What is it worth for your organization to have well-trained, productive employees who love their jobs, stay longer in their jobs and guide future employees more often?
The answer is: a lot!
The on-boarding process leads new employees from day one to work productivity. The process involves learning the knowledge, skills and behaviors required for the role and putting them into action. During the training for new people you teach new employees how to become productive team members and they start to invest emotionally in their jobs, the company and their colleagues.
Decreased employee turnover
Replacing an employee costs up to 60 percent of his or her annual salary, while the total costs of converting a job can be 90 to 200 percent of the annual salary. A well-planned onboarding program is also considered a major retention strategy, 69% of employees are more likely to stay with a company for at least three years.
Higher speed to competence
The longer a vacancy is open, or the longer a new employee is not productive, the more money goes out. New recruitments in companies with longer on-boarding programs report that they have better mastery of their skills four months earlier than in companies with short on-boarding programs.
Four months of extra productivity per new acquisition adds up! A longer, more extensive on-boarding program includes various modalities that help with information retention.
Committed employees and culture!
What is the most important factor that improves employee engagement? Culture, culture, culture. Employee engagement is the gateway to more retention, job satisfaction and higher productivity. These factors mix and lead to success.
By including your unique culture in on-boarding training, you help new employees absorb that culture and make it productive. This comprehensive approach is the key difference between standard training and training created specifically for your organization and its crucial roles. Custom training offers an efficient solution that appeals to employees while increasing the speed to competence.
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Well-boarded new employees become a new type of employees who are involved, competent and self-assured. They form leading layers in the team. Well-trained, more committed employees have a positive influence on the organization: you cannot build a team if employees are not self-confident and competent. But when they are, they are unstoppable.
The better someone has come on board, the greater the chance that he will be an advocate of the organization that advocates and disseminates value. It is an elusive part of the organizational circle: emotional connection, involvement and inspiration to improve soft skills that make people excited to come to work every day.
Now you know what is at stake.
Ask yourself the following questions: Are you satisfied with your current onboarding program, or are you ready to take it to a higher level to increase employee retention, productivity and commitment?
Intertrade-People can support you in improving your onboarding.