North American companies spend $4 billion annually on new-hire orientations–much of that value lost after day one. In addition to such administrative figures, consider the impact of a multigenerational workforce. Nearly all new hires decide, within the first six months, whether or not they will stay with their new employer. And new employees coming into the workforce–including Generation X (born between 1965 and 1980) and Generation Y (born after 1980)–will have an average of 20 jobs over the course of their careers.
Given these numbers, the goal becomes clear: to attract and retain a multigenerational workforce, employers today must provide a better new-hire experience, with fewer steps, and lower costs.