Should Your Company Invest in Onboarding Software?
YES! The answer is an emphatic “YES!” The exorbitant cost of replacing personnel is why retention is such a significant KPI in business.
Retained professionals represent a fantastic return on the many costs that employers put into their staff, and onboarding is a crucial but frequently neglected part of those investments. See the best applicant tracking system online here.
According to a recent survey, 70 percent of industry-average onboarding programs result in users returning, while 30% of laggard programs do. -> According to a recent poll, 70 percent of industry-average onboarding programs result in customers returning, whereas 30% of lagging programs do.
So, to summarize, we can see that it is not enough to simply have an onboarding program. Employers must invest in the quality of the program in order to achieve outcomes such as increased engagement and retention.
With turnover rates increasing in nearly every industry, organizations can no longer afford to overlook the value of an effective onboarding program. Those retention statistics should serve as a wake-up call to the significance of investing in onboarding as a strong retention strategy.
Check out Agile Onboarding Software
We’re not just talking about investments now. The greatest investment a company’s executives can make in their staff is with their own time and leadership.
Invest in the Right Technology to Reduce Costs
There are some remarkable onboarding technologies available right now that can assist organizations in completing their compliance processes while also focusing on the social and cultural aspects of onboarding.
Yes, documents must be signed and collected, the handbook must be covered, and compliance must be maintained. Those are the secondary concerns of a successful onboarding that takes over the rest of the process if suitable tools aren’t accessible.
Attraction and retention are on the minds of company executives all over the world right now. In a survey conducted by HireRight, 52 percent of respondents said that recruiting and retaining talent was their major business problem.
Organizational efforts to boost employee engagement and attrition rates necessitate early investment in talent. Strategic onboarding is one of the most effective tools available to employers to generate faster output, establish the value of their employees, and build strong professional relationships at work.
The resources a firm invests in onboarding are almost always positive return on investment. Onboarding is a well-known retention strategy that CEOs must consider to achieve and maintain their talent goals, employer brand, and productivity needs.