Employee onboarding programs improve the retention of new hires easier for business organizations. In an evidence-based study conducted by Glassdoor, it was shown that effective employee onboarding programs can improve the retention of new hires by 82%.
The same study said that an efficient employee onboarding system can increase productivity by 72%. These staggering statistics show the importance and effectiveness of having an excellent onboarding program.
But to ensure that the best results are seen from your onboarding program, it is essential to measure the efficiency of your onboarding program. This will allow you to make the necessary changes to improve the efficiency of your program. Also, this will ensure that teams don’t waste resources on program features that are not effective. Here are a few ways that you can leverage to check onboarding effectiveness. Let’s take a look at them.
Track employee happiness
One of the most effective leading indicators to gauge the effectiveness of your employee onboarding system is by hearing directly from them. This is important because employee happiness is directly proportional to the effectiveness of the program. You can facilitate the measurement of employee happiness by conducting anonymous surveys. It gives employees a safe space to share why they are unhappy helping you to improve your program.
Happy employees are important for the growth of any business organization as they are more productive and will tend to stay long-term with the company. Therefore, if you are implementing an onboarding program, this important measurement metric will help you check the efficiency
Track involuntary and voluntary turnover
The employee turnover rate of any business organization is a lagging indicator of the effectiveness of any onboarding program. The latest statistics say that the average cost of replacing an employee ranges from $3,000 to $18,000. If your company is experiencing an employee turnover rate in this range, you must look at your employee onboarding program.
The overall employee turnover includes involuntary and voluntary turnover. Involuntary turnover happens when an employee decides to leave the business organization due to reasons that are not personal. Voluntary turnover happens when an employee decides to leave an organization due to poor onboarding. So, you could keep a track of the turnover rate to make your onboarding program more effective. As teams improve their onboarding program, a decrease in employees leaving within the first year can be an outcome achieved.
Track who is leaving your organization
Another crucial step in measuring onboarding is tracking who is leaving your organization. Conduct exit interviews to leverage the employee’s feedback. For example, if a valuable employee is leaving the organization, interview them to know how their experience could’ve been better. Similarly, if a new hire is leaving your company, interview them to understand where your new employee onboarding process lacks and how you can improve it.
To ensure that your new hires stay longer with your organization and become an asset, conduct personalized training, increase their interaction with all the teams, help them develop social skills, and more.
Engaging content is one of the key pillars to a successful onboarding journey. Right from the time the offer is accepted, employees are keen to consume different types of content such as welcome emails, videos, handbooks, and other immersive content.
Yet often, certain content resonates much more with employees than others. Leveraging analytics to identify content with low engagement can present opportunities for the HR team to iterate and deliver highly engaging content.
These four metrics will act as your new employee onboarding guide allowing you to check the effectiveness of your current program. HCI reports that inconsistent application of the onboarding program is the biggest challenge faced by any organization. This will help you in overcoming these major challenges to implement effective onboarding programs.
Looking to learn more about measuring your onboarding program? get in touch with us at Squadsy. We love helping HR teams measure their onboarding to create a delightful and engaging experience. Our reporting insights will allow you to implement an effective onboarding program in your business organization. So, get in touch with our team to get early access.