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Onboarding Presented by: Eric Alexander, Quintin Banks, Ikechi Dixon & Lauren Papotto. Powerpoint Templates. Introduction to Onboarding. What is Onboarding ? ”the process of helping new hires adjust to social and performance aspects of their new jobs quickly and smoothly.”

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  1. Onboarding Presented by: Eric Alexander, Quintin Banks, Ikechi Dixon & Lauren Papotto Powerpoint Templates

  2. Introduction to Onboarding • WhatisOnboarding? • ”the process of helping new hires adjust to social and performance aspects of their new jobs quickly and smoothly.” • Informal vs. Formal

  3. Introduction to Onboarding • The Four C’s

  4. Implementation of Onboarding • Process of Onboarding – (Formal)

  5. Implementation of Onboarding • Cost of Onboarding • Losing a new hire within 1 year = three times the employee annual salary. • Formal onboarding success rate of 58%, retention period of three years plus.

  6. Implementation of Onboarding • New Hire Kits $35 - $45 • (Prep & Postage) • Travel Costs • Technology Costs

  7. Implementation of Onboarding • Four ROI new hire cost saving points • Automating manual processing • Reduce turn-over • Reduce travel from 30% to 15% • Avoid compliance related costs

  8. Implementation of Onboarding Personnel needed for implementation

  9. Implementation of Onboarding • Employee traits or behaviors

  10. Benefits of Onboarding • Effective onboarding practices: • Boost an organization’s retention rate • Help drive employee engagement • Speed employee contribution • Revenue increases when new employees are productive faster. • Turnover decreases, new hires bonded to the organization.

  11. Benefits of Onboarding - Statistics • Survey of HR executives • 47% of companies provide onboarding support • 31% are actively planning onboarding • Of those providing or planning to provide: • Over 50% provide it for managers and above • Almost 25% provide it for individual contributors as well.

  12. Benefits of Onboarding - Statistics • According to research conducted by the Aberdeen Group: • 86% of new hires make their decision to leave or stay within the first 6 months. • New employees are 69% more likely to stay after three years if they’ve experienced a well-structured onboarding program.

  13. Benefits of Onboarding • Company Success Stories: • Washington D.C. Hospital • “Delivering on the Promise” • ”Ultimately, when people are made to feel welcome, they are more productive, less stressed, and more team focused. This all translates into lower turnover rates.”

  14. Criticisms of Onboarding • Businesses or industries where formal onboarding is impractical: • Small (Start-up, professional services) • Family owned business

  15. Criticisms of Onboarding • Prohibitive cost factors: • Money, Time, and People. • 35% devote $0 to onboarding • Effective onboarding is an investment. • Smaller firms lack resources to invest.

  16. Criticisms of Onboarding • Threats to the onboarding process: • Overloading New Hires • Ignoring Diverse Needs • No Written Plan • No Continuous improvement component • Jobs are not prioritized

  17. Future of Onboarding • Forecasting trends • Onboarding of contingent workers • Technological innovations • Capital One University • Revelations of internal & external benchmarking.

  18. Conclusions • Formal onboarding will be necessary for companies to gain a competitive advantage in the recruitment of the best talent available. • Potential candidates looking for career positions will be more likely to succeed in organizations dedicated to their early development.

  19. References (2006). Capital One University puts employees in the driving seat. Human Resource Management International Digest, 14(5), 19-22. doi:10.1108/09670730610678226 Arnold, J. (2008). Tighter Times, Leaner Technology. HR Magazine, 53(6), 133-141. Bauer, T. (2010). Onboarding New Employees: Maximizing Success. SHRM Foundation, Web. 16 July 2013. Cut Hidden Costs of Onboarding." Institute of Finance and Management. N.p., Mar. 2013. Web. 23 July 2013. DBM HCI White Paper Best Practices on Onboarding Successful Assimilation April 2011 Pdf Free Ebook Download from Www.dbm.fr." EbookBrowse.com. N.p., 2011. Web. 21 July 2013. "Onboarding: Early Engagement Through Recognition." OC Tanner. O.C. Tanner, n.d. Web. 15 July 2013. Schott, Kara. "Effective Onboarding to Engage New Hires." - Human Capital Institute. Human Capital Institute, 13 Aug. 2012. Web. 15 July 2013. Simpson, Jeff. "Onboarding New Staff." WebCPA.com. Practical Accountant, May 2009. Web. 23 July 2013. Zimmerman, T., Gavrilova-Aguilar, M., & Cullum, P. (2013). Rethinking Human Resource Strategies: A Shift in the Treatment of Contingent Workers. International Journal Of Business & Management, 8(7), 28-34. doi:10.5539/ijbm.v8n7p28

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