According to Business News Daily, only 43% of employees receive more than a single day of orientation and basic benefits information during their onboarding experience.
Exposure to such limited information can lead to lower productivity, disengagement, and increased turnover rates. However, with a strategic, well-structured, and personalized onboarding program tailored to the employee’s role, you can achieve a successful onboarding experience for your team.
Strict regulations and the need for specialized expertise in the BioPharma industry warrant a well-rounded onboarding process for all BioPharma firms.
In this article, we will discuss the significance of a robust onboarding process and its impact on employee satisfaction and retention. We will also go over vital elements of an effective onboarding program customized for the BioPharma sector, and cover engagement tactics to foster positivity in your newest team members.
The Importance of a Strong Onboarding Process
An effective onboarding process can profoundly impact your employee’s satisfaction and the likelihood of staying with your company long-term. A study published in the Society for Human Resource Management (SHRM) reveals that companies with structured onboarding programs can increase employee retention rates by 69% after three years.
Additionally, employees who receive a positive onboarding experience are more engaged and productive, resulting in higher company-wide productivity.
But the benefits of a robust onboarding program continue beyond retention. An onboarding program is also a critical element in cultivating a strong company culture. Welcoming new hires warmly and providing the necessary support is essential for building a strong company culture that fosters a sense of belonging and camaraderie among employees.
Ultimately, this leads to a happy and motivated workforce and a positive work environment for everyone.
Key Components of an Effective Onboarding Program for the Biopharma Industry
For BioPharma firms, one of the essential training topics for new hires is compliance, given the sector’s strict regulations and guidelines. New employees must be made familiar with instructions on vital regulations, such as FDA guidelines, GMP requirements, and HIPAA regulations.
Job-specific training is also vital. BioPharma employees must show proficiency in specific tasks, medical equipment, and clinical procedures, hence, a comprehensive training plan that covers all aspects of the job is necessary.
Mentorship is also an important aspect of an efficient onboarding program. New hires benefit significantly from experienced mentors who can help them navigate industry complexities and answer any questions they have.
Strategies For Engaging New Employees During the Onboarding Process
Personalized welcome kits such as company-branded water bottles, coffee mugs, or notebooks, can be a good addition to the onboarding process. Such thoughtful gestures can make the new employees feel welcomed and valued.
For remote employees, virtual tours can also be an effective onboarding strategy. Such tours can provide an overview of your company’s mission and history and introduce new hires to their colleagues or team members.
Team building activities like onboarding lunches or volunteering can also help new hires feel part of the team and connected to the company.
Success Stories and Best Practices from Leading BioPharma Companies
Novartis, a global healthcare company’s onboarding program has adopted comprehensive training and mentorship opportunities. According to Novartis, their personalized onboarding program has increased employee retention rates.
GlaxoSmithKline, a famous pharmaceutical company also showcases an example of a successful onboarding experience for its employees. In 2022, the employee engagement score of GlaxoSmithKline increased to 81% from 78% in 2021. This was measured through the culture progress KPI that measured how ambitious the staff members are for patients and how motivated they are to do the right thing.
A strong onboarding program in the BioPharma industry impacts employee retention, productivity, and overall company culture.
To create an effective onboarding program, companies must provide comprehensive training, and engage new hires through personalized welcome kits, virtual tours, and team-building activities.
Many success stories featuring effective onboarding experiences are out there, and BioPharma firms can take a leaf out of these companies’ books and implement successful strategies in-house as well.
Brio Group connects BioPharma companies to top-level talent and guides companies to adopt best hiring practices.
Contact us to learn more.