Although most of the rhetoric around the Great Resignation is centered on American workers in office jobs, labor shortages are growing around the globe in a wide range of sectors and types of roles. Latin America, Eastern Europe, and Asia are also in the midst of labor market turbulence, relating to both so-called “skilled” and “unskilled” labor. As the world’s labor market continues to shift, the companies that retain key talent and invest in their workforces will be the ones who invest in employee onboarding.
Onboarding Can Make or Break a New Hire’s Experience
Implementing a formal program could boost retention by up to 50%.
April 05, 2022
Summary.
Poor onboarding can leave your employees with lower confidence in their new roles, worsened levels of engagement, and an increased risk of jumping ship when they see a new, more exciting position elsewhere. On the other hand, companies that implement a formal onboarding program could see 50% greater employee retention among new recruits and 62% greater productivity within the same group. Given that how you onboard your employees will determine their experience, managers can take the following steps to ensure they set their new hires up for success: 1) set clear goals and measures for success, 2) create a multi-departmental onboarding team, and 3) provide support throughout the onboarding journey.
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New!
HBR Learning
Developing Employees Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Developing Employees. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Support and challenge your direct reports to help them reach their potential.