Best In Class Onboarding Stats
The folks over at Aberdeen have a very informative slideshow up on the web (courtesy of our friends at iCIMS) regarding the benefits of implementing best-in-class onboarding. It offers a decent template for the types of improvements you should be measuring in developing your own new hire program. The percentages displayed for cost savings, decrease in time to productivity, employee engagement, and new hire retention are a striking example of how top notch onboarding processes pay off.
There is also documented evidence that customer satisfaction is linked to how effectively new hires are integrated into a company. It’s definitely a data set the decision makers at your company should see if they are hesitant to invest in onboarding solutions.
Making the Correct Software Choice Is Critical
Implementing agile software to replace manual processes is obviously a big part of the puzzle when it comes to making your company a contender for a Best in Class onboarding title. Your selection in this area impacts everything from risk reduction to labor and other cost savings. For example, Universal Onboarding from Emerald Software Group not only enforces compliance rules but reduces the time involved in forms completion by 75% or more. This isn’t just about moving forms online. It also involves reviewing the business processes and workflow surrounding onboarding to ensure that the strategic objectives of HR and each department receiving a new hire are met.
Technology Doesn’t Solve Everything – But It Helps
There has to be buy-in both before and after the transactional stage for the best results. According to the slideshow data, over 65% of best-in-class companies begin onboarding before the first day of work. This can include acculturation and transactional onboarding if these modules are administered online in a format that is readily accessible to new hires on a home computer. Then, there is plenty of follow up including informal reviews and mentoring. Acculturation can also involve directly measurable activities such as participation in a company’s intranet based social networking platform.
You might be thinking “Yeah, but that slideshow is all about Aberdeen’s numbers.” Fortunately, you can see ours too since we take the time to perform in-depth case studies with our clients. We have several examples on our site, like this one, that demonstrate why Universal Onboarding is a Best of Breed solution for Best in Class clients.