How onboarding impacts your company
Induction and onboarding are both ways to get new hires familiarized with the organization and its work culture. While induction is about orientating the new employee intensely for the first couple of days, onboarding is a much longer process that requires special attention from any HR department. When organizations carefully design their onboarding processes, it is shown that new recruits feel valued, it raises their morale and integration quicker, and they are more productive.
The importance of onboarding
The onboarding process is about giving new hires a sense of belonging and embedding them in the culture so they can understand how to behave in the organization. If this process isn’t done right, it is common that the new employee feels isolated or unvalued and therefore leaves the company.
Considering that the onboarding process takes at least 3 months, onboarding has become a valuable asset to retain employees and reduce turnover in the long run.
Organizations tend to put systems in place to get the new hire integrated and accepted as soon as possible. Broadly speaking, there are two methods companies tend to use in their onboarding process for this to happen:
- Mentoring: allocating a colleague to serve as a role model, normally in a senior position.
Buddy approach: allocating a colleague from a same role level to not only to teach them, but also to introduce and be their friends to form social relationships.
Benefits of good onboarding
Some of the benefits of good onboarding are that the new hire:
- Settles and integrates into their team quickly
- Understands the organization’s values and culture
- Becomes productive quickly and works to their highest potential
- Feels respected and valued
In terms of direct company benefits, good onboarding also:
- Improves retention
- Saves time and money
- Provides all the necessary information
Saving on onboarding costs
Onboarding is not as expensive as you may think. While the cost of filling up a position according to SHRM, is $4,425; the hours managers spend on training costs companies an average of $1,252 per hire, and onboarding paperwork is takes up 10 hours of HR time.
However, these costs could even be lower with the use of an HR software. How? Let us break it down for you:
- Automated onboarding process: automating the different stages of the onboarding process and visualizing at which stage the new hire is at, helps predict when the new hire is most likely to start being more productive and makes sure that the process is being carried out as planned.
- Digital document management and e-signature: an HR software which uses an electronic signature and lets you manage documents in just a few clicks will help you bring down time spent on paperwork to the bare minimum.
- Internal communication and training: easier access to a training library of content and internal communication channels will not only help your new hire feel part of the company sooner, but also will make him feel engaged and learn faster.
If you are looking for an HR software that includes all of these tools, look no further: niikiis is the all-in-one HR software that will help you take your new hires experience to a higher level. To learn about how to automate your onboarding process, manage your documents and use the e-signature and much more, request a free demo and we will show you all there is to know. All it takes is just a few clicks!