According to the Bureau of Labor Statistics, there were 4.8 million job openings and 4.6 million hires on the last day of August 2014. That's the highest number of job openings since January 2001, but the new hires number was a decrease from July. Furthermore, the turnover rate was 3.2 percent, accounting for 4.4 million people. By crunching those numbers together, the report indicates that net employment is positive. However, it could be better. Putting the work into training a new employee just to lose them is a hit to a company's resources. By decreasing turnover, companies may increase the return on their investment. Retaining employees begins on day one. An intelligent onboarding program may help warm people up to their new jobs and decrease turnover.
The training process of a job is very telling: It shows people whether they'll be supported and get the knowledge they need to complete their jobs. If a new employee is placed in a corner to read a bunch of documents all day, they could feel lost and forgotten. If they're thrown right into the fray, they could feel overwhelmed and incapable of meeting expectations. As such, training should live in a middle ground. Employees can watch short video sessions (less than 10 minutes) then apply their knowledge with some supervision. This method prevents new hires from getting bored, lets them test their skills and ensures they're learning relevant information.
Information overload is possible, especially for those starting a new job. Companies can mitigate the problem by keeping information separate. For instance, orientation and training may occur on different days. That way, the employee has time to soak in the new knowledge before delving into something else.
By improving the onboarding program, new hires may feel their jobs are a better fit. This makes staying with the company an appealing prospect. Which is where our video onboarding tool becomes a tremendous asset for companies looking to change how they bring up new hires. If you'd like to see the benefits of our effective new hire curriculum firsthand, request a free trial of ej4's Thinkzoom today.