The Tech Valley Connect model is an innovative onboarding business model to assist employers across the country in leveraging their ability to attract and retain professional talent. This unique onboarding program was designed to meet the direct needs of candidates and new hires addressing; spousal employment challenges and structured community integration support for relocating professionals in the Capital Region of upstate New York.
Economic Development Organizations (EDO) act as a centralized resource hub, navigating valued candidates as well as new hires and their families in a way that accelerates personal and professional networks. Each new hire and those with families face demanding challenges when they consider relocating to advance their careers. These obstacles can manifest in job offer refusals (57% of employees decline relocation due to spousal employment) and even the costly decision to leave a job soon after being hired (replacement costs for a professional hire are estimated between 150% -213% of salary and can go higher) .
The Connect Model’s value is found in creating a key confidential resource for newcomers who are able to seek information and support during their relocation process. These newly relocated individuals can accelerate their quality of life and once connected to the things that are most important to them – make the new location a permanent destination. Employees who experience an onboarding program are 58 percent more likely to remain with the organization after three years. More than minimizing turnover, onboarding strengthens the workplace culture, increases job satisfaction and job performance and reduces workplace stress. According to Glassdoor.com, studies show that a strong onboarding program can boost new hire productivity by 70 percent. Seventy-seven percent of new hires who have a formal onboarding process hit their first performance milestone, versus 49 percent without.