Elevate your business with onboarding_

Elevate

What does “elevate your business” mean? 

Elevation is about capturing learnings and key measurements, both positive and negative, from your new hire journey and applying them for increased business success.

By now, we know that onboarding is a great strategy to improve retention, shorten time-to-productivity, and foster engagement. But to see just how much onboarding influences these, we need to measure and improve.

Here’s the problem—55% of organizations don’t measure the effectiveness of their onboarding programmes at all.



On top of this, there’s a difference between knowing that something is important, and measuring how it is influencing your business.

Such as: 33% of organizations agree that reducing “time-to-productivity” is an important goal for their employee onboarding programme, yet only 7% measure it.

Currently, most organizations struggle with what to measure and have no clear systems in place to accurately capture and analyze data.

How do we elevate with onboarding?

Organizations with best-in-class onboarding measure, at a minimum, engagement, time-to-productivity and retention.

There is no “catch-all” definition of what a good or bad result is when measuring these key metrics—there are a number of variables specific to your organization to take into account.


Start by identifying your own industry standards.


This is especially relevant when measuring retention. The average turnover rate across the modern workforce sits at around 10.8%—but when you dive beneath the surface the reality is a little different; high average turnover of around 13.8% within the tech industry drives this average up. So if you’re not in the tech business, measuring your own performance against this number isn’t realistic.

Engagement and time-to-productivity are harder to measure than retention— so it’s necessary to create your own definition of success and identify metrics that will best inform this definition.

2 ways to measure time-to-productivity:

• SIMPLE
  Have Managers declare a “full productivity” date for every new hire.
• MORE COMPLEX
  Create an in-depth quiz and deliver it to all new hires at the end of each of their first 3 months.

Once you’ve defined which metrics are relevant to your organization and mapped how you will track them, you can build a base-line and start improving. Give yourself sufficient time to let your new initiatives take effect. You want a strong data set to draw from before you start analyzing the results.

We’re looking for trends, both positive and negative, across your key metrics.

How you can elevate your business with Talmundo

Reap the rewards—uncover insights and leverage data to make informed decisions with our best-in-class analytics.