If your company suffers from a high turnover rate, particularly for entry-level employees, your onboarding strategy must be in need of an overhaul.
Turnover of new employees can be quite expensive, as each worker who leaves within their first year can cost up to three times their annual salary. For this reason, companies should take time to consider how their onboarding platform takes care of retaining new hires.
The Wynhurst Group said that 22% of new employees quit within the first 45 days after joining a company. The Society for Human Resource Management even said that 4% of these employees never bother to show up again on their second day. Other new hires wait until six months before they decide whether or not to stay in a company, according to a Monster.com survey.
A software management platform for online courses serves as one option for your company to improve the onboarding experience. A platform like Meta Saas can also perform other tasks such as employee off boarding, which is why many businesses have turned to digital solutions to handle multiple issues concerning their workforce.
The efficiency of your onboarding strategy plays a huge role in convincing employees that they made the right choice. It helps them adjust to the social and performance-based aspects of their work. The faster they learn how to adapt and gain new skills and knowledge, the faster it would be for them to become productive.
For technology companies, the use of augmented reality (AR) technology can help their new employees have a clearer idea of working for their respective industry. Some of the recent applications of AR for onboarding include Apple’s application for showing employees how people work in a facility in real time.
The availability of new digital solutions and technology has allowed more businesses to improve onboarding for new employees. Hence, companies should have no reason for not using them.