by The Overture Group
The Overture Group is an IMA member search and compensation consulting firm…
When you have the right new hire you want to ensure that their employment is a marathon rather than a sprint. In marathons, as with new hires, the start line is exciting and the crowds will be there to cheer you on, but it is the aid stations or check points along the way that are vital to the success of the race! Setting up onboarding plans creates structured opportunities to provide aid and maximize the company’s investment.
Ten years ago the term ‘Onboarding‘ was not even a common corporate expression. The term is now gaining acceptance by both employees and HR representatives as the process that extends beyond the orientation and training employees receive at the start line. However, the majority of organizations are not capitalizing on it. In fact, only 37% of employers extend onboarding plans one month and only 15% continue it further than six months. Onboarding Plans should be finalized with the new person within the first 30 days and then used as a guide and check-in document at 60, 90, 180 days and 1 Year.
The goal of each check-in is different depending on your company and the employee’s role, but the basic elements include:
- Ensuring the new employee is getting acclimated to their new role
- Ensuring the new employee has the resources they need
- Identifying any implementing process improvement
- Reviewing progress
Implementing the onboarding plan will yield what every company is searching for: a lower turnover rate and increased productivity. Employees that go through structured onboarding plans are 58% more likely to remain with an organization more than 3 years (Forbes). Your company will also benefit from decreasing the time it takes for the employee to become productive. In addition, their outside perspective may help get you a fresh look at new ways to increase the overall productivity of your organization.
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