Google, LinkedIn and Twitter have been innovators in each of their fields. Each has taken the tech community by storm, carving out a market niche and a place in popular consciousness. Each of these organizations is now a household word and can teach us many things about business growth. However, it’s their employee onboarding that companies should really be paying attention to.
Onboarding and Retention
Onboarding, or the systematized process of acclimating new employees to a company, is much more important than you may realize. The Society for Human Resource Management (SHRM) says that retention processes should actually last a minimum of one year to positively impact employee retention. Why is this important? The studies show that 17 percent of all new employees leave their jobs in the first three months. Even worse, after investing in new hires, employers lose one-quarter of all new employees in the first year.
The same studies also suggest that onboarding has a crucial impact on employee retention. Harvard Business Review polled global executives and found 32 percent say their onboarding experience was poor. Considering the fact that replacing executives is particularly expensive, costing employers up to 200 percent of their annual salary, this is a huge bottom line hit.
But some companies have actually gotten onboarding right; Google, LinkedIn and Twitter are three of them. Here are some examples of best practices these companies apply that could ultimately have a positive effect on your company:
- Google turns employee onboarding into a team event by breaking down onboarding tasks within members of their own departments. This allows each department to stamp culture into every part of the employee welcome. It’s an important way of ensuring the new hire fits within teams, and highly effective for employee retention.
- LinkedIn gives new hires a 12-week “New Hire Roadmap” that charts their course toward acclimation. The document gives each employee everything they need to complete the journey, but the employees must execute onboarding themselves. LinkedIn says this helps build an ownership culture.
- Twitter’s onboarding process includes 75 carefully choreographed steps for the new hire that start well before the candidate comes on board. The goal (is to never have) a candidate show up and end up waiting for a laptop or login credentials Reword sentence structure).
These three companies have clearly taken employee onboarding to the next level. With 20 percent of all new employees quitting in the first 45 days, employers must do more to ensure the transition to a fully functioning and engaged workforce.
Google, LinkedIn and Twitter illustrate that a fully mapped new hire process should engage both new employees and the departments they work in even before the candidate arrives on-site. 69 percent of employees are more likely to stay with a company for three years if they had a positive onboarding experience.
Ready to Revamp Your Onboarding Process? Contact NueVista!
With today’s shortfall of IT talent, onboarding becomes an even more crucially important retention tool. Talk with the team at NueVista about how you can still find the best tech teams even in a low unemployment market – and what you can do to retain them. Contact our team of experts today!