In an eye-opening report, “Onboarding New Employees: Maximizing Success,” the SHRM Foundation revealed some of the hidden costs of failed onboarding:
- The costs of a single failed executive-level manager can be as high as $2.7 million57
- 37% of global executives say the onboarding they experienced was poor58
With the high costs of onboarding, it is important for an organization to get it right.
Online onboarding software is an effective tool in socializing new hires to your organization. The structured system sets the tone of efficiency and productivity. New hire forms are located in one place and the highly intuitive system guides the new hire through completing and electronically signing each one. The new hire can be confident that he/she has sufficiently completed what was required of the assignment.
In addition, onboarding software is an opportunity to let your company spirit shine. Many companies customize an onboarding system to include a Welcome Letter and a Welcome Video to warmly welcome the new hire even before they have arrived for Day 1 on the job. Be sure to comply with applicable wage and hours laws where employees are permitted to complete this process outside of working hours.
Experience matters, learn how to enhance your onboarding system and sign up for a free demo.