Good onboarding is a lot less expensive than high turnover. Yet we still see statistics such as 46% of new hires don’t last 18 months and 39% didn’t complete their first milestone on time. And the cost of a new employee who doesn’t make it can be as much as three times their annual salary. In reality, “good onboarding” is so much more than making sure the I-9 is filled out correctly and the new hires have all the info they need to complete their benefit elections. It’s your chance to make a first and lasting impression on your new colleagues, make them feel part of your company, and make sure they know where they can find the information and experts they need to be successful. Successful onboarding is critical, because at some point soon after starting, your new colleague may feel lost and may reconsider their decision to join your firm. If they’ve been properly onboarded, they’ll know where they can get help. If not, they may start looking for their next job.