Roughly one in five new employees leave their organization within their first year, compared to less than one in 10 for all employees, finds PwC Saratoga’s 2013/2014 US Human Capital Effectiveness Report. Since the cost of turnover per employee is 1.5 times the average compensation, employers should pay close attention to improving their onboarding process and how they work to assimilate and engage employees before their start date and throughout their tenure.
Orienting new hires into the company’s culture and their new role starts before they even step in the office and should go beyond filling out HR paperwork on the first day. Employers should assimilate workers by setting upfront expectations for the position without overwhelming the new employee, introducing them to colleagues and managers in their area, and previewing their long-term career development with the company.
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