Companies are increasing devoting more time and money to HR strategies. Specifically, a 7% higher budget per year, according to data from the HR Consultant Abastare. And one of the areas with the greatest amount of work to be done is in the onboarding and adaptation of new employees. Up until a few years ago, brands delegated this entire process to the employees themselves, who had to figure out how to integrate into their teams and familiarize themselves with the tools and working methods.
These unplanned integration processes have dire consequences for talent retention, which is a serious issue if we take into account that, according to a CIPD study, 20% of employees go through some type of job transition each year. According to a study by The Culture Works, single-day onboarding strategies cause only 4% of new hires to finish their first day feeling fully convinced that they want to stay in the company, and only 25% stay after the first year!
To improve this aspect, at Homuork we have been developing an onboarding plan for years that is based on three objectives: 1) improve the entry and adaptation of new employees, 2) accompany them during their first year in the company and 3) compile their experiences to make continuous improvements. A strategic plan that has been running in pilot mode at Homuork since 2015, but that is designed for immediate implementation in the environments of our clients (large companies).
How do we do it at Homuork?
The onboarding plan we have developed is intended to be a year-long journey, divided into seven phases to cover all stages of the onboarding process within today’s business world. It all begins in the days prior to the employee’s incorporation, when they receive a series of access keys for doing their job, a welcome pack with corporate material and a passport that will set the relational objectives to be met by the employee throughout the process. Once in the company, the plan will facilitate the employee’s integration by setting up meetings with their new colleagues and joint activities, such as recording their first-day video, in which the employee will discuss their first impressions as well as their expectations as a new member of the company.
The employee’s journey will continue throughout the year with 1to1 sessions with colleagues, as well as activities to help them visualize their growth. After the first twelve months as part of the team, the employee will be able to recover the video they recorded on their first day with a dual objective: analyze the contrast between what they expected from their first year in the company and what it was really like, and contribute their experience in order to help the company review the strengths and weaknesses of an onboarding plan that is designed to be a living project.
A Custom Plan
At Homuork we know that implementing an onboarding plan means an improvement in talent retention and the integration and performance of employees. Numerous studies prove this to be true. The SHRM Foundation’s report, ‘Onboarding New Employees: Maximizing Success’, guarantees that an advanced onboarding process improves the new hire’s effectiveness by 11.5% and has a direct impact on loyalty, as 69% of employees who are part of an onboarding process spend over three years in the company.
It is for this reason that we have created an adaptive onboarding plan that is ready to be applied almost instantly, so that any company that wants to improve the entry process for its new employees can implement an effective tool that is constantly undergoing improvements, and whose use and access is intuitive.