One of the most expensive tasks of Human Resources is recruiting and retaining employees. According to an often-quoted study by the Society for Human Resource Management, employers will spend the equivalent of six to nine months of an employee’s salary to replace them. In addition to the cost of advertising and filling positions, training and lost productivity can be expensive. Keeping good employees for longer can reduce the need for costly hiring processes.

The onboarding process can lower costs by ensuring a higher level of retention.  According to one study, 69% of employees are more likely to stay for three or more years after a great onboarding experience.  Among the other goals of an effective onboarding process are to

• Reinforce the employee’s choice to work for your company
• Communicate the company’s corporate culture and expectations
• Create a plan for the employee’s growth and development within the company and
• Confirm that all required paper work is completed and complies with legal requirements

How a Human Capital Management (HCM) system can create a successful onboarding process? An integrated HCM system can move applicant data collected during the recruiting process into the employee database automatically when the final candidate is selected. In addition,

• Keying errors that result in inaccurate address, Social Security number, job and pay information are eliminated
• Communication with the new employee is automated and includes built-in, customized checklists of online documents to be completed prior to the first day of work like benefit enrollment, I-9 and W-4 forms
• Links to handbook acknowledgements and other agreements assure that the company’s expectations are clear from the outset, minimizing possible confusion about the new position
• Links to social media like Twitter and LinkedIn, as well as internal Employee Self Service create a welcoming environment and help get employees up to speed on company goals

For more information about how your company can make your employee onboarding process more effective, contact your Net at Work Account Manager or visit www.netatwork.com

Register for our Informational Live Webinar:

Electronic Onboarding: How to Go Paperless With Your Hiring Process| August 2 & 22, 2017