Talengo: Welcome To The Virtual Team: Executive Onboarding In A Remote Environment
Onboarding is the most critical factor in determining a new hire’s success. The first 90 days of "organizational socialization" impact the future results of the employee mid-term. The best organizations, that have robust induction processes, achieve 2.5 times more revenue and 1.9 times more profit than those that do not. It’s important to note that a failed management hire can cost 10 times the salary. While 40% of new hires derail after 18 months, this figure drops to 10% of those who experienced an excellent onboarding process.