FACTS

1. New employees want a buddy or mentor. Pairing a tenured co-worker with a new hire can make employee onboarding much easier.
2. Onboarding programs can increases retention and improves employee performance. Give employees the tools they need from the beginning to ensure their success. If they have what they need to flourish, they’ll be less likely to leave the organization because they feel proficient in their roles.
3. Employees who participate in a structured onboarding program are more likely to stay with an organization for 3 years. It costs a significant amount of money to replace and retrain employees. Because proper new hire onboarding entices employees to stay longer than the average, that’s cause enough to develop a robust system that fits the company culture.
4. Global executives say their onboarding was poor. Those in charge of the company – who were sourced from without the organization – don’t have the tools to lead the organization. Begin your employee onboarding revamp from the top down; if your leaders know how onboarding should run, it will trickle down to the lower ranks of the organization.
5. It takes 8 to 12 months for new hires to be as proficient as their tenured colleagues. This is proof that onboarding simply cannot be done in one day, or even a few days. The first year of a new hire’s tenure within the organization is dedicated to developing their skills proficiency.

STATS

1. 69% of employees are more likely to stay with a company for three years if they experienced great onboarding.
2. Up to 20% of employee turnover happens in the first 45 days.
3. Organizations with a standard onboarding process experience 50% greater new hire retention.
4. The average cost of replacing an employee is nearly $4,000.
5. Nearly 33% of new hires look for a new job within their first six months on the job.
6. It typically takes eight months for a newly hired employee to reach full productivity.
7. Only 37% of companies extend their onboarding programs beyond the first month.
8. 35% of companies have no formal onboarding program.
9. Organizations with a standard onboarding process experience 50% greater new hire productivity (source).
10. Manager satisfaction increases by 20% when their employees have formal onboarding training (source).