Why Onboarding Your New Employees Is Essential To Retaining Talent

We have all experienced onboarding in our professional lives; whether that’s being onboarded ourselves or onboarding someone else. Nonetheless, we can all agree how important effective onboarding is to not only our integration into the workplace but our experience within the business overall.

In a recent study  conducted by the business management platform MYOB, an overwhelming 90% of workers emphasised the importance of a positive employee experience when deciding on a new job. This finding becomes even more urgent as 3 in 5 (64%) small and medium-sized enterprises (SME) plan to hire new talent within the next six months. Making it vital for companies to prioritise creating a supportive and engaging work environment to attract and retain top talent.

Onboarding is an essential process that provides new employees with an introduction to their role, the company’s values, and its offerings. Not only does it help employees feel like valued members of the team, but it also fosters a sense of commitment to the company’s success. An effective onboarding program can result in higher retention rates, increased productivity, and a happier workforce.

However, the significance of onboarding extends beyond business benefits. MYOB’s research revealed a staggering 71% of Australians would be deterred from staying with a company if they had a negative onboarding experience. This highlights the critical importance of investing time and resources in creating a positive onboarding process that sets employees up for long-term success.

The survey was conducted on 1,000 employees of small to medium-sized enterprises (SMEs) and showed that a shocking 79% of them believed that the onboarding experience can either make or break a new hire’s experience with the company. Although 44% of respondents felt that their employer put considerable effort into onboarding, they also believed that further improvements could be made.

So, what does it take to provide a top-tier onboarding experience? With the importance of onboarding becoming increasingly apparent, companies must prioritise creating a welcoming environment for new hires, providing adequate training and support, and helping them integrate seamlessly into the company’s culture. By doing so, businesses can create a positive onboarding experience that sets new hires up for long-term success and engagement with the company.

While many companies consider onboarding as a one-week checklist process, the most innovative organisations understand that building an effective onboarding program is an iterative and ongoing process. Extending the program beyond the first month is crucial in establishing a strong employee experience that lasts throughout their entire tenure, from hire to retirement.

Understanding what employees value most is vital for businesses seeking to improve their overall experience. In a recent survey, employees were asked to identify areas where their current employer could focus more to enhance their experience. The results indicated that benefits (40%), learning and training opportunities (38%), physical work environment (30%), and onboarding experience (27%) were the top areas for improvement.

It’s clear that employees value a comprehensive benefits package that can support their well-being and financial stability. They want to work for companies that invest in their professional development, providing learning and training opportunities to advance their skills. Creating a physical work environment that is comfortable, safe, and promotes productivity is another key aspect that can enhance employees’ experience.

Helen Lea, the Chief Employee Experience Officer at MYOB, is a firm believer in the power of onboarding. According to Lea, “Investing time to plan your onboarding program can have a positive ripple effect on the business, and putting new employees first makes them feel like they made the right choice by joining the team. Remember onboarding isn’t a race, it’s a journey, so pace and spread out the information over time.”

Starting off on the right foot with new employees is crucial to building a strong, cohesive team. And the onboarding process plays a vital role in setting the tone for that relationship. But it’s not just about the first day or week of the job. It’s about creating a supportive and welcoming environment from the moment the offer is accepted.

Imagine receiving a warm welcome call from your future manager, or a friendly message from your soon-to-be colleagues on LinkedIn. That kind of personal touch can make all the difference in easing any pre-job jitters and setting a positive tone for the rest of the onboarding experience.

Once the new employee begins their job, it’s important to immerse them in the company culture right away. That means introducing them to the company’s vision, mission, and core values, so they can see how their work aligns with the bigger picture.

It’s also important to ensure that the new employee has introductory meetings with key people such as IT, HR, and colleagues other than their manager. This helps create a network for them to ask questions without any hesitation.

Developing a strong onboarding process can lead to higher retention and productivity whilst reinforcing the message that the company is invested in its employees’ success and helps build a positive employer brand.

Onboarding is an essential process that plays a crucial role in shaping the employee experience and retention rates. As businesses compete for top talent in today’s market, creating a positive onboarding experience becomes more critical than ever. By investing time and resources into developing an engaging onboarding process, businesses can foster a sense of commitment, enhance productivity, and create a happier and more loyal workforce.

In today’s competitive job market, it’s more important than ever to stand out as an employer. By prioritising a positive onboarding experience, you can attract and retain top talent while creating a supportive work environment. For more tips on how to navigate the labour shortage and enhance your employer brand, visit our website for expert advice and insights.