Note: This is a guest post from Complí, a Hireology partner that manages HR and compliance initiatives across the entire workforce.
There’s a secret to standing out in today’s employee-centric job market, and it isn’t in your brand book. Or your benefits package. Or your kegerator.
It’s in your onboarding program. No period in the employment lifecycle is more important than an employee’s first 90 days on the job. We’ve explored the myriad reasons why, from financial savings to improved oversight and compliance outcomes. Here’s a list of the top 8 reasons employers should optimize their onboarding programs.
1. Onboarding Can Reduce Turnover (and Turnover Costs)
Turnover is expensive. How expensive? SHRM estimates that the total cost associated with replacing an employee ranges between 100–300% of the individual’s salary. We’re not just talking about taking out ads or paying recruiters. When a worker quits, other employees need to pick up the slack, draining the organization of time, energy, and resources. Companies that invest in effective onboarding procedures save money by retaining 50% new hires than they would otherwise.
2. Standardized Onboarding Is a Competitive Edge
Fewer vacant jobs also mean higher rates of productivity. When members of your workforce aren’t