Did you know the cost of replacing an entry-level employee varies from 30-50 percent of the person’s annual salary? This is why it is vital for businesses to provide dependable support to new employees with a well-structured onboarding program. Onboarding is a detailed process in which new employees not only get to know about their specific job tasks and work expectations, but also get the opportunity to explore the culture of the organization.
Research has revealed that a structured onboarding program increases the chances of new employees staying longer with an organization by 58%. However, if you are still wondering how onboarding can contribute to the success of your organization, go through the factors given below-
Higher job satisfaction
When employees understand the organization’s culture and their role in its growth, they are more likely to feel comfortable and successful while fulfilling their responsibilities. Their feeling of self-efficacy usually results in increased job satisfaction.
It is obvious for new employees to feel anxious, as they are assessing things to see whether they have made the right call or not. However, through onboarding, you can reduce their stress and anxiety by making them know what they exactly need to know. Onboarding takes the guesswork out of the equation and helps them concentrate on their work only.
Onboarding process not only keeps employees interconnected but also increases job satisfaction and reduces stress to eventually evolve as a talent magnet brand. It helps employers to attract and retain top talent. According to a research, comprehensive onboarding process help businesses enhance new hire retention by over 80 percent.
Enhanced job performance
One of the main reasons behind onboarding is to provide new hire role clarity, as it plays a crucial role in their overall performance and growth. Employees that understand their job well are likely to perform well than those who have ambiguities about their job responsibilities. Studies reveal that proper onboarding can increase the productivity of new employees by 70%.