Onboarding: A bespoke approach that reduces costs and increases productivity

Approximately 25% of the working population make a job move every year¹. 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 job². 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.