Benefits

THE BENEFITS OF THE ONBOARDING PROCESS

 

·        Increase personal performance by 20% (Gallup) and reduce the probability of a departure by 32% (MIT) when supervisors focus on strengths

 

·        Increase retention rates:

o   91% of new hires who were part of a formal onboarding program were still employed by the organization after one year (SHRM)

o   69% of new hires who benefited from an onboarding process were still employed after three years (Aberdeen Group, 2013)

 

·        Cost reductions:

o   Replacement costs are estimated between 100% and 300% of the employee’s salary (SHRM and HBR)

o   33% of new hires looked for a new job in the first six months (Ferrazi, HBR, “Technology Can Save Onboarding from Itself”)

o   23% of new hires do not make it to their first anniversary (Allied HR IQ and Ferrazi, HBR, “Technology Can Save Onboarding from Itself”)

 

·        Increase efficiency:

o   Reduction of 33% in the time required for people to reach their productivity threshold, from six months to four months (Byford, Watkins and Triantogiannis, HBR “Onboarding Isn’t Enough”)

o   Significant reduction of career derailing behaviours that have in common an excessive drive to demonstrate competencies to those around them (Van Buren and Safferstone, HBR, “The Quick Wins Paradox” 2009)

Copyright Camiré & Associés 2019

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