Failure to formalize an onboarding process for your organization can spell disaster. Surprisingly, however, not all companies have a formal onboarding plan in place. With so much riding on the success of each new hire, it is easy to see that effective onboarding is mission critical. That’s why it’s vital that all organizations hold on to their people, and they can start by providing a well-designed onboarding process to educate new employees about their place within the larger culture.” At every departure, morale and productivity suffer. And, for mid and senior-level employees it can reach 150 to 400 percent respectively. LinkedIn’s “ Why Is Onboarding So Important” offers some compelling statistics that illustrate why effective employee onboarding should be a priority for your organization, noting: “The cost of replacing an entry-level employee is 30-50 percent of the person’s annual salary. Employee retention saves your organization time and money in both the short- and long-term.Įmployee turnover, on the other hand, wreaks havoc on your firm. Engagement and satisfaction lead to increased employee retention. Why should you care? Individual employee success is largely a result of employee engagement and satisfaction. An effective employee onboarding process is a key to success for your organization’s new hires.
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