Posted on 11th May, 2021
On-boarding is a prime opportunity for employers to win the hearts and minds of new employees.
Often, when we talk of the process of integrating a new employee into an organization, the terms onboarding and orientation are used interchangeably. However, they are not the same thing. A new hire orientation is simply a single event, while onboarding is a process. The term onboarding refers to the entire, longitudinal process used to assimilate new employees into your organization - beginning right from the time an offer is accepted, lasting till up to the end of the first year of employment.
This process can be likened to a strategic plan, beginning with mapping out critical touchpoints, where a strategy is mapped to induct an employee into the organization in such a way to encourage him or her to contribute to the best of their ability.
It would be wrong to say that employee onboarding services only benefit the candidates. These services also help organizations as candidates can grasp business easily, making them a part of the team soon after joining.
How employers handle the first few days and months of a new employee's experience is crucial to any company, with a study by Glassdoor finding that great employee onboarding, can improve employee retention by 82% and increase productivity by over 70%. Having an effective onboarding process in place thus, will help your new hires feel more valued, understand their role better, and increase their productivity and performance, resulting in increased engagement.
Onboarding procedures, if planned and executed properly, also include training for employees. This training gives people the knowledge they need to excel at their jobs. During the process, the new hires are also introduced to the mission and culture of the company, helping them align with these values.
Statistics compiled by Click Boarding, an onboarding software company, show the following:
69 percent of employees are more likely to stay with a company for three years if they experienced great onboarding.
New employees who went through a structured onboarding program were 58 percent more likely to be with the organization after three years.
Organizations with a standard onboarding process experience 50 percent greater new-hire productivity.
Furthermore, if a company loses an employee within the first year, the cost to company is at least 3 times the salary.
At Gennext Strategy Advisors we provide outsourced HR services to small to mid-sized businesses, so that you can focus on what your company does best, and we help you meet your HR need through our expertise.
Our services help businesses like yours keep HR costs contained, reduce employer-related risks, and decrease the administrative burden of HR. With any small business, it’s the little things that really matter; and we at GSA we can support you through your journey, with high quality outsourcing of your HR processes. This will not only offer you expert HR services at a fraction of the cost of maintaining an HR team, but will also allow you to concentrate on building or running your business safe in the knowledge you have experts on hand to guide you through the minefield of the latest legislative requirements and best practices.
In case of Employee On-boarding and Induction, outsourcing your processes to GSA can be especially beneficial to your company as we take care of designing your entire onboarding process – online, offline or a combination thereof – right from pre- and post-communication and planning, to ensuring regulatory compliance in this process. In doing so, our team of experts shall ensure that the process is seamless and customizable to various stakeholders in your company, designing the process in such a way so as to maximize its effectiveness, and help employees reach their potential at the earliest.