Understanding how to motivate new hires is critical for individual performance and Baptist Healthcare found that you can increase new hire motivation and thus their performance by simply asking new hires to identify their key monetary and non-monetary motivators. The Recruiting Roundtable found that effective onboarding programs can improve employee performance by 11.5%. Improve the on-the-job performance of new hires. Benefits of a great onboarding program 1. If you’re having difficulty recruiting top talent, if you are experiencing increased new hire turnover, or if your new hires are struggling to become productive, this article should provide you with numerous ideas for dramatically upgrading your current onboarding effort, so that you can literally WOW both your new hires and your hiring managers. These extreme practices cover many diverse areas including gamification, providing mentors, extending the duration of onboarding, applying technology to onboarding, and starting onboarding activities before the first day of work. If you are a corporate leader and you are not familiar with these bold new extreme approaches, this article will reveal more than a dozen corporate best practices that you should be aware of. Data has also shown that advanced onboarding can also directly improve several important business factors including the time it takes a new hire to be productive, new hire retention, new hire on-the-job performance and even recruiting. These program ROI from traditional onboarding programs. The data has revealed that advanced onboarding has high ROI, which in at least one case proved to be 10 times higher than the ROI from traditional onboarding programs. By “running the numbers” these firms have discovered the high economic value resulting from adding bold, exciting and high-impact new features that I call “extreme onboarding.” Leaders should also pay attention to onboarding because most of the top employer brands including Google, Facebook, IBM, EY and Zappos have transformed their onboarding approach due to the major impact on the firms’ employer brand image.
In fact, firms that execute it well can expect to nearly double their the corporate revenue growth and profit margins, compared to firms with only average onboarding. But you might be surprised to learn that data from the consulting firm BCG, reveals that onboarding ranks #2 (after recruiting) with the second highest business impact of all of the 22 HR practices.
Hiring managers frequently see onboarding as an afterthought with very little business impact. When you survey recent hires after they’ve gone through traditional onboarding, they unfortunately often describe it as “a mind numbing experience” because of its focus on dry policies and videos, sign-ups and filling out forms.