Onboarding: The Key To Launching Talent · Simple & Repeatable Onboarding Processes Streamline the...

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Onboarding: The Key To Launching Talent Christine Chriscoe, SilkRoad technology Michelle Strader, SPHR, RCC, Silverpop Systems, Inc.

Transcript of Onboarding: The Key To Launching Talent · Simple & Repeatable Onboarding Processes Streamline the...

Onboarding:

The Key To Launching Talent

Christine Chriscoe, SilkRoad technology

Michelle Strader, SPHR, RCC, Silverpop

Systems, Inc.

Session Topic

o What and Why of Onboarding

o Formalize Your Onboarding Process

o Leverage Technology

o Customer Examples

o Next Steps

Onboarding Defined

Strategic process designed to attract new

employees, reaffirm their employment decision,

acclimate them into the organization's culture,

and prepare them to contribute to a desired level

as quickly as possible. Aberdeen Group

What are Your Onboarding Goals?

Why is Onboarding Important?

• The cost of attracting talent approaches 30% of a new hire’s annual

salary.

• Companies experience approximately 13% attrition of new hires in

the first year.

• “Regrettable” attrition (productive recruits with great prospects who

choose to leave) as opposed to

• “Non-regrettable” attrition (unproductive and low prospect workers

leaving the firm).

• Opportunity costs of regrettable attrition (30% salary + Cost of “Lost

Results”

Onboarding Experience

Where Are Most Firms Today?

• 80% or more of medium and large businesses have

onboarding processes that are:

– Tedious and paper based,

– Require multiple steps of manual administration,

– Are deployed across the enterprise in inconsistent ways,

– Lead to haphazard and wasteful outcomes,

– Inefficiently deploy resources challenging new hire readiness,

and create

– Frustrating experiences for new hires and hiring managers.

Onboarding Process Framework

Start Before Day 1

Make it Interactive and Fun!

Socialization Extend it

Beyond Day 1

Assign a Mentor

Get the Manager Involved

Measure the Impact

Automate the process

Source: Creating an Onboarding Process

a SilkRoad technology eBook

First Steps: Tactical Onboarding

• Decrease time and

money spent on new

hires

• Eliminate

administration of

paper-based forms

• Reduced time in

orientation

Strategic Onboarding Objectives

o Retaining more of the people you want to keep

o Reducing the proportion of your head count loss that is made up of regrettable attrition

o Improving short-term … getting new hires up to productivity levels faster

o Improving long-term productivity … retaining those key employees who’s contributions are significant

o Engaging high potentials, high performers (and others)

o Helps new hires connect with the organization’s larger objectives

o Provides employees with a sense of “fitting in” at work

A study of professional services firms found that

offices with engaged workers were over 40% more productive.

Strategic Onboarding Yields Business

Results

Get Engaged!

Successfully

OnBoarding

employees during

their first year of

service increases

engagement and can

raises retention by as

much as 25 percent.

25%

60% Greater year-over-year Improvement in revenue per FTE. Organizations with a formal Onboarding process. –Aberdeen

Percentage of

new employees

who are

"highly

engaged"

Percentage of

new employees

"exceeding"

performance

expectations

Percentage of new

employees

achieving first

performance

milestones on

time

Onboarding Drives Greater Results

Effective Onboarding Reduces Time to

Full Productivity

Simple & Repeatable Onboarding

Processes

Streamline the onboarding process • Significantly reduce administrative burden • Automate task workflow through an easy point and click interface • Provide quick and easy visibility into all onboarding tasks • Electronic forms eliminate errors and speed completion

Reduce hard and soft costs • Reduce costs associated with administrative tasks, paperwork and processing • Electronic signature functionality for new and transitioning employees • Eliminate duplicate data entry, postage & printing costs • Accelerate new hire time to productivity

Increase employee engagement • Provide multiple easy to use personalized new hire portals • Deliver the right information to the right person at the right time • Self-manage content and create new portals without vendor interference • Electronic completion of all new hire paperwork prior to the first day on the job

Onboarding Technology at Silverpop

o New Employee Portal

o Onboarding Coordinator/Administrator View

o Hiring Manager/Internal Associate View

Customer Examples &

Results

Welcome From CEO

Global Content & Languages

Customer Results

Success Story

World leading designer,

manufacturer and distributor of emission

and ride control systems for transportation.

Fortune 500:

22,000 employees, $6.0B+ in revenue,

100+ locations.

Business Overview

Eliminated 95% of Paper and Faxes

Utilize for Post-Hire Activities

Average Savings Per Hire = $1,135.00

SilkRoad RedCarpet Results

Day One Readiness

Manual Process Paper-Driven

Inconsistent Global Standards Poor Engagement

Challenges

Next Steps

First Impression

Focus on the right things…

Q&A