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How to Save Money in your New Hire Onboarding Process
By Chuck Ros of Emerald Software Group
If you work in HR, you’ve no doubt used one of those neat little turnover cost calculators. Your monthly expense for hiring replacement employees can be shocking - especially if you work for a large company or one with a high churn rate. What can you do (besides improving retention) to combat these costs? One answer is to speed up the individual transactions involved in onboarding new employees. Typically, your staff must gather forms, prepare the job offer letter, and send all this paperwork to the employee. The new hire has to spend time filling everything out. HR then performs the tedious task of double checking everything and entering the information into the system. Just the transactional onboarding process described here can cost over $100 per employee. A “transactional” onboarding system cuts these costs substantially by presenting your new hire documents in an online format. Simply email the prospective employee an offer letter and a login to complete (and electronically sign) all the required forms. Redundant information populates from one field to the next so the employee never has to fill out the same data twice. Built-in safeguards prevent the new hire from moving to the next screen until all the fields are completed properly. The software program automatically distributes the information on these forms to HR, your third party vendors, and government agencies depending on your business rules. Imagine never having to chase down another new hire form ever again. That saves time, money, and your sanity!
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Quite an eye-opening intel for someone who never was in HR. It makes workers feel like so much more of an item on an assembly line.
CONTRIBUTOR'S REPLY
Quite the contrary, Brad. Our clients have used our system to gather the employment forms for 10s of thousands of employees. We've never seen a single employee satisfaction survey that didn't think the system was a much more engaging and enjoyable process than filling out forms by hand. Having a system to automate this tedium always gives a new employee a great impression of their new company. An analogy: once you use TurboTax to complete your taxes, you'll almost certainly never want to fill out a tax return by hand; once an employee has used our system to fill out their employment forms, they'll wonder why every employer doesn't do it similarly.
Very helpful information. I mentioned this Intel in my Twitter this morning
The copyright for this content entitled "How to Save Money in your New Hire Onboarding Process" has been specified by the contributor as:
Creative Commons Attribution-Share Alike 3.0
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This content may be copied, distributed, and modified, as long as a) the original author is acknowledged with a link back to the content page, and b) if the work is modified, the result is distributed with this same license.
If you use this content according to the license specified, you must link to the following URL:
http://chuckros.qondio.com/
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