Statistical reports have shown that onboarding the new hire costs about $1500 on average. Moreover, organizations with onboarding tools help retention of new hires by approximately 82% and improve productivity by about 70%. Along with this, about 88% of the employees believe that great onboarding of new employees means doing a great job. In addition, about 69% of the employees with structured onboarding and orientation programs are likely to remain with the company for at least three years.
On the other hand, the market size of workforce management tools between 2022-2028 is worth about USD 4890.7 million as per Global Analysis. This automated tool helps you optimize employee productivity at the workplace and helps forecast labor demand, staff scheduling, time, and attendance.
Benefits of Integrated Employee Onboarding Software
The onboarding of the employees is quite a challenging process and provides stress to both the hiring teams and new hires. This automated software helps you reduce the turnover rates and also helps you to improve the productivity of the team members by about 70%. It also helps you increase new hire retention by approximately 82%.
The benefits or advantages of automated employee onboarding tools are as follows:
Managing Onboarding Activities in One Place
The onboarding process ensures getting up the new hires and helps you speed up on the new job tasks, key details, and company policies. In addition, this automated tool helps you manage the diverse activities in one centralized location, and you are allowed to create checklists that help you guide your new hires through the specified activities.
This tool helps create a database of information per the company’s requirements. It helps you log into the onboarding software and have access to the requirements.
Improved Communication with Important Stakeholders
Communication is an essential tool for employees to receive the best onboarding experience. It helps streamline communication between the new hires and the HR department. It helps you to communicate with the HR department easily, and that helps you with improved communication.
Along with this, it also helps you enable and streamline communication between the managers, peers, and new hires. It also helps your employers to post questions and share information about projects, tasks, and other activities.
Raised Employee Productivity and Engagement
This onboarding tool provides an excellent solution for companies to raise employee engagement and productivity. The integration of the employee onboarding program helps your new hires to engage and stay productive at the workplace. It helps you increase employee engagement and also helps streamline the employee onboarding process. As a result, it helps you to boost the engagement level of the employees and also helps you simplify the engagement and communication between the new hires, managers, and hiring teams.
Reduced Employee Turnover Rate and Recruitment Costs
The employee turnover rate is quite a costly method that companies have to face. Reports have shown that about 90%-200% of the company’s annual salary includes employee costs. The turnover rate is high in the initial days, and the average turnover rate is approximately 31% in the six months of their joining.
Streamlining Hiring Process
This automated tool helps you streamline the hiring process of employees. In addition, it helps you to educate and bring new hires into the team. As a result, it helps you to make the hiring process easy and effective. As a result, it allows you to streamline your hiring process, and this tool helps you make the hiring process efficient.
Along with this, it helps you to simplify the hiring process and job application. It also helps you simplify the process of hiring. In addition, this software helps the hiring teams collaborate, track, and manage the candidates throughout the hiring process.
Improved Culture and Relationship with Employees
This automated tool helps you improve the relationships and culture with the employees. Along with this, the software helps you navigate the new job tasks that help you make the company policies fast. It enables you to devote time to building and nurturing employee relationships. It helps you to speed up the new tasks and responsibilities with the employees. Along with this, it helps you promote the organization’s good culture and improve the relationships with the employees.
Reduced Paperwork for Employees and Managers
The manual tool takes much time to fill out the documents and helps you complete the tasks. On the other hand, this automated tool helps you prevent paper-based forms with digital ones. In addition, this automated tool helps you automate tasks such as setting up payroll and creating employee handbooks.
Creating Excellent 1st Impression
This automated tool helps create a great 1st impression for the new hires. It helps you create an excellent impression for the new hires. It also provides your company with a personalized onboarding experience for each new hire. Along with this, the software includes everything from documentation to making videos that help your new hires learn more from the company. As a result, it helps new hires stay more prepared for their new job roles.
Why is Workforce Management Software Beneficial to Your Company?
The automated tool for managing the workforce helps you better understand the team functionalities switch inclusion of teamwork, cohesion, and engagement. It helps you identify the inefficiencies and also helps you to form teams to work together as a team. In addition, the centralized platform helps you automate everyday HR activities to accomplish diverse workforce management tasks accordingly.
The advantages of workforce management tools are enlisted as follows:
Less Dependency on Paperwork
This unified tool helps you automate HR workflows from recruitment to onboarding and facilitates you to upload and access workforce data. In addition, the software allows you to store data in the cloud and reduce dependency on paper documents. As a result, it helps you conduct important HR activities from any location and access necessary forms and policies.
Less Data Duplication and Manual Entry
After setting up the profile for each employee in your unified system, it helps you add and change the information without any information duplication. Moreover, it facilitates your candidates to add or remove information to the existing profiles without reentering information like demographic and contact details.
Consolidated Reporting
This unified tool helps you pull together reporting elements as you store workforce data in multiple systems. It helps you to develop a comprehensive picture of the employees and use information like location, manager, compensation, and straining participation. Along with this, it also helps you support the use of data in better making of decisions and also enables you to provide managers with information to know about the teams.
Consistency in Updates
This unified tool stores information to join, terminate and change the data and information while they make changes in one place rather than in the HR and payroll systems. This software helps you to save costs and time and cut down on errors, and it also helps you deliver assurance regarding conflicting information. As a result, it helps you with improved and consistent updates.
Better Communication Between Payroll and HR Functionalities
As you have new hires within the company, keeping communication between the HR functionalities and payroll is essential. This unified tool helps you simplify the process by integrating payroll and HR data into one system. It, therefore, prevents miscommunication or communication gaps at the workplace. In addition, it also helps you prevent data loss and information in the translation.
Improved Compliance
This automated tool enables you to pull data from a single platform, and that helps you create accurate and precise reports and meet compliance requirements. For example, per ACA reports, companies must report on the full-time status and the number of employees receiving the company’s healthcare benefits.
Better Experience of Employees
As per 2020’s Future Workplace survey, the HR leaders found it interesting to improve employee experience as the critical initiative of the year. In addition, this software helps you support a better employee experience by putting payroll and benefits information in the employees’ hands.
Fewer Occurrences of Errors
The unified tool helps you cut down on the errors that are distracting and frustrating for each one involved in the workplace. Along with this, the time, attendance, and payroll benefits are integrated into one unified platform, which helps you cut down on the errors like incorrect paychecks.
In-depth Insights into Your Workforce
The centralized, Automated Software helps you to understand the workforce better and see the activities and programs driving the best ROI. The unified and robust dashboards and reporting allow you to track workforce success and understand the trends in the areas like turnover and hiring. It also helps you understand trends like turnover and hiring, which helps you provide insights into the workforce.
Elevated HR Reputation
It is hard to have multiple and disconnected payrolls and HR systems, which makes it difficult to provide timely and actionable data to business leaders. This automated tool helps you build a positive reputation for efficiency and accuracy to provide a reliable and unified system for managing the workforce.
To Conclude
This employee onboarding tool helps you improve communication with key stakeholders. It helps you reduce turnover rate, improves relationships with the employees, and helps you streamline your onboarding process. Moreover, it also helps you to automate the onboarding process by creating checklists of the new hires and hiring them accordingly.
The automated tool for managing the workforce within the organization helps improve employee productivity, better labor planning, adequate time and attendance tracking, lower operational cost, and better customer services. Moreover, it helps improve employee growth and development at the workplace.
