Over the years, companies have realized the importance of acquiring and retaining dedicated and valuable employees. As a result, businesses of all sizes are investing significant sums of money in Human Resources (HR) onboarding and human capital management processes, including Human Capital Management Software.
To some HR managers, the term ’employee onboarding’ process refers to handling the new hire paperwork. However, the same term can hold a different meaning to other team members. In some cases, employee onboarding refers to the period from the offer release to the time an employee officially becomes a productive member of the organization.
The Importance of Efficiently Onboarding Employees
Keep in mind that employee onboarding is considered the first post-interview interaction between the company and the employee. The efficient onboarding of employees is crucial for the following reasons.
- If the process of employee onboarding does not go as well as you may have liked, your employee may be hesitant to join your company.
- A mediocre employee onboarding process can give your employee a poor impression, resulting in them having and possibly spreading biased notions about your company, and subsequently, quit early.
- You need to have an efficient employee onboard process to help your employees settle into your jobs without a problem, become familiar with your company, and get along with their colleagues.
- An onboarding process that makes employees feel welcome helps them gel with the organization, understand its vision, and perform the best they can.
Considering the number of candidates who apply, filtering them out manually proves to become a tedious and redundant process, which has given birth to the need for HR onboarding software.
HR Onboarding Software
HR onboarding software is a technology that allows employers to facilitate a smooth transition for new hires. An HR onboarding software allows you to focus less on formalities and more on creating ideal first days. It automates the process of completing paperwork.
It also enables you to get electronic signatures with customizable preboarding packages and makes for a hassle-free way to set up new hires with welcome emails and IT checklists.
Features of HR Onboarding Software
Here are some impressive features of HR onboarding software.
Handles New Hire Paperwork
Bringing in a new hire usually means you will have to handle a lot of paperwork. Fortunately, onboarding software allows you to place all documents in one place and carry information from one form to another, thereby reducing the time spent on fixing errors.
Background checks necessary to keep your organization and new hire safe. It is vital to handle background checks appropriately. Background checks can be done with the click of a button using HR onboarding software.
You can expect your team to receive automatic updates once the new hire authorizes the background check, and when the results are ready. Gone are the days of looking for authorizations or internal bottlenecks.
Automation of Workflows
Onboarding software can enable your organization to set up multiple automated workflows to make a one-time setup so that you do not have to worry about the same again.
Most onboarding software allows you to define a process for every role or department, which includes the setting of deadlines and reminders for the new hire and internal team along with specific directions for every step.
Easy Access to New Hire Information
Employee information generally includes everything from benefits enrollment to employee handbooks. Since the system is a tool that serves both the employee and employer, they can both avail access to critical employment information using this software.
The HR onboarding software displays every step the new hire may have completed. It also helps audit the performance of the team that onboard employees, thereby improving the entire onboarding process.
Human Capital Management and its Significance
Human Capital Management (HCM) is given a significant amount of importance in this day and age. In simple words, it is a term used to describe the process of acquisition, employment, and development of an organization’s employees through the use of strategic and tactical practices and procedures to maximize their overall productivity and economic value.
It is vitally important to use HCM to retain your high performing employees and increase the overall productivity of the company.
Human Capital Management Software
Human Capital Management software makes for a highly effective way to automate and simplify recruitment, development, and training processes. Numerous organizations across the globe have decided to invest in Human Capital Management software, considering the need to maintain a high-quality work-force.
Human Capital Management software provides you with a wide range of applications to help you effectively acquire employees and track their progress.
Advantages of Human Capital Management Software
Enhanced Problem-Solving and Decision-Making
You need to make sure your HR solution includes analytics functionality that enables you to make use of the following:
- Recruitment metrics
- Data on performance and compensation
- Patterns for attendance
Higher Employee Engagement
It is critical to let your employees know that they are included to ensure they complete their day-to-day responsibilities. A Human Capital Management software removes the need for HR to waste time on routine tasks. It also enables the staff to manage schedules and keep track of the number of hours worked.