We all know how important first impressions are for a business.
A bad first impression can make or break a long-term profitable relationship with a customer.
Say they continue to be your customer after that bad first impression, you know that they will probably be very reluctant to refer people to you or tell their family and friends anything positive about doing business with you. It is basic marketing 101, your first impression to the customer is gold and you only get one time to make a first impression.
But did you know that this same principal applies to your new employees?
How your business starts off its relationship with its new employees will dictate the type of relationship your new employees will have with the overall business and with your customers.
It is a well-documented fact that approximately 90% of employees make their decision to stay at a company within the first six months.
If you go through the trouble and expense of finding the best, and investing in them, why not give them a world-class onboarding experience so they want to stay?
What is onboarding?
Onboarding, not to be confused with orientation(!) which is the legal aspect of signing paperwork etc., is a very close and personal introduction to a company’s culture, employment brand, employees, mentors and ongoing business objectives. It can last for several months to a year.
Companies that use a well-thought out and well-planned onboarding programs for their employees see higher revenue and profit margins; retain more customers; acquire a stream of new customers; experience less turnover and have happier employees.
According to the Aberdeen Group, organizations with structured onboarding programs enjoy a 60% year-over-year improvement in revenue per full-time employee and a 63% year-over-year improvement in customer satisfaction.
Here are some more benefits from onboarding:
Employees are engaged and connect to the culture of a company, which leads to lower turnover and higher retention at a fraction of the cost of recruitment.
New hires become productive faster, helping them add to the bottom line.
Makes employees feel valued which will bring out a sense of loyalty and desire to make the relationship work.
A motivated workforce means your customers will see happier more efficient and knowledgeable employees thereby improving customer retention and growth.
Employees understand their contributions to the business and are more productive and educated about the company and its products giving them the confidence needed to be great at their jobs.
Successful companies capitalize on the first impression because their bottom line proves the better relationship a company develops with their customers as a result.
And by the same token, a better first impression to a business’ new employees guarantees a better employee and an even better bottom line.
(c) New To HR.