Often, speeding through onboarding and training seems like a wise move for companies. The faster you bring an employee up to speed, the more productive they’ll be, right? Wrong. In fact, failing to onboard and train employees can result in significant losses to your company.
But this doesn’t mean companies have to sacrifice efficiency for effectiveness. In fact, Ceipal provides onboarding software solutions that give you the best of both worlds.
Cost & Opportunity Cost
On average, onboarding and training a new employee costs around $2,000. But there’s also an associated opportunity cost. It takes about 1-2 years for a new employee to become “fully productive.” That means for up to 24 months, your company is operating at sub-par productivity. And if that employee is trained poorly, those 24 months could turn into 36, 48, and on.
High Turnover Rates
Almost 50% of all employee turnovers happen within their first six months at the company—the exact window for onboarding and training. That means almost 1 in every 2 employees will leave your company due to a poor onboarding or training experience. This is huge, as every employee turnover costs anywhere from $8,000 to $15,000. Then, there’s the expense of going through the entire hiring process again with the next new hire.
Exposure to Risk
Unorganized or poorly managed onboarding has farther-reaching repercussions than unhappy employees. When not executed well, onboarding can leave your company open to hidden risks. Sloppily conducted background checks can lead to worker misclassification, or worse, vulnerability to malicious actors who may compromise your cybersecurity.
Personalized & Streamlined Onboarding
Clearly, onboarding needs to be done carefully—and done right—if companies want to get the most from their new hires. But this doesn’t mean onboarding has to be done inefficiently.
With the right tools, your company can equip new hires with the information needed for success while engaging your workforce from day one. At Ceipal, we’ve dedicated an entire portion of our platform to onboarding and training to help you through the process.
The Ceipal Solution
Streamlined Paperless Onboarding
Ceipal’s eBoarding portal is completely paperless. From within the Ceipal platform, recruiters can create documents, collect information, create PAFs, and manage legal documents. The eBoarding portal will automatically populate fields with information from your database, saving time otherwise wasted on manual data entry. What’s more, the onboarding software solutions update in real-time, so you can instantly track your new hire’s progress.
Engage new hires from their first day on the job. With Ceipal, every new hire receives an onboarding portal personalized for them. Brand this portal with your company logo, mission statement, welcome videos, and any other relevant training material so your hires have access to essential company resources from their first minute on the job.
Vet new hires and defend your company against cyber threats. As a SOC 2 Certified software, Ceipal provides its customers with the highest level of cybersecurity. Within Ceipal, all data is protected with multi-layered security control. The platform also ensures all new employees are in compliance with Ceipal’s proprietary e-Sign and timestamp capturing. Plus, candidates are given secure logins to complete the onboarding process, allowing them to share sensitive documents safely.