Employee Onboarding is an important and vital part of any companies hiring procedure. Hiring, training, and bringing new employees on board cost a lot of money and are major investments. Onboarding is a secure investment that will assist newly hired employees in developing and keeping their skills, knowledge, and value within the company. It will stop highly skilled workers from being lured to a competitor, which makes your company stronger within the market.
Employee onboarding is essential to retaining top talent. An onboarding program does more than help orient new employees. It shapes how new employees relate to their organization. Implementing an employee onboarding program will shape the company culture while developing a highly qualified pool of talent.
Hiring new employees is expensive. Besides the recruiting costs and salary, there is a number of start-up costs associated with new hires.
Salary: This is the agreed upon pay rate.
Benefits: This includes insurance, vacation pay, legal benefits, supplemental pay, and retirement. This is roughly .02 to .04 percent of the salary.
Miscellaneous: These are the costs of training, rent, equipment, etc. This is .05 to 1.3 percent of the salary.
Onboarding can reduce the miscellaneous costs by quickly familiarizing employees with their position
The Purpose of Onboarding
The purpose of onboarding is to help new hires transition into the roles at the company. When implemented correctly, onboarding will alleviate stress as it improves the culture of an organization. Employees who start well are more likely to stay at the company long-term. This will reduce turnover and save money in hiring and training costs.
Through the Employee Onboarding course you will find it lowers costs related to employee turnover. It will increase productivity and produce a happier and more skilled workforce. The new hire phase is a critical time for the employee and company and having a structured set of procedures will make this time run smoother and produce a greater chance of success.
- Define onboarding.
- Understanding the benefits and purpose of onboarding.
- Recognize how to prepare for an onboarding program.
- Identify ways to engage and follow up with employees.
- Create expectations.
Discover the importance of resiliency and flexibility.