In today’s fast-paced business landscape, employee retention is a top priority, and a well-structured onboarding and people analytics process is a powerful tool to achieve this goal. “According to a Deloitte study, companies with a well-structured onboarding process increased new hire retention by 82% and productivity by more than 70%,” said global workforce specialist Talent500 in their 11 Ways to Optimize Your Onboarding Process article. “Optimizing the onboarding process can help organizations save time and resources while ensuring that new hires become productive team members as soon as possible.”
In this blog post, we’ll explore the crucial role of onboarding and people analytics in driving employee retention and how these strategies can create upleveled workforces.
The need for turbocharged onboarding
So, nothing you, superstar, don’t already know. An effective onboarding process sets the tone for new hires, helping them become productive team members quickly. Speed, productivity, and insights through people analytics can transform your onboarding process into a powerhouse of employee engagement and retention.
The faster bit is non-negotiable for baking in new hire engagement. Delivering on the vision set during the recruitment process is imperative. New employees want to hit the ground running and know what’s expected of them. What’s more, it directly interlinks with productivity. Speed + productivity = a double whammy of:
- Improved value for employer
- Connectedness for employee
Mix them together for improved employee retention in the long run. Which hey, you can measure, benchmark and evolve with people analytics… your newfound secret weapon for identifying winning formulas. And once you’ve pinned them down, you’re going to want to keep on doing more of the same and even better. Let’s take a closer look at the power of combined onboarding and a people analytics solution.
Working smarter and faster
Efficient onboarding processes reduces the time it takes for new hires to contribute effectively. In addition, it also sets the stage for seamless integration into your organization’s culture and values. This, in turn, fosters a sense of belonging from day one. Here are key components to consider:
- Welcome Emails: Send branded, personalized welcome messages to new hires making them feel part of the team before they join officially.
- Pre-Start Onboarding Schedule: Provide new hires with a pre-populated schedule of key events, orientation sessions, meetings, and check-ins. This prepares them to hit the ground running from day one.
- Company and Practical Information: Share essential company documentation and valuable tips about the workplace culture. Things such as local amenities, information about drinks machines, traffic, and transport in the area. It’s an effective way of drawing them in to your world and helping new hires acclimate faster.
- Early Training Modules: Offer pre-start training on products, processes, and tool, enabling new hires to familiarize themselves with your business even before they start. Plus, you can continuously update your content library of external and in-house trainings.
But how does speed translate to productivity and employee retention? Well, imagine this scenario: A new team member joins your organization. Within a week, they’re already handling projects independently, contributing fresh ideas, and making a positive impact. That feels good to them and to you.
Retaining the new hire glow
An exceptional onboarding process not only boosts productivity but also enhances employee engagement. When new employees feel supported and welcomed, they develop a sense of loyalty and commitment to the organization. Creating a nurturing environment that fosters connectedness and positive relationships contributes to long-term retention.
The value of employee retention
An effective onboarding process plays a vital role in the long-term success of employee retention. Empowering new hires to adapt quickly and excel in their roles reduces the risk of them feeling overwhelmed or undervalued. Engaged and motivated employees are more likely to remain committed to the organization in the long run.
Measuring success: onboarding and people analytics
To measure the impact of your onboarding process, cue data-driven insights! A leading people analytics solution consolidates data from various sources, providing unparalleled visibility into your onboarding processes. These insights enable you to make data-backed decisions and improve your onboarding strategies. You may discover insights for more than just onboarding processes. Think about what you can learn about employee tenure, promotions, helps set business KPIs and more.
Conclusion
You have the opportunity to create a compelling onboarding process that benefits both employers and employees. Engaged and supported employees lead to higher retention rates, driving overall business success. By embracing turbocharged onboarding practices and leveraging people analytics, you can optimize your onboarding process and create upleveled workforces that thrive in the modern business landscape. So, why wait? Start transforming your organization’s onboarding process today!
At HireRoad, we provide businesses with powerful onboarding and insights solutions that harness the power of speed, and productivity. They also transform the way you attract and retain top talent. Consequently, you’re battle ready to navigate the ever-changing employment marketplace with multiplied confidence and success!
Intrigued about the transformational impact PeopleInsight by HireRoad can have on your onboarding process? Get in touch for a free demo, whether you’re interested in looking at PeopleInsight by HireRoad on a standalone basis, or in tandem with Onboard by HireRoad.