Want FREE Templates on Strategy & Transformation? Download our FREE compilation of 50+ slides. This is an exclusive promotion being run on LinkedIn.


ONBOARDING TOOLKIT



As an esteemed C-suite executive, it's worth noting Isabel De Clercq's sentiment: "Onboard new hires with a planned-out process and they're significantly more likely to stay long-term." As a leader in your organization, you understand the value of effectively transitioning new hires into your company. This process, known as Onboarding, is more than just a one-off list of tasks to check off—it's a strategic, continuing process that could mean the difference between a fleeting new hire and a lasting, productive team member.

According to research by McKinsey & Co., effective Onboarding can increase new hire retention by 82% and productivity by over 70%. Additionally, a study by Glassdoor found that organizations with a strong onboarding process improve new hire retention by 82% and productivity by over 70%. The relevance and impact of Onboarding is undebatable. But what does an effective Onboarding look like in practice, and how can it be strategically implemented to its full potency?

Turn Onboarding into a Strategic Advantage: Best Practices

Knowing that Onboarding can directly influence a company's bottom line, it's imperative to execute it strategically and efficiently. Here's where you, as a C-level executive, can step in to set the tone for an effective Onboarding:

  1. Integrate Onboarding into your overall Talent Management Strategy: Onboarding should not be a standalone process. Instead, it should be woven into your company's larger Talent Management strategy, encompassing Recruitment, Performance Management, Leadership Development, and Succession Planning.
  2. Foster a Culture of Learning from Day One: Encourage a culture of continuous learning from the outset. Facilitate programs for skill enhancement, and ensure new hires comprehend the company's strategy and goals, helping them align their efforts accordingly.
  3. Adopt a Phased Approach: Instead of overwhelming the new hire with information on the first day, adopt a phased approach. Spread the Onboarding activities over a period—typically 90 days or more—to allow new employees to digest information and adapt gradually.
  4. Use Digital Platforms: Digital Onboarding platforms can simplify the process, drive engagement, speed up the learning curve, and facilitate 'pre-boarding'—the practice of providing relevant information to new hires before the first day.

Keys to an Effective Onboarding Process: A Strategic Consultative Perspective

Consulting firms such as McKinsey, Boston Consulting Group (BCG), and Bain & Company have identified several key principles that can optimize your Onboarding process:

Leveraging the McKinsey Insight: Onboarding as a Part of Digital Transformation

Onboarding is no longer just about integrating a new hire. As the world moves toward digitization, it's worth considering Onboarding as an intrinsic part of your company's Digital Transformation agenda. Digital technology not only streamlines the process but provides a platform for continuous feedback, thus defining the new hire's journey within the organization. It's about making the Onboarding process an enriching experience for both the company and the new recruit. As the workplace dynamics evolve, the process needs to constantly accommodate changing business scenarios and personnel requirements.

As declaimed by Josh Bersin, global industry analyst and thought leader, "Implementing a new Onboarding strategy can seem daunting, but the return on investment can be substantial. Not only can it improve retention and productivity, but it can also build a strong employer brand that attracts top talent in the market."

For more information, have a look at these management topics:




CUSTOMER TESTIMONIALS




SELECT CUSTOMERS
Since 2012, we have provided best practices to over 10,000 businesses and organizations of all sizes across the world—in over 130 countries. Below is just a very small sample of our customer base.



Did you know?
The average daily rate of a McKinsey consultant is $6,625 (not including expenses). The average price of a Flevy document is $65.







Browse our Business Toolkits
to quickly find the documents you need.
Each business toolkit is a collection of documents around a common management topic.





TOP 40 TRENDING TOOLKITS


  Show all available toolkits.

Download our FREE Strategy & Transformation Framework Templates

Download our free compilation of 50+ Strategy & Transformation slides and templates. Frameworks include McKinsey 7-S Strategy Model, Balanced Scorecard, Disruptive Innovation, BCG Experience Curve, and many more.