Glassdoor reports effective employee onboarding increases retention by 82%.
“Organizations with a strong onboarding process improve new hire retention by 82% and productivity by over 70%”
Now consider the cost of hiring a new employee is between ~6-9 months salary (the average salary for a customer success manager in the U.S. is ~$85,000 annually). When you do the math, it becomes clear how costs start to rack up.
If you’re a SaaS company dedicated to growth and gaining a competitive edge, this is an unnecessary cost that every team, including your customer success team, should avoid.
One of the best ways to improve retention is by focusing on your employee onboarding. That’s what we’re going to look at in this Process Street article.
And if you’re going to invest in onboarding, making sure your customer success managers are onboarded effectively is a good way to effectively hit two birds with one stone. Your CSMs are in charge of customer onboarding, so by providing a solid employee onboarding foundation to orient them, you’re also laying the foundation for a solid system of client onboarding.
By the end of this article, you’ll have learned the 16 employee onboarding best practices used by these top 4 international tech companies. Although these onboarding best practices are specific to a customer success manager role, they’re applicable across most business departments.
- Why onboarding is important for retention
- 16 onboarding best practices (used by top tech companies)
- How to implement onboarding best practices in your company
Let’s get stuck in!