Did you know that 63% of CFOs have reported an increase in employee turnover over the past three years? 

Employee Benefit News (EBN) reports that it costs employers approximately 33% of a worker’s annual salary to hire a replacement if that worker leaves. Aside from the staggering monetary costs, employee turnover costs organizations significant time and resources, not to mention the impact on productivity, employee morale, and project deadlines. 

However, studies show that 75% of the causes of employee turnover are preventable. In addition, companies with lower turnover rates are reported to bring in 4 times higher profits on average.

The key to reducing turnover? High employee engagement. An engaged workforce positively impacts the productivity and profitability of an organization, as well as its ability to retain top talent. This engagement begins on the very first day of new hire onboarding, and is especially important when it comes to company-wide knowledge of your business-critical systems.

Let’s explore the impact of robust new hire training and continuous learning in reducing turnover and driving technology best practices across your maritime organization.


Benefits of Properly Training New Hires

In a previous blog post, I discussed the plethora of benefits that stem from a culture of continuous learning – from higher employee retention, to more effective onboarding, to future-proofing the organization for the skills, positions, and technologies of tomorrow. And nothing sets the tone for company culture like how you welcome and support new talent. 

Properly onboarding and training employees goes far beyond basic orientation to truly educate your workforce on systems and procedures at the heart of the business. As such, it is not only an investment in their success, but also an investment in the success of the organization. The following are some key outcomes from a robust new hire training program:

  1. Increased productivity and performance across the organization by establishing best practices for systems and procedures from day one. 
  2. By standardizing training, employees will follow similar procedures, resulting in uniformity of work processes.
  3. Proper systems training reduces risk of user error, saving valuable time, resources, and money.
  4. Improved organizational structure enabled by a consistent and systematic method of employee learning.
  5. A structured training program will make employees feel like they are a part of a supportive work environment, resulting in boosted morale and self-confidence.
  6. With a more refined skill set and access to continued learning, an employee can advance their career faster, enabling the organization to more easily and effectively promote from within.
  7. Well-trained employees are better equipped to offer elevated customer service, improving customers’ valuation of your organization.
  8. As technology rapidly evolves, exposing employees to new techniques and capabilities is crucial to future-proofing the business.


Robust VIP New User Onboarding With Veson University

Among all the exciting content continually being released in Veson University, the portal offers a VIP New User Onboarding learning path created specifically for beginner-level training on VIP’s end-to-end functionality. 

Master VIP’s core functions and workflows through videos, quizzes and interactive content designed for a proven learning experience. With unlimited access to course material from anywhere with a browser and an internet connection, your teams have the flexibility to take courses at their desired time and pace. 

All courses are free of charge for the entirety of 2020, and anyone can register to learn and build their skills in Veson University. Explore VIP New User Onboarding and start learning today!