Every company has their own version of employee onboarding. Some companies devote two years to the process, spend thousands of dollars and utilize detailed metrics, while others arm a new hire with only an employee handbook and some words of encouragement.
New employee statistics are pervasive on the internet: Four percent of new hires leave a job after a disastrous first day; half of all hourly workers leave new jobs within the first 120 days; nearly 33 percent of new hires look for a new job within the first six months.
But dig a little deeper into the research and there are some encouraging statistics too. Organizations with a standard onboarding process experience 50 percent greater new hire retention; 77 percent of new hires that hit their first performance milestone have had formal onboarding; and manager satisfaction increases by 20 percent when their employees have had formal onboard training.