Roughly one in four new employees leave their organization within their first year of tenure, according to a recent report from PwC Saratoga. 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 assimilate and engage employees even before their start date.
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. "A lot of what onboarding is about is easing the employee into the organization, setting accurate expectations before they even start," says Sunita Navile, a director of onboarding solutions at Kenexa, an IBM company. "Unmet expectations for new hires are the No. 1 reason they quit early on. It's buyer's remorse."
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