In today’s marketplace, a modern talent acquisition experience is essential for any organization’s success. Onboarding includes the final steps of an integrated talent acquisition platform, and sets the stage for a positive and ultimately productive experience for the new hire. Reducing inefficiencies and increasing effectiveness by leveraging onboarding leading practices reduces the time for new employees to begin being productive and increases the likelihood that they’ll stay with your company.
Many human resources professionals are familiar with the “onboarding curve.” This graphic shows how long it takes for new employees to contribute value. This breakeven point is when an employee switches from being a value consumer to a value creator.
Source: The First 90 Days by Michael Watkins
When this breakeven point happens varies by company, industry, and job type. What if HR professionals were able to accelerate this curve, contributing to a faster time to productivity and an improved bottom line?
Although it may seem impossible for HR to affect the bottom line in this way, it’s not out of reach. This transformational change can occur at one specific step of the employee lifecycle: onboarding. This step is often thought of as the postscript to recruiting, but onboarding offers HR a chance to drive real business outcomes and should be maximized. Streamlining your onboarding process could have large, organization-wide effects that lead to increased productivity, higher performance, and overall happier employees. Jeff Haynes and Mike Windham addressed this point a previous post, but the lesson is worth repeating: investing in onboarding makes sense.
In a recent Oracle HCM Users Group presentation, Jim Fox highlighted five major reasons to implement an effective onboarding process. Collectively, these reasons can spur great organizational change.
Onboarding can provide a significant, companywide boost to real business results, and HR can be the catalyst. Although it may seem like a daunting shift from the way onboarding is currently done, this transformation will pay off in the long run. We recommend you first focus on new employees from outside the company. After you fine-tune onboarding there, move to internal hires. Pick one area of your business to streamline; focus on the areas that will provide the biggest bang for your buck (such as high-volume hiring) and where you experience the most pain points. Start small and you’ll see changes rippling through your organization.