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October 2020 3 mins

3 benefits of a great onboarding experience

Although the benefits of a great onboarding experience are numerous, employee retention, productivity, and reduced employee turnover stand out. Here’s why onboarding plays such an essential role in your relocation support.

What is onboarding and why should I care?

Onboarding is a term used by HR professionals, referring to the process of introducing a newly hired employee into an organization. Onboarding is particularly important for international hires as it sets you up as an attractive employer and makes their integration easier. This allows your onboarded employee to be more productive and will improve your chances of talent retention. Worryingly…

Increasing chances of retention

No longer are onboarding and retention considered separate employment strategies for HR professionals. A great onboarding experience is synonymous with talent retention. In fact, Glassdoor research has shown that when done correctly, onboarding can improve the retention of new hires by 82%. 

  • 69% of employees are more likely to stay with a company for three years if they experienced great onboarding.

  • New employees who went through a structured onboarding program were 58% more likely to be with the organization after three years.

Reducing employee turnover

Employee turnover is a costly issue facing every employer. With many companies spending large amounts of money on attracting and retaining the right talent, it can be quite distressing to have them leave shortly after. A great onboarding experience will help you reduce your employee turnover. In fact…

  • The organizational costs of employee turnover are estimated to range between 100% and 300% of the replaced employee’s salary.

  • Nearly 33% of new hires look for a new job within their first six months on the job.

Increasing employee performance and productivity

Great onboarding programs go above and beyond to deliver positive and lasting experiences to new hires even before their first day on the job. It’s well known that great onboarding experiences directly translate into high performing and productive employees. Studies show that a strong onboarding program can boost new hire productivity by 70%. In fact... 

  • It typically takes eight months for a newly hired employee to reach full productivity.

  • In the U.S. and U.K., an estimated $37 billion is spent annually to keep unproductive employees who don’t understand their job.

  • Employees whose companies have longer onboarding programs gain full proficiency 34% faster than those in the shortest programs.

  • Manager satisfaction increases by 20% when their employees have formal onboarding training.

So, how can I ensure a consistently great onboarding experience? 

Evidently, ensuring that your company facilitates a great onboarding experience is critical. The average employee onboarding experience comes with a lot of tricky paperwork and processes. 58% of organizations say that their onboarding programs are focused purely on these processes and paperwork which on average consist of more than 54 individual administrative activities. Onboarding is a critical element of relocation support and getting these processes right from day 1 will save you countless hours and dollars.

Looking for help with your relocation or immigration cases?

We are here to help. See how in our relocation and immigration sections or directly schedule a free consultation with us.

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