Employee turnover is a major reason why businesses don’t succeed. There is an enormous cost to replace a new employee – from recruiting costs to selection and the lost productivity.
A recent SHRM survey showed that 46% of new hires are gone within the first 18 months of employment.
With these statistics, it’s surprising that more effort isn’t put into onboarding – the process of completely indoctorinating a new employee into the company. That doesn’t just mean what they will do – it means understanding and being integrated into the company’s culture. And it’s not just a one-day or one-week process – it’s an on-going, long-term process.