Ask someone to define onboarding for you, and they’ll probably answer on the lines of how it is all about welcoming someone to a world that he or she has never seen before. But when you use the term in the digital industry, it holds a lot more meaning than just that.
Onboarding is multifaceted and the most successful businesses today, are making the most out of each of its personalities.
Because turnover is an expensive phenomenon – the cost of customer acquisition becomes 5 times when retargeted, the cost of replacing an entry level employee itself is 30-50% of the person’s annual salary and so on. But long story short, every departure results in loss of morale and productivity. Having an onboarding process for everyone just makes it a whole lot easier for the business to function – it reduces time to reach optimum productivity, helps get rid of stress, decreases the turnover by manifolds and definitely ensures delivery of the right business message.
Haven’t met them all yet? No worries, meet the various personalities of onboarding with us:
Often referred to as organizational socialization, employee onboarding refers to the process through which new employees gather the necessary knowledge, skills and behavior to become an efficient part of the existing team.
With the human resource market estimating that 50% of hiring failures occur within 18 months on the job for positions other than the serial level, companies – big and small, are making sure their employees aren’t one of the 25% of the population that looks for career transitions every year.
Here’s why we think you must have an employee onboarding process in place:
The onboarding process used to increase the likelihood of a new user successfully adopting your product/ service after purchase, is known as user onboarding. The primary reason behind businesses making it a vital part of their marketing strategy is retention.
User retention is important in today because almost each product/ service out there has atleast a hundred alternatives with competitive offerings. Most businesses lose out on their users in the first two months of the purchase either because the post sales experience was disappointing for the consumer or the consumer simply didn’t understand how to make the most out of his or her purchase.
Here are 7 metrics that show you need a well-structured user onboarding process in place:
Still wondering why you need to dive right into it? Here’s why we think user onboarding is a must: Read more.
One of the most critical functions for B2C as well as B2B companies, client onboarding directly impacts the client experience, servicing, and relationships – leading to increased ROIs. Every client has different expectations, goals, objectives and grasp of the product/ service you are offering; making it a must to include a self-introduction while onboarding them.
Some of the best practices for executing a successful client onboarding process include:
Thinking about rehashing or creating a new onboarding process, but don’t know where to start? We believe in starting with the right tools in place and so should you: The Onboarding Toolkit You Absolutely Need.