Transforming fresh hires into valuable employees The onboarding program at MasterCard is bit different from others. Once a candidate is hired, he/she will receive a welcome email comprising the company videos’ links, access to the website where h/she needs to upload all important personal details, including personal information and photos, and do all necessary paper works like benefits enrollment, direct deposit, and taxes. Further, the link helps the new hire learn more about the company. On the other hand, the manager can also go online to identify the tools and space he/she requires on the first day. It ultimately culminates into a smooth-sailing onboarding process. Most of the companies pay little heed to their onboard process. However, …show more content…
• Onboarding is different from training: A study posted in the Academy of Management Journal has revealed that the first 90-day period, which is known as the probationary period, is important to create a rapport with the organization, colleagues, and the management. When the level of support is high from leaders and the team, new hires gain positive attitudes about their jobs and work harder. Otherwise, poor support leads to an inverse situation, resulting in unproductive and unhappy …show more content…
So, make sure that the essence of your employer brand is assimilated into your onboarding program. Otherwise, it may leave a negative impact on new hires. • Structured onboarding leads to retention: Believe it or not, a structured onboarding program leads to better retention. A study conducted by the Wynhurst Group has revealed that when employees undergo a structured onboarding program, they are about 58% more likely to stay with the company after three years. Onboarding ROI At first, you need to find out the goals that your onboarding program is planning to achieve and see the significance of these goals to your company. Whatever goals you pursue, make sure that it cultivates retention. Some best-in-class organizations consider three metrics that hold the highest value for both the business and HR. These include: • Retention • Employee Engagement • Time to Productivity Retention: The retention of new hires holds immense importance. Research shows employees undergoing a proper onboarding program are likely to engage more and show greater interest. It ultimately reduces the incidence of “quick