Onboarding can help boost employee engagement, retention rates, new hire productivity, and the company’s bottom line. You’ve heard the buzz, you know how important it is, but how do you convince your company that you need to formalize or reexamine your process? Here are 21 stats that highlight just how amazing new employee onboarding really is!
- Companies with an engaging onboarding program retained 91% of their first-year workers. (Source)
- Only 33% of employees in the US are engaged at work (Source). Onboarding can help align expectations and boost engagement with your workforce.
- 60% of managers who fail to onboard successfully cite failure to establish effective working relationships as a primary reason. (Source)
- Only 24% of workers feel connected to their peers. (Source) Onboarding done correctly can help with this by introducing employees to new team members, assigning mentors, and more.
- New employees are more likely to know and understand their organization’s culture and values when they spent time with a mentor. (Source)
- Organizations with structured or formalized onboarding programs can see a 60% year-over-year improvement in revenue. (Source)
- Organizations with structured or formalized onboarding programs see a 63% year-over-year improvement in customer satisfaction. (Source)
- 49% of millennials want better onboarding. (Source)
- Onboarding programs can improve employee performance by 11.5%. (Source)
- 76% of organizations extended their employee onboarding programs to last longer than one month (Source.) The reason being, longer onboarding programs show better results.
- Over 25% of the U.S. experiences a career transition each year (Source.) Onboarding isn’t just for new employees anymore. Employees who are changing roles, departments and locations want guidance too!
- 30% of organizations have Passive Onboarding- forms and maybe some role clarification, but no information on culture or push for connections. (Source)
- 50% of organizations have High Potential Onboarding- forms and role clarification with a little culture info and a focus on connections. (Source)
- 20% of organizations have Proactive Onboarding- forms and role clarification with a focus on culture and making connections. (Source)
- 68% of Proactive Onboarding organizations have online onboarding systems. (Source)
- 66% of organizations assess their onboarding programs at least once a year. (Source)
- Onboarding will be a top initiative for businesses in 2017, second to recruiting. (Source)
TURNOVER AND RETENTION
- Half of all senior-level outside hires fail within 18 months. (Source)
- Half of all hourly employees leave new jobs in the first 120 days. (Source)
- 90% of employees decide whether they’ll stay with an organization, or leave, in the first six months. (Source)
- New employees who went through a structured onboarding program were 58% more likely to be with the organization after three years. (Source)
Onboarding begins the moment an employee signs the offer and ends once they’ve left the organization. Make it a great, consistent experience, and your employees will be more engaged, perform at a higher rate, and stay longer. We can help. Talk to one of our onboarding experts today!