Many people don’t realize this, but one of the more expensive activities any organization goes through is recruiting and on-boarding of new employees.
This process becomes even more costly when the on-boarding process isn’t executed very well because new employees will perform tasks incorrectly and potentially cost your organization even more money.
However, if you do on-board properly, then you can actually realize a pretty healthy return on investment.
Some studies even report that ROI of a robust on-boarding program can be close to $80,000. Multiply that by the number of employees and you start to get into some pretty serious numbers!
By using a combination of live training and well created elearning courses your organization can reap the benefits of a strong employee on-boarding program.
As the infographic below (created by Chronus) points out, having a well executed on-boarding program in place will not only deliver positive ROI, but will also help your organization to maintain its talent.
When proper training isn’t available people become frustrated and often seek opportunities elsewhere. You can help to deter against mass exodus from your organization by making sure people are well educated from their very first day on the job.
The obvious benefit here is that you retain your talent, but an additional benefit includes the cost savings to your HR department – specifically in relation to the recruitment process (an often pricey endeavor).
While having elearning courses in place is a great way to lower training costs you should still include a live training element for new hires. Nothing beats the “human touch”, especially when just starting at a new organization. The trick is to incorporate blended learning so that you can get the maximum benefit for your on-boarding program.