Onboarding Programs Critical for Planting the Seeds of Employee Engagement & Retention
Organizations rely heavily on effective onboarding programs to bring their new hires up-to-speed. Despite this, even if revenue growth expectations are at an all-time high for a company, training budgets often remain the same or are even cut due to the misunderstanding of just how important efficient and strategic training programs can be to an organization. Onboarding programs not only help to influence the success of new employees, but they are also opportunities for companies to make positive impressions and can help to encourage long-term company loyalty.
In order to develop & maintain successful programs, leaders in the commercial onboarding area should focus on the various key factors associated with onboarding activities, including structure, objectives and effectiveness. Evaluating your organization’s approach to onboarding relative to other market leaders can help your company to avoid common pitfalls & can encourage success.
The following are key areas to focus on when developing a high-performing onboarding program:
Onboarding Program Duration: 60% of pharmaceutical & medical device participants in a Best Practices, LLC study have training programs that last a week or more. This reflects a positive shift from recent years when new employees would only receive one or two days of training.
Onboarding Productivity Goal: Getting employees up to productivity quickly is a primary goal for both pharmaceutical & device industries. A majority of companies mentioned that their onboarding systems help to accelerate speed to productivity and produce other engagement benefits. On the other hand, 50% of respondents are only “somewhat satisfied” with the progress they’ve made, signaling that there are still opportunities for program improvements.
Onboarding Retention Success: Only 27% of pharma & device respondents listed that increasing employee retention was a primary goal within their onboarding program. However, it is important to remember that the seeds of retention are sown early – often before a new hire even walks in the door – but they will only grow if cultivated over time.
Developing an effective training program is absolutely critical for the development of successful new employees. Although these programs are often under-emphasized, onboarding programs are a fertile time for planting the seeds of employee engagement and retention.