Induction or Onboarding? Whatever… but it is key for new appointments

As recruiters we are often intrigued by the level and quality of induction and onboarding for new recruits or promoted internals. There are significant costs in firstly recruiting, but also the costs of losing someone because they dont settle or fail to perform to the required standard. So why invest time and cost in getting the right person, only to not fully support them. Some similar views found in this article:

Onboarding: A bespoke approach that reduces costs and increases productivity

Approximately 25% of the working population make a job move every year. Given the rise of the gig economy and the game changing impact of virtual technology, our increasingly automated workplaces can anticipate even higher levels of employee movement.  As the trend takes hold the cost of replacing leavers has the potential to rocket.  In fact, according to a study by Oxford Economics in 2014 it costs the organisation a staggering £30,000 to replace a single job. This includes costly recruitment campaigns, lengthy selection activities, unsatisfactory temporary resources, labour costs, logistical expenses and loss of productivity.

Over time, faced with a new reality, organisations will be forced to take steps to reign in the direct costs of recruitment finding innovative, faster and more cost effective ways to attract and select employees.  However, indirect costs such as loss of productivity are more evasive and more complex to address.  For example, there is a period of time when the departing employee starts a process of ‘letting go’.  As they disassociate the impact of their diminishing productivity will be felt keenly by the people who rely on their know-how and contribution.  To further compound the dilemma, it also takes some time for the incoming employee to reach an optimal level of productivity.

So, is loss of productivity inevitable and can it be minimised?

Full article on HRGrapevine