It’s no secret that a good onboarding experience is key to retaining employees. In fact, onboarding statistics reveal that a good onboarding experience gives you a chance to work with an employee that is both committed and engaged with the company.
Unfortunately, many companies still don’t put enough emphasis on onboarding, and as a result, they’re losing out on the benefits of having a good onboarding program.
If you’re looking to improve your company’s retention rates, take a look at these eye-opening onboarding statistics to help you understand the experiences of employers and employees during onboarding.
STATISTICS ABOUT EMPLOYEE ONBOARDING MISTAKES
- 88% of organizations don’t have an efficient onboarding program. (Sapling HR)
- Only 45% of businesses measure the effectiveness of their onboarding programs. (Finances Online)
- One-third of the 1,000 survey respondents said they had quit a job within six months of starting it. (Zippia)
- 10% of companies have not done anything to improve their employee onboarding process in recent years despite known flaws. (Finances Online)
- After starting their new job, 43% of employees are without essential job equipment for more than a week. (Talentech)
- 50% of new employees who failed to meet their performance goals did not have a formal onboarding process. (SHRM)
STATISTICS ABOUT SUCCESSFUL EMPLOYEE ONBOARDING PROGRAM
- A majority of organizations who invested in onboarding saw increases in revenue last fiscal year, with 78% reporting such growth. (Zippia)
- 92% of recruits feel productive and valued within their first month on the job due to effective onboarding practices. (RecogNation)
- Organizations that provide formal onboarding training are less likely to lose more than 60% of their workforce within four years. (TMF Group)
- Employees who engage in extensive onboarding programs achieve full competence 34 times faster than their colleagues who do not partake in such programs. (Atrivity)
- The best employee onboarding programs extend throughout the first 90 days to ensure that new hires are fully supported. These programs may even extend to one year to continue assisting new employees as they adjust to their new role. (LinkedIn)
STATISTICS ABOUT EMPLOYEE ONBOARDING RETENTION
- Organizations with an excellent onboarding process see a 52% increase in new hire retention rates. (Clear Company)
- A positive employee onboarding experience is essential for retention, with 82% of employees remaining at a company after a positive experience. (Sapling HR)
- The first 45 days of employment are crucial for new employees, with up to 20% of worker turnover happening within this period. (SHRM)
- As many as 37% of employers cite a lack of work-life balance as one of the primary reasons employees leave their company. Accordingly, new hires should receive proper onboarding with respect to healthy work practices to help promote retention. (The Manifest)
- Employees who participate in a structured onboarding program are 69% more likely to remain with an organization for three years or longer. (Click Boarding)
STATISTICS ABOUT EMPLOYEE ONBOARDING AUTOMATION
- Investing in automation for onboarding tasks can result in an 18% improvement in initial performance for new employees. (UserGuiding)
- Lack of technology caused 36% of HR professionals to have difficulty in automating and organizing their onboarding process. (UserGuiding)
- Onboarding automation has been shown to lead to a 16% lower employee turnover rate on average. (UrbanBound)
- By automating their document management, companies can save an average of $20 per paper on filing, $120 spent on looking for lost documents, and $220 spent on recreating lost documents. Additionally, document automation is better for the environment. (eFileCabinet)
CONCLUSION
When it comes to employee onboarding, organizations need to ensure they are creating an experience that will boost productivity, engagement, retention, and revenue. Creating an effective onboarding program takes careful planning and execution.
There are a few key elements that are essential for any great onboarding program. Some of the most important elements of an effective onboarding program include: a clear and concise onboarding plan, a dedicated onboarding team, a focus on the first 90 days, a focus on culture, and a focus on tools and development.
By taking the time to onboard new employees properly, companies can see a return on their investment in the form of a more engaged and productive workforce.