There are a lot of options and possibilities when it comes to your employee onboarding process. Seemingly, innovation in technology is at the forefront of all that we do both personally and professionally. With information available at the touch of a button, the speed of technology creates a race for companies to gain a competitive edge. The latest trends will be upgraded in 6 months, and the organizations who can’t adjust on the fly will get left behind. The fallout on businesses who don’t keep up with the technological advancement includes lack of engagement and productivity, high employee turnover rates, and an inconsistent bottom line of profitability.
With the many solutions, and the rapid rate at which they change, we find some of the biggest obstacles in proper employee onboarding consistently revolve around The 3 Big Cs: Consistency, Compliance, and Cost.
CONSISTENT AND COMPLIANT ONBOARDING IMPACTS RETENTION
According to a 2007 study by the Wynhurst Group, when employees go through structured onboarding, they are 58% more likely to remain with the organization after three years.
Effective onboarding requires a system that locks-in your process, guaranteeing that the experience is the same for each new employee, as well as any leader involved in the process. Of course, there is always room for evaluation and adjusting the process, but a solid onboarding process assures quality and consistency throughout. To put it simply, your onboarding process needs to be able to accomplish the same thing, over and over again, providing you efficiency and consistency.
With new regulations consistently being rolled out on both the state and national levels, it’s critical that your onboarding process provides the necessary steps and “fail-safes” to assure compliance. No matter the size of your company, failing to maintain compliance on anything from E-verify Verification, to Background Checks, to Visa Management and more, can bring on costly fines to your business.
WHAT ABOUT THE MONEY?
If you’re currently looking for, or are using digital solutions in your employee onboarding process, you know the cost can build quickly. There are 3 standard methods to building your onboarding process, using technology driven solutions:
- Purchase individual solutions that can be “pieced” together to support your specific needs. This method allows you to save some money, but doesn’t always deliver on efficiency, as you have to “jump” from one solution to the others, in order to accomplish your tasks. This method can actually end up taking more time in the long run, as you have to keep up with the various providers, updates, and processes for each solution.
- Purchase a complete onboarding platform that has almost everything that you need…and much more…that you have to pay for. These solutions are more like mass production programs that try to catch as many businesses as they can. The challenge is that the cost can be tremendous, as you are required to pay for functions that you don’t need. It’s like buying a Bentley, when all you need is a Mercedes, or maybe even a Ford. The customization and individualization needed for your ultimate success and proficiency is not present in many of these solutions.
- Purchase an onboarding platform that provides the specific requirements for you and your business. These rare, purple squirrel platforms, provide you many bolt-on options, and a customization experience designed to give you exactly what you need…in consideration with YOUR budget.
It’s difficult to deny the power of effective onboarding, but businesses also face the real challenges of budget limits. Some onboarding processes are pieced together, using various components that carry out specific HR functions. Other platforms come like a car off the assembly line, you might be able to pick your color, but they essentially have all the same components.
We’ve built an all-encompassing system with our Xenqu platform that allows you to customize your process, therefore eliminating the requirement to pay for elements that you don’t need. Our fleet of intelligent robots answers your need for consistency, compliance, and cost. By addressing the 3 Big C obstacles, we can help you develop a customized and affordable process that brings engagement, productivity, and retention of your top talent.