A company’s onboarding program ideally sets up new hires for success. It typically serves as an introduction, providing incoming employees with critical insights into their new roles, environments, and company cultures.
However, not all onboarding programs are created equal, and it’s often challenging for organizations to determine if theirs is hitting the right marks or falling short. Fortunately, by examining specific KPIs, it’s far easier to determine whether updates to your onboarding program are necessary. Here are some metrics that can help you measure the success of your onboarding program.
New Hire Satisfaction Scores
One of the most straightforward options for measuring the success of your onboarding program is gathering new hire satisfaction scores. Generally, these are collected through anonymous surveys, allowing any employee who participates to provide meaningful feedback.
Ideally, you want to cover a few separate areas in the survey, ensuring you get a comprehensive look at how new hires view the experience. For example, you can ask for feedback regarding the documentation process, recruiter-led orientations, and other parts of the onboarding program to find out how they feel about each component.
Time-to-Productivity Metrics
A robust onboarding program provides new hires with the knowledge and skills required to perform the duties associated with their roles. Since that’s the case, a successful onboarding program usually reduces the time to productivity, while a subpar can cause it to increase.
When using time-to-productivity metrics as a yardstick, it’s critical to look at a new hire’s performance in the right context. Some roles may inherently come with steeper learning curves, so it’s crucial not to judge an individual employee’s time to productivity against metrics associated with positions that often come with different timetables. Instead, create ranges based on the nature of the jobs, as that can provide more value.
Employee Retention Rates
A successful onboarding program sets new hires up for success, ensuring they have a strong foundation, the proper training, and beneficial connections that help them thrive. When new hires are well-equipped to manage their duties and bond with their teammates early, they usually stay with the company longer than those who don’t. As a result, onboarding often has a direct impact on employee retention.
Generally, you want to separate voluntary and involuntary turnover when examining employee retention rates. Additionally, it’s wise to break down involuntary turnover into categories based on the cause. For example, workforce reductions related to layoffs shouldn’t be clumped with terminations connected to poor performances, as the former isn’t necessarily impacted by the onboarding experience, while it may affect the latter.
At Essium, we strive to help staffing agencies elevate their onboarding game and bridge the talent gap by making it easier to engage with top talent and boosting operational efficiency. Our solutions make implementing a successful onboarding program simple, as well as provide tools that make monitoring its success a breeze. If you’d like to learn more about onboarding solutions from Essium, schedule a consultation call with us today!
