Here's how to get onboarding right to avoid massive costs
Employers have 44 days to convince a new hire to stay for the long-term, according to a new report, which underscored the importance of onboarding during employment.
From over 1,500 respondents, BambooHR found that on average employees decide on whether to stay in just 44 days, a little over a month after getting employed.
According to the survey, 70% of new hires decide if they'll stay for the long term within a month. This includes those who decide:
Another 25% said they decide after two months, while five per cent said they decide after a year.
Anita Grantham, Head of HR at BambooHR, described these 44 days as "critical" in creating new hire confidence.
"Those critical first 44 days need to create new hire confidence by continuing to advocate for the company's mission and values, the importance of the role they fill, and the plans for growth and success a new employee can anticipate," Grantham said in a statement.
Meanwhile, 79% of 500 HR professionals surveyed also said they can determine if they're in the right role within the first month.
On average, they decide if the role is right within 33 days.
This shows that HR professionals are "even more decisive" than average employees, according to the report.
According to the report, employers should learn how to strike a balance between helping new hires ease into their roles without dragging it for too long.
More than half of the respondents said (56%) they just need a day or two to ease into their new role, while 30% said they prefer a slower, more gradual onboarding process.
Nearly all said they want onboarding to introduce the employee guidelines (97%) and the company's mission statement and values (96%).
Employers should also be aware of employees' biggest concerns during onboarding such as:
Majority of new hires (93%) also want to shadow a colleague during the early days of their job, as they seek establishing workplace relationships as early as the onboarding process.
In fact, 87% are hoping to make a friend at work, while 86% appreciate support from an onboarding buddy.
BambooHR, however, warned that it is important to let these connections grow naturally.
"Two in five (43%) agree that structured attempts to force friendships fall flat," the report said.
Not being able to provide a good first impression to staff could lead to consequences for an organisation, according to the report.
In fact, 44% of employees said they regret or had second thoughts about accepting a job offer within the first week. Nearly a quarter even confessed to crying within their first week because the role was "so disappointing."
The report warned that the lack of an effective onboarding process could put to waste thousands of money spent on recruiting, hiring, and onboarding new hires.
"These findings show that recruiting top talent doesn't end with an offer letter. Smart organisations know that onboarding is actually 'hiring phase two' and is much more than a welcome email and a tech checklist," Grantham said.
