Park City, Utah (PRWEB) October 18, 2013
Today, Zane Benefits, the number one online small business health benefits solution, published new information on reducing employee turnover.
According to Zane Benefits’ website, reducing turnover is a critical issue for HR professionals and small business owners. Employee turnover is expensive. The cost of losing an employee is estimated to be anywhere from 16% to 213% of the employee's annual salary, depending on their role at the company.
High employee turnover leads to extra expenses, loss of revenue, and negatively impacts morale.
According to Zane Benefits’ website, one go-to-tool for small businesses to minimize employee turnover is an on-boarding program. An effective employee on-boarding program ensures that new hires feel welcome and prepared in their new positions, in turn giving them the confidence and resources to make an impact within the organization. In fact, new employees who go through a structured on-boarding program are 58% more likely to be with the organization after three years.
Employee on-boarding contributes to minimized employee turnover, but that's not the only reason small businesses conduct these programs. Employee on-boarding also reduces costs associated with on-the-job learning and saves supervisors time training the new employee (increasing productivity of the business).
Zane Benefits provides the following tips for an onboarding program:
- Create an on-boarding program that gets employees engaged and up to speed quickly.
- Socialization is an important part of integrating new employees, and helps new employees feel as though they are really part of the team.
- Know how long it takes for employees to become productive.
- Find out why people are leaving the company with exit interviews.
About Zane Benefits
Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHealth") for defined contribution health care. The flagship software provides a 100% paperless administration experience to small businesses and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about Zane Benefits, visit http://www.zanebenefits.com.