Employee Retention can be enhanced with Smarter Onboarding Strategies with HRMS: Study by uKnowva
HRMS provider, uKnowva recently released a report on ‘Improving Employee Retention with Remote Onboarding’ describing the importance of employee retention and how it aligns with the remote hiring and onboarding process. It studied that great employee onboarding strategies can improve employee retention by 82% and productivity by 70%. Additionally, digital onboarding through HRMS makes HR professionals more capable and less dependent on paperwork.
In the era of rapid digital transformation when chosen for a certain position, employees demand more from their employers. They wouldn’t remain there any longer merely for financial advantages. It is necessary to put into practice, redefine, and improve upon the more intelligent onboarding tactics. In the present-day business landscape, one of the biggest issues HR leaders and teams have to deal with is employee retention. After the pandemic, the issue of employee retention has gained even more importance. Reimagining Work and Rewards, a study conducted by Willis Towers Watson in July 2022, found that 85% of the survey organisations acknowledged having trouble attracting and retaining top talent. Additionally, 78% of them said they were having trouble optimising their talent acquisition experiences and 54% are unclear about their career path & promotion.
“Onboarding is oftentimes an overlooked part of the employment lifecycle that can show incredible returns if done in the right way. A thorough employee onboarding process has a far better return on investment than most businesses are aware of. In fact, a report by Glassdoor shows that smarter recruitment and onboarding strategies improve employee retention by 82 percent. Additionally, a company no longer needs to use the offline or conventional employment process to find, scout and onboard the best talent in the age of digitisation. Digital onboarding has arrived. The vast majority of the global hiring market has already been absorbed by it. With employee expectations changing drastically every 3-6 months, HRMS becomes a smarter choice for HR recruiters to redefine their digital or online onboarding approaches and that’s what we have highlighted in the whitepaper. From the first day of employment until the last, employers must give new and current employees the proper support” said Mr Vicky Jain, CEO and Co-Founder of uKnowva, India’s smartest HRMS platform.
When businesses use the right technological tools, like HRMS, they get an added advantage. There are many cutting-edge features in these tools and a lot of them are also completely customisable and scalable. As a result, businesses can continue to expand without worrying about developing every talent from the very beginning to the very end of their employment career.
“Another advantage of digital onboarding becoming the new normal in recruiting space is that it boosts Diversity, Equity, and Inclusion (DEI) in the company culture. It eliminates the scope of favouritism, bias, neglect, or frivolous attitude. The system does not retire or face fatigue. It always recommends the best candidate as per the keywords and key phrases to the recruitment manager. A system like the uKnowva HRMS has the ESS portal, which includes a helpdesk and a comprehensive employee directory. Additionally, it contains a panel for timely uploading business policies. All employees will then be aware of the right policy for a positive workplace environment. Employees know everything from their first assignments to the detailed project reports on the HRMS. As a result, they are equipped from the start of their employment to communicate with their team leaders or other team members. Furthermore, the backend’s analytical insights are constantly beneficial for the team leader and the company. They are aware of who in the team is the most satisfied, joyful, engaged or unhappy. Based on current and previous reports, the data is real-time. They can therefore start by continuously refining their onboarding techniques” added Vicky Jain.
