A survey of companies found strong quantitative data showing that companies must not fail to bring their new employees to better positions. You can get detailed info here to found that there are five ways a business can generate financial benefits:
1. Reduction in replacement costs: The company recorded a decrease in new hires of about 13% in the first year, a combination of "wear and tear" (hires with excellent prospects who have decided to leave the company) and "no wear and tear" (unproductive).
2. Reduction of the wear proportion: There is not only the possibility to reduce wear, but also the possibility to improve the wear mix (ie reduce unfavorable wear rates).
3. Reduction of opportunity costs: There are also alternative wear costs that can be reduced. For example, if the productivity suite fails in the quality improvement role due to poor performance, much time is wasted without making improvements.
4. Accelerate Time Productivity: The time reduction takes an average employee in their role to become proficient which is another benefit that can derive from an organization by greater engagement.
5. Redefining average productivity level: Orientation can also redefine the level of productivity expected of a new employee. For example, an organization would benefit if a customer service representative could be classified as "productive" through better engagement with ten calls per hour instead of eight.