With unemployment levels at near all-time lows across many industries in Australia, finding talented and skilled workers has become a real challenge.
At this point in time, your people are your best assets. They need to hit the ground running and stay engaged so you can keep them for the long term. Having a thorough onboarding process (and sharing some meaningful onboarding gift packs) will help you with this.
Why focus on onboarding?
As reported by NAB in August, the ‘Great Rethink’ has followed last year’s so-called ‘Great Resignation’. This shift has employees reconsidering what they want from an employer – and taking time to figure out whether their job fits with their lifestyle and values.
NAB’s article quoted Gemma Corke, Associate Partner at global management consulting firm McKinsey & Company, who said the percentage of Australian private sector employees looking to leave within six months is up from 39 per cent to 45 per cent since last year.
People who want to change jobs are looking for better career development, strong compensation, a more flexible workplace and meaningful work. If you’re hiring, you can leverage this to attract good candidates and keep them for longer.
By having a thorough onboarding process, you have the opportunity to introduce new workers to your company’s vision, values and culture as well as sharing standard on-the-job training.
It is surprising to see recent statistics that say 58% of organisations have onboarding programs focused on processes and paperwork. While training people in the basics of their job is of course very important, taking the time to introduce them to the business’s bigger picture also makes a lot of sense.
If you’re not sure whether or not onboarding is worth it, consider the following:
- A negative onboarding experience doubles the chances of an employee seeking another opportunity.
- A great onboarding experience ensures 69% of employees stick with a company for three years.
- A standard onboarding process experience increases new hire retention by 50%.
- Organisations with structured onboarding saw a 60% year-over-year improvement in revenue.
In terms of how long onboarding should take, many businesses see it as a week or month-long process. However, HR leaders now recommend formal onboarding takes place over three months or even longer. This gives adequate time for someone to complete standard as well as job-specific training, get to know the company culture, learn the different digital tools being used by the company and complete their probation feeling confident and capable.
When you keep in mind that one-third of new hires who have been in their roles for six months or less are searching for a new job, it definitely makes sense to either create or extend your formal onboarding process.
Onboarding gift packs
The old saying is ‘start as you mean to continue’.
When you make someone feel welcome and appreciated from day one, they will always remember their experience. Add an onboarding gift pack when you bring on new staff and they will be smiling from their first moments as part of your team.
An onboarding gift pack can be sent to any employee — not only the people who join you in the office. Receiving an onboarding pack complete with branded or even personalised apparel and helpful bits and pieces such as branded stationery, earphones, a phone stand, charger etc can help remote staff feel more like part of the team. It will also equip them to do their job well.
According to employee onboarding statistics, implementing an onboarding program in a business can increase retention rates by 25%. Create a clear process that addresses the Great Rethink’s desires for meaningful work as well as providing practical training, and make your new team members feel special with the help of an onboarding gift pack. This will help your business to side-step the stress of constant employee turnover.
Need help preparing a meaningful onboarding gift pack for your newest team members? Contact Honeycomb today.