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A report from the Harvard Business Review shows that:
Most business owners know that it costs much more and takes more time to hire a new employee than retaining a current one. Consider the amount of money lost if more than half of your employees leave within a year of being hired.
According to this report, it's anywhere from 100% – 300% of each employee's salary.
The Karolinska Institute in Stockholm examined the onboarding process of new professionals.
The study covered performance, emotions, and challenges arising in the first year of employment. The results showed that organizations with effective onboarding programs are more successful than those without successful onboarding.
The key is happier employees.
Petter Gustavsson, Author and Psychology Professor, says:
The initial period at a new workplace is associated with a steep learning curve and stressful moments. This type of stress can positively impact energy levels and learning. But, it might also lead to a lack of recovery and a reduced ability to learn. Many employers recognize this and provide their employees with onboarding programs to ensure the best possible start."
This Playbook Playlist helps super-power your internal onboarding process and reduces the stress impact on your new employees. In addition, this Playlist will help foster an environment of psychological safety while also reducing the negative cost associated with starting a new career or job.
We want to ensure that your new team members start their new roles with a solid base of positive stress to build on as they progress through the next 90 days.
This solid base can allow for better skill acquisition, improved team alignment, and a faster and more successful ramp-up for your new employees.
This month will have a support focus. The goal is to down-regulate stress and help your new teammates adapt and learn in a psychologically safe environment.
Work stress is applied more generally, with a particular emphasis placed on relationship building and adapting to team culture.
Pro tip: To use this Playlist, hit the Start Playbook button on the Playbook, and you can start customizing it and sending it to your team right away.
Month two starts adding a mixture of support and challenge Playbooks. The goal is to begin adding stress while we maintain focus on team building and learning.
In addition, we will start working towards more specific on-the-job training this month while still creating positive and supportive relationships.
The final month of onboarding focuses on improving performance, resiliency, and applying new skills to the job role with challenge Playbooks.
Month three is where we introduce "real-world" stress and actual live training into the employee onboarding experience.
The goal is to emphasize understanding how the new role works and day-to-day expectations, including goal setting and KPIs.
Try out this Playlist with your team, or find an even better Playbook in the Playbook Library that works best for your team.
You can search, start, set due dates, customize and send it to your team right through LEON.
And even better, you can use our weekly check-in feature to understand which teams need help and how best to support them.
Get started with LEON today.
