Only 12% of employees agree that their organization does a great job of onboarding new employees.
During the past decade, organizations have used onboarding programs with the hopes of seamlessly integrating a new employee, all while attempting to improve retention, engagement, and their overall employee experience. Sadly, most companies are completely failing at implementing a successful onboarding program.
According to a survey recently completed by Gallup, only 12% of employees agree that their organization does a great job of onboarding new employees. The consequences of this are detrimental – significant turnover within the first year of employment and low engagement among employees who stay.
Why it’s important
A broken onboarding process not only loses exceptional talent, it loses your organization money. According to the Society for Human Resource Management (SHRM), employee turnover can be as high as 50% in the first four months for hourly workers, and 50% in the first 18 months for senior outside hires.
The cost of recruiting, hiring, and training are exceptionally high. Conservative estimates indicate that it will cost a company one-half to two times an employee’s annual salary to find and onboard a replacement.
The average cost of turnover for a bedside RN is estimated at $49,500, but costs can range from $38,000 to $61,000 depending on hospital and location. And some reports estimate that replacing a physician is at least $200,000, but can reach as high as $1 million per exiting doctor (Businessdailypay.com).
In a competitive talent marketplace, a broken onboarding process causes you a lot of wasted time and wasted money. It’s time to make employee onboarding a priority in your organization.
How we Can Help
We take the time to get to know our partners, so that we can effectively unite their onboarding objectives with creative solutions.
EMPLOYEE ENGAGEMENT APPS
HWNY’s technology development team can design and develop a mobile accessible app that connects you to your employees providing essential information and emphasizes their shared purpose, fostering real feelings of community and engagement.
TRAINING & DEVELOPMENT
From Compliance 101 to Advanced Leadership Development, HWNY possesses in-house expertise to design, develop, and deliver tailored online and in-person trainings.
Need assistance with onboarding?
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