until they are fully at home in their new position (integration).
The best onboarding journeys run longer than the 1-month standard and recognize that more than 20% of new hires leave a new job within the first 60 days on the job.
Done well, onboarding should deliver a streamlined experience that saves time for HR, boosts your organization's employer brand, and empowers your new hires.
Onboarding has 4 key components that are commonly referred to as the 4 C’s:
Is your new hire legally ready to represent your company?
Does your new hire fully understand the job and what is expected of them?
Will your new hire feel like a part of the family when they arrive at the office?
Can your new hire navigate the spoken AND unspoken aspects of your company culture?
What can good onboarding help you achieve?
We’re glad you asked!
Onboarding impacts many areas of the HR ecosystem, but none more so than Retention, Engagement, and Time-to-productivity.
Onboarding has been shown to increase new hire retention by up to 82%
Organizations with low rates of employee retention safeguard the more than €4000 investment it takes to bring on new employees - great news for any budget-conscious HR department!
Onboarding has been shown to increase new hire engagement by up to 33%
Organizations with high employee engagement observe happier employees who perform better and give more to the business. They’re also 21% more profitable than those with low rates of engagement.
Onboarding has been shown to shorten new hire time-to-productivity by up to 70%
Organizations with shorter proficiency learning curves minimize the financial impact of lost productivity on their bottom line by up to 2.5%.
Convinced? Ready to start building an impactful first week for your new hires?
Try the Talentech 10-step onboarding guide to a perfect first week!