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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
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”
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.
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
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
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