Ineffective onboarding is tied directly to the decision to quit in at least 15 percent of employees. This leads not only to a waste of employees, but also to a waste of time. And money. And efficiency. And…
OK, let’s dive a bit deeper into this issue to finally overcome it.
Why is it so important to hire and onboard quickly? (Spoiler – it’s all about the money)
- Based on nearly 84,000 interview reviews, Glassdoor found that the average time it took to hire a new employee was almost 24 days in 2017.
- For a firm like Amazon, if their hiring department were to take 10 more additional days to acquire human capital, on-the-job performance would drop by 10%. A 10% drop in its average revenue per employee of $750,000 would mean a loss of $75,000 for every new hire. And let’s be fair, your average revenue per employee is likely not the same as Amazon’s. But this also means that you won’t be able to bounce back as quickly from your monetary loss.
- The Society for Human Resource Management estimates that employers will spend the equivalent of half to three-quarters of an employee’s yearly salary hiring and training their replacement.
- The recruiting and onboarding pros at iCMIS found turnover is three times higher for new employees who are onboarded manually, than for those who are onboarded with automation. iCMIS also says that a good employee onboarding program can reduce turnover from 44 percent to as little as 14 percent—all while getting new hires to be 33 percent more productive.
And yes, this is just too outdated: spending about two hours customizing and printing employee onboarding paperwork, initiating the completion process, and double checking and reentering all that information into company databases and systems.
Now, it’s time to hire Gen Z newbies, and these guys will never wait until such a tiresome hiring process comes to an end. They’re used to automation. With onboarding workflow automation, that same worker could spend just 15 minutes onboarding new hires with templates, automations, and smart technology that enables auto-filling, conditional formatting, and routing data straight from forms to databases—no manual data (re)entry required.
At an estimated savings of 1.75 hours per each 100 new hires, automated onboarding can save your HR team 175 hours of labor per year!
Speed up and automate the hiring process with the following components
Usually the hiring process involves too many steps and too much red tape.
Don’t add steps – compress them.
- Organize your interviews by two components: Establish a set (but limited) number of interviews per a particular period of time, and schedule interviews on the same day/days of every week/month.
- Eliminate scheduling pitfalls by digitally conducting interviews. Let’s face it – your potential employees may not live on the same street corner of your business, and travel issues may cause interview delays. If distance is an issue, embrace mobility in order to manage interviews (or at least partially) from your Android or iOS devices.
- Reduce the mess by ditching the paperwork. Collecting all of the necessary documents, waiting for the candidate to scan/print them and then meeting in-person – this is a colossal waste of time. Opt for a fully-digital, mobile-friendly workflow that fits seamlessly into your talent acquisition process.
- Speed up the onboarding process with the right digital tools. Integrating a new employee into an organization may take days and even weeks. Make it short and sweet by switching from manual to digital document processing.
How SignNow can help you with hiring and onboarding automation
SignNow provides users with plenty of features, such as sending documents for e-signature, creating documents and templates, and adding fillable fields with advanced options. SignNow also offers team collaboration features, high-level security options and many others.
With SignNow, new employees can confirm consent by providing e-signatures and quickly completing necessary paperwork before their official start date.
By going paperless, HR departments will have all required documents and forms saved electronically, and quickly available for archiving or review.
With SignNow’s e-signature software, you only need to sign once. Organizations can keep moving with a one-time entry solution – SignNow allows users to enter their electronic signature once, and then be guided to automatically add that signature to any required signing fields.
SignNow ensures e-signature validity. SignNow is backed by SOC 2 Type II Certification, which ensures the security and validity of e-signatures globally. Learn more about SignNow’s security features HERE.
Make your hiring smooth and efficient. Create customized templates, digitally sign documents and obtain necessary signatures, go mobile, protect sensitive data and stay organized on all levels of the recruitment process.