Setting up a frequency : Determine the time periods when data will be measured. This could be a week, a month, or another time interval. The main thing is that the deadlines are strictly observed.
Segment your data : Separate your data by team or department. This approach allows you to get a more accurate picture and assess the effectiveness of onboarding in different parts of your organization. For example, employee turnover may differ significantly between retail locations and call centers compared to the finance taiwan business email list department. Mixing these data together can distort the overall picture.
Consider regional differences : Consider differences between regions. For example, employee turnover in large cities may be higher than in smaller cities with smaller populations.
Effective data collection and analysis allow companies to better manage the onboarding system for new employees.
No show on the first day
This metric can also be called the "pre-hire retention rate":
Retention rate to acceptance = number of offers submitted on day one / number of offers accepted
Let's assume that 10 offers were sent out, all of which were accepted. However, only 4 employees showed up for work, the rest did not show up without warning. In this case, the coefficient will be: 10 / 4 = 2.5.
Whether this is a good metric depends on the specific department or team for which it is calculated.
Retention rate during adaptation
Michael Watkins in his book "The First 90 Days" points out that the break-even point for a new employee is reached 6.2 months after hiring. This means that after 180 days, the company begins to receive more income from the employee than it spends on his or her maintenance.
Retention rate during adaptation
Source: shutterstock.com
Typically, the adaptation period of a new employee is considered to be the first 90 days of work, so the retention rate is calculated for this period. The indicator includes employees who left the company during the probationary period. However, for more accurate calculations, you can change the number 90 to 180 in the formula.
Onboarding retention rate = # of employees staying for 90 days / # of hires
The closer this coefficient is to the value of 1, the more effective the adaptation program is in a specific team or department. It is especially important to analyze the retention coefficient at the level of an individual manager: if the indicators are low, this may indicate the need for adjustments in work and management methods.
Quality of the adaptation program
This indicator is often referred to as CSI (Customer Satisfaction Index). The assessment takes place in two stages:
First, you need to develop a questionnaire and ask participants to rate each aspect of the program on a scale of 1 to 10.
Then all the points received are added up and divided by the number of grades to get the average score.
Adaptation score = Sum of points \ Number of ratings
For example, survey participants rated 10 aspects of the program. The total number of ratings was 160, and the sum of the points received was 932. In this case, the adaptation rating would be 5.8.
The method allows for assessment at various stages of adaptation: after the first week, month, quarter or year of work.
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Alexey Boyarkin
Dmitry Svistunov
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Success rate of introductory courses
Also known as Course Completion Rate (COR), this metric measures the percentage of new employees who successfully complete their induction training.
Success rate = (Number of completers / Number of starters) x 100%
For example, if 50 employees started the induction training process and only 37 successfully completed it, the completion rate would be 74%.
Success rate of introductory courses
Source: shutterstock.com
This metric helps identify problems with the quality of training programs: too complex, theoretical, or difficult to understand. A low completion rate may also indicate problems in a specific department or team.
For example, if Department A has a completion rate of 56% and Department B has a completion rate of 89% with identical training programs, this may indicate insufficient management support for training.
Reaching full productivity
It is vital for a company to get a new employee working autonomously and productively as soon as possible. This not only helps to recoup the costs of hiring them faster, but also strengthens their attachment to the company, reducing the likelihood of them leaving.
The process of reaching full productivity can be difficult. The new employee's manager may perceive him or her as underperforming, especially if the team is used to pushing themselves to the limit. This subjective perception can interfere with obtaining real data.
Reaching full productivity
To eliminate such distortions, it is useful to use the employee's job descriptions. As soon as the newcomer reaches the level of independent performance of all tasks provided for in the description, he can be considered "fully productive."
Time to Productivity = "Full Productivity" Date - Hire Date
For example, if an employee was hired on December 16 and began independently performing all of his or her tasks on March 4, the period to reach full productivity would be 79 days.
It is important to consider other metrics that help evaluate the effectiveness of training and adaptation of new employees. However, these five key indicators are enough to adjust the onboarding processes and use modern adaptation and training tools.