How you onboard new team members is critical for many things — two of which can cost you greatly.
Can you guess?
1) Retention 2) Compliance
Facts on Onboarding & Retention:
Great employee onboarding can improve employee retention by 82%
If a new hire has a negative onboarding experience, they are 2X more likely to look for other opportunities.
Negative onboarding experiences are happening in 88% of organizations
58% of organizations focus on processes and paperwork rather than focusing on the employee’s initial experience.
The average onboarding experience consists of 54 activities that a new hire must complete. I’m not sure about you but the last time I got excited about sitting down and hand signing document after document was never. How long does an employee spend doing this during onboarding? How can you get to learning, company culture, meeting and engaging with other team members, and on the way to alignment and productivity faster? A bad onboarding program yields turnover city and during times of The Great Resignation, let’s not be a contributor.
Facts on Onboarding & Compliance:
Securely stored private information – You are collecting socials, bank accounts, etc – How secure is this on paper?
Secure sensitive information – drug screens and background checks.
Everify – Do you do employee team members in multiple states? Do you know which states require everify? Does your onboarding process make it easy to forget to run everify when required?
Frequently miss required employee documentation? Such as collecting two forms of ID? This can be a costly mistake and there is no reason for this to be proctored by a human in 2022.
How about varying payroll taxes… Does your onboarding process connect to your payroll engine?
The list goes on. Onboarding mistakes, poorly stored employee documentation, human error can cost your organization the big bucks even if only starting with #1 on the list.
Our automated onboarding engine is equipped to make compliance a no brainer and our HR consulting team is here to audit your current processes and ensure you’re on the path to compliance.
Reduce new hire turnover and mitigate fines due to onboarding and personnel files with automated onboarding. Don’t stop there! The more manual work, and human hands, you have involved with employee records the bigger the risk for error, security, and noncompliance you are assuming. This can be costly from data breaches to lawsuit settlements to catastrophic losses.
Maximize on your people and drive up your revenue per employee by transforming your HR with technology that will fuse together talent attraction, payroll & HR, workforce (labor) management, and engagement management.