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Brief

The True Cost of Not Having a Talent Management Strategy Series: Onboarding and Learning

Are you throwing money down the drain? You are if you’re not onboarding and training your employees. Companies will think nothing of spending thousands to recruit the best talent—but balk at spending mere hundreds to onboard and develop them. The math doesn’t make sense: hiring good people can cost up to 30% of the position’s salary.1 Do that a mere three times in one year, and there goes an entire salary without any gain in productivity. Yet studies show spending just $800 per learner can make a big difference in engagement, retention, and profits.Are you throwing money down the drain? You are if you’re not onboarding and training your employees. Companies will think nothing of spending thousands to recruit the best talent—but balk at spending mere hundreds to onboard and develop them. The math doesn’t make sense: hiring good people can cost up to 30% of the position’s salary.1 Do that a mere three times in one year, and there goes an entire salary without any gain in productivity. Yet studies show spending just $800 per learner can make a big difference in engagement, retention, and profits.

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