Better onboarding could save UK businesses £200 million a year

A focus on efficient and effective onboarding could save UK businesses up to £200 million a year, according to research by webonboarding.

Research uncovered the hidden cost of onboarding as £195 per onboardee, on top of the average recruitment expenses.

Even when businesses recruit relatively small numbers of employees, these costs soon mount up. For businesses who need to recruit large numbers of employees on seasonal, temporary and fixed term contracts, the costs are multiplied many times over.

Nearly a quarter (24%) of HR decision makers’ time is also allocated to the onboarding process. Despite all the money and time spent, 27% of employees who leave in their first year, leave within their induction period, before a business can expect to see a return on that investment.

Webonboarding will be sharing their findings and demonstrating how the latest cloud technology can help save UK businesses time and money in a free learning session at the annual CIPD HR and Recruitment Software show at London’s Olympia on 14th and 15th June.

Designed and developed by the people who brought you webexpenses software, webonboarding automates the whole onboarding process to deliver greater efficiency, reduce time and money costs, and provides an improved experience for both HR functions and onboardees.

Using the latest in cloud technology, the software helps to reduce inefficiencies by automating many of the manual processes involved in processing and chasing information during onboarding.

This is a big resource issue for businesses, with more than two thirds (69%) of HR professionals saying that chasing up successful candidates to return completed or missing documentation was a drain on their time.

Melanie Guy, HR Manager of webexpenses, says:

“Our research shows that there are clear inefficiencies throughout the onboarding process that HR managers and the wider business need to address, in order to attract and retain talent. If businesses are to succeed, particularly in the current unpredictable climate, they need to ensure their processes are as accurate and efficient as possible.”
“The webonboarding technology enables businesses to expedite the process and reduce the number of inaccuracies which can often lead to costly issues later down the line.”

By raising awareness of the often hidden costs of onboarding, and offering the very latest in onboarding technology as a solution, webonboarding helps HR managers onboard more effectively and accurately.

By automating and standardising many of the administrative tasks involved, webonboarding can turn a costly and inefficient process into a positive experience and help UK businesses save time and money.

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Webonboarding are delivering their learning session at the annual CIPD HR and Recruitment software show:

– Olympia, London
– Thursday 15th June
– 13:30 – 14:00
– Recruitment Arena

They are also talking about best practice employee onboarding and showcasing the latest version of their software at stand R138

For more details please contact contact.us@webonboarding.com

Find out more about the event here: http://www2.cipd.co.uk/events/hrss-recex/exhibition/free-learning-timetable.aspx