Improve Employee Retention and Productivity with One Investment
Posted on in Retention Strategy
The recruiting process is one that takes a considerable investment of time and resources for many in your company. Once the candidate signs on the dotted line, most companies believe that the engagement process has come to an end. Unfortunately, many don’t realize it’s just beginning.
Retaining your employees begins the moment they accept the position with your company. Hopefully, you’ve provided your new employee with a great candidate experience and it’s critical their onboarding experience is equally exceptional.
The most effective onboarding programs begin the moment someone accepts and continue throughout the employee’s first year, as onboarding should be approached as a series of experiences, not a one time event. Research by Urbanbound supports our methodology, as they’ve found companies with formalized onboarding enjoy 50% higher retention as well as a 54% increase in new hire productivity. That’s a pretty strong business case.
Over the next few weeks, we are going to share our perspective on what onboarding is, discuss what the essential components of a great onboarding program are, and provide a tip sheet that enables you to build a program that makes sense for your organization. Stay tuned for more discussion on Pillar #5 of the talent continuum: Onboard.
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