A 2016 survey found that American companies had an average turnover rate of 17.8%. But the survey also found that 69% of employees are more likely to stay with a company for at least three years if they experience a positive onboarding process. Even if you exclude high-turnover industries like retail and hospitality, that’s still an extremely high overall turnover rate.
So, to avoid becoming a statistic of a high turnover rate, make sure your new employees have a positive onboarding experience. Easier said than done? Not necessarily. With the right training approach, the onboarding experience can be a breeze.
Done Correctly, an Employee Onboarding Process Should Not be Expensive or Time Consuming
It’s more expensive to hire a new employee than it is to train an old one in a new skill set. However, most companies’ onboarding processes can’t track employee skill sets efficiently or verify employee skills with data.
Hiring processes are taking longer than ever for human resources teams because positions are requiring more technical skills than before. If you can employ a method of training that accelerates and enhances this process, you can improve both the company’s business impact and the employees’ experience of the hiring process. How to reduce employee turnover rate? Streamline the process.
Improve the Time it Takes for a New Hire to Become Productive
On average, new hires don’t reach a productivity that exceeds their costs until their eighth month of work with a new company. Because of this, a way to improve both the onboarding process and reduce costs for the company is to find a training solution that will reduce the time an employee takes to become productive.
Because Adaptive Learning reduces training time but improves learning mastery, an employee will become fully productive and outweigh their costs in a shorter time. Adaptive Learning truly engages the learner and proves that corporate training can be useful to the employee and help advance their career.
If You Attract More Skilled Employees, the Onboarding Won’t Be So Strenuous
By hiring stronger talent from the start, your average training times will decrease on their own because more skilled employees take less time to train. If your human resources team has an exceptional training solution and onboarding process, you’ll develop a strong reputation attractive to new hires, and more skilled employees will be inclined to join the team.
Having a successful culture of coaching will help new hires feel welcome, and a company that is known for delighting its employees in providing relevant and useful professional development will help attract the kind of skilled workers you need. Once you have these workers, the onboarding process will become much smoother.
Adaptive Learning Can Help Achieve Your Training Goals
Because Adaptive Learning can reduce corporate training times by 50%, it can speed up the onboarding process for your company, making it more attractive to prospective employees and motivating them to stay with your company longer.
Once the word spreads, prospective hires will know that your company values their professional development and you’ll attract more skilled hires. This will help to smooth your onboarding process.