The demand for companies to retain top talent is escalating. And, yet, companies often spend very little time in onboarding new hires. In a recently published survey of HR managers by job site CareerBuilder, 16% said poor or non-existent onboarding lowers their company’s productivity, 14% said it brings on greater inefficiencies, and 12% said it leads to higher employee turnover. Another report by the Harvard Business Review notes that 32% of global executives rate the employee onboarding they experienced as poor and replacing each failed executive can cost a business up to 213% of his or her salary.
Today, onboarding is increasingly being seen as a critical tool to increase employee engagement, reduce attrition and help make new employees more productive sooner. This is exactly why more and more companies have recognized that onboarding software is no longer a luxury, but a necessity.
Onboarding is More than Just Filling Out New Hire Paperwork
When bringing new talent into the fold, most employers tend to focus on paperwork and how quickly the employee can become productive. But with 30% of new hires quitting in 6 months, changing how you onboard makes smart economic sense. The purpose of onboarding is to optimize new-hire engagement and increase time-to-proficiency, but it does much more than that. In our recently published white paper “10 Must Have Features of the Best Onboarding Software” we break down the onboarding process which talks about what best-in-class features are “must haves” when implementing new onboarding technology. Our onboarding platform is designed to transform your new hires into fully productive employees starting on day one.
Onboarding is now and Integral Part of HR and the Employee Life-Cycle Process
Onboarding’s impact on business performance has increased dramatically over the past year. A 2018 survey from a research and analyst firm found that 40% of more than 580 small and large organizations surveyed have an onboarding solution. That’s compared to a similar finding in 2017 that reported only 26% had an HR onboarding system.
Choosing the Best Onboarding Partner
Onboarding represents more than readying a new hire to hit the ground running – it sets the tone for an employee’s tenure. There are considerable tasks that correspond with onboarding that must be considered to maximize your onboarding software. That is why we’ve created cutting-edge software for onboarding new employees that’s both intuitive and streamlined.
HR Cloud is a comprehensive onboarding solution that is redefining best-in-class technology. Intelligent, intuitive, and all-inclusive, we’ve designed our flexible and fully customizable services to support today’s HR and engage the mobile, connected workforce to set the standard in onboarding processes.