Eighty-eight percent of companies don’t onboard new hires correctly, according to Gallup. The results of this can be damaging to an organization as effective onboarding is critical to the overall success of a company.
Do you know how to determine the efficacy of your onboarding program? A few key business metrics can help you determine if your onboarding program is fine as is or if it could use an overhaul.
Signs Your Onboarding Program Is Doing Its Job
Wondering how well your onboarding program is doing? Here are a few signs no improvements are needed:
1. Turnover is low — Different industries experience different rates of staff turnover, but all organizations see equally negative results from attrition. One of the objectives of an onboarding program is to increase employee retention. In fact, an impactful onboarding program can improve retention by about 80 percent. If staff churn is low, that’s a sign your onboarding program is in good shape.
2. Productivity is high — Did you know that high productivity is an indicator of a great onboarding program? Glassdoor indicated that effective onboarding improves productivity by over 70 percent. If productivity is low, especially among newer hires, it might be time to give your onboarding training program a makeover by implementing simple tips. For example, you might consider restructuring the onboarding process to be more focused on people than on paperwork.
3. Employees are engaged — Employee engagement is key to organizational growth, a healthy bottom line, and company culture that attracts the best talent. There are many ways to improve employee engagement, one being onboarding new hires with a people-focused program that captures their attention and makes learning the ropes at work fun. If your workers are engaged for the most part, chances are that your onboarding program is doing well.
What to Do When Your Company’s Onboarding Process Isn’t Measuring Up
If employee turnover is low, productivity is where you want it to be, and the majority of your workforce is engaged, your onboarding program gets an A+. If not, it needs an upgrade. Easy fixes for a sub-par onboarding program include:
- Clarifying company values and objectives
- Creating a survival guide for new hires
- Writing a translation dictionary for incoming employees
Learn more in 3 Onboarding Tips to Get Employees Off to a Great Start.
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