Each time a new hire doesn't make it past the first year anniversary, the cost to the organization in replacement initiatives is 150% of that worker's annual compensation. For example, consider the hospital with a 20% turnover rate. If that hospital employs 600 nurses with annual salaries of $40,000, it will spend over five million dollars replacing staff every year. With these labor costs adding up to as much as 52% of a hospital's annual operating expenses, strategic onboarding becomes a very good idea.

The most effective onboarding begins during recruitment. As Jim Collins, author of #1 bestseller Good to Great, emphasizes, the first step is to "Get the right people on the bus." Collins describes how great organizations "take the time to make rigorous A+ selections right up front. If we get it right, we'll do everything we can to try to keep them on board for a long time."

Effective employee onboarding programs:

1. Reinforce the candidate's decision to join the organization, as well as the employer's decision to hire that candidate.

2. Engage the new employee and help to align the new employee's talents with the employer's business objectives.

Strategic onboarding programs that are customized to the organization and to a new employee's needs, will increase new employees' satisfaction, success and retention. In return, the organization benefits from increased productivity and a healthier bottom line.

Is your organization's onboarding program designed to ensure new hire retention and long-term success? Let NAS develop a plan that helps you hire the right people and encourages your best to stay. Contact us today or call us at 1-800-NAS-HEALTH.

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