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Advanced Onboarding and Productivity: Why You Need to Rethink Your Current HCM Approach
There is a plethora of information regarding onboarding and its consequent benefits. In fact, most companies thrive through onboarding. According to reports, companies that do not apply onboarding process in their business strategy end up using up 150 percent of their revenue to retain unproductive employees.
Through onboarding, a firm can increase employee retention, reduce the production time and build a strong ROI. Advanced or sophisticated onboarding has many advantages as opposed to poor and non-existent onboarding processes that are filling the market today.
Here are some of the significant benefits of using advanced onboarding:
1. Efficiency by automation
When a company implements the Oracle Human Capital Management component on onboarding, then it is sure to cut down the costs it uses during hiring. This is because the company will deviate from relying on manually performing the process which would involve gathering and track down completed work and creating employee files. By adopting the process, the companies will reduce the time process by approximately 45 minutes allowing time for other Human resource activities.
2. Lesser time to productivity
Strategic implementation of advanced onboarding will significantly reduce the time a company requires to reach productivity. First, all the manual paperwork will be done away with saving time for the hiring process. Also, advanced onboarding will do away with the unnecessary procedures such as filling of forms and questionnaires and allowing other essential company activities such as training to take place as there is a quick shift to the pre-day 1 activity.
3. Low turn over
Onboarding has a significant effect on the turnover rates. A company will save on costs and the overall revenues through the reduced processing time and little time required for completing the hiring process. The turnover for a company would significantly reduce consistently throughout the year.
4. Better new hire experience
As much as onboarding has a lot of advantages, it needs to be done correctly. Incorrect implementation can result in losses. When done correctly, the new hires will be engaged as they receive a positive experience. Oracle HCM Fusion reports ensures that less time is taken in filling forms that can be time-consuming even before the first day which will ensure that redundancies related to data entry are eliminated, and this will ensure that the ROI is strong.
Let DataTerrain Help with Your Advanced Onboarding Software
When choosing an onboarding company, it is essential to pay attention to the services that the company offers, how they are offered and how efficient they are. Oracle Fusion reports provide comprehensive coverage on what the company does as well as the Oracle Fusion HCM applications that all which maximize a majority of BI tools.
DataTerrain is a leader in the field of Human Capital Management. We have spent years aiding our clients through the extensive use of data analytics and business intelligence tools. Contact us today to see how to propel your organization into the global market.