Millions of workers are continuing to quit their jobs this year, forcing employers to ramp up their search for new talent — but their recruitment and retention challenges do not stop once they’ve found a match.
According to research and analyst firm Brandon Hall Group, organizations with a strong onboarding process improve new hire retention by 82% and productivity by over 70%. Yet, a Gallup survey found that as few as 12% of employees agree that their organization successfully onboarded new hires. A poor onboarding process leaves employers at risk for a high turnover rate, and the high costs that come with it; Society for Human Resource Management estimates it costs six to nine months’ worth of the replaced employee’s annual salary to get a new hire up to speed.
