How much does friction-filled onboarding cost you?
⏱ 2.5 min read
Let’s roll-play it out 😈
(Vetty) – Have you heard of the Rule of 20’s and how it impacts your onboarding process?
(You) – Nope, what’s the Rule of 20’s?
(Vetty) – Here’s a hint: It’s your worst nightmare, and the result comes often from a dreaded “First Day Flop”.
(You) – What’s a First Day Flop? (…I think I’m getting closer…)
(Vetty) – You know, when an employee starts and the prehire onboarding process has been riddled with issues. Perhaps it’s a delayed start due to a verification, a rough screening experience because the applicant didn’t have what they needed, maybe their computer didn’t make it to their home. It all adds up – add’s up the rule of 20’s.
(You) – Yep, definitely had a few of those, they’re killers to our Candidate Experience.
(You) – TELL ME THE WHAT THE RULE IS!
(Vetty) – I thought you’d never ask 🤣.
The Rule of 20’s is one of Vetty’s north stars, it should be yours too. Let’s dive in.
The Department of Labor has some incredible data sets, and we put them to use and crafted a Vetty fun fact, the “Rule of 20’s“. Drumroll….here they are:
- Rule #1: 20
%of your employees will know on Day 1 if they made the right decision, and whether or not they’re going to stay or dance on out 💃🏽
- Rule #2: 20% of those will leave within the first 90 days. A contrarian would say, scary to think that 80% of disengaged employees stay 🤭
- Rule #3: 20% of their salary is the average cost a business occurs to replace that employee 💸.
What does this mean? It means that the prehire onboarding experience should be very important to your business and it can be detrimental to your business if you don’t zero in on it.
Want to build the Most Engaging Applicant Experience to avoid your Rule of 20’s? Use one of these templates and Win your hiring game.