With the business landscape becoming more complex by the day, and the war for talented employees at an all-time high, organizations are evaluating ways to maintain their competitive edge. One strategy that many organizations are gravitating towards – improving the employee onboarding process.
According to a study by the Impact Instruction Group, “onboarding is a major priority for nearly two-thirds of respondents. They are in the process of updating their programs, with a desire to build loyalty and accelerate performance early on, and ultimately improve overall retention.”
Why are so many organizations focusing on improving their onboarding programs?
Poor onboarding leads to higher employee turnover and turnover is expensive. Plus, according to a study from the Society for Human Resource Management (SHRM), effective onboarding programs have been proven to increase employee retention by 25 percent and improve employee performance by more than 10 percent.
This trend creates a unique opportunity for Benefit Brokers and Financial Advisors. Clients already recognize the value that brokers and advisors provide in terms of service and advice. A great way to further stand out among the competition is to provide the tools that help address a key need – such as improving employee onboarding.
Paylocity’s Onboarding feature provides a simple and engaging way for new hires, administrators, and supervisors to participate in the onboarding process. Brokers and Advisors can help their clients reduce the time it takes internal administrators to collect and enter data and improve the experience for every new hire.
Not only does new-hire information flow seamlessly to Web Pay and Advanced HR but administrators can also set up workflows to notify other parts of the organization that may be involved with new hires. For instance, once a new hire completes their onboarding module, IT can be sent an automated email requesting the new hire’s computer be ordered and set up.
Paylocity’s Onboarding feature is also mobile-responsive, which means it functions beautifully on a laptop, desktop, phone or tablet. A new hire, likely busy finishing up a current job, or possibly even relocating, may not have time to sit down in front of a computer to complete important paperwork. An organization can make a great first impression by making all the new hire paperwork easy to complete on any device, anywhere.
To learn more about how your clients can immediately benefit from Paylocity’s Onboarding feature, click here.