Paycor today announced the release of its new Onboarding solution. Designed to help employers overcome the challenges typically faced when onboarding new employees, the solution takes the manual work out of hiring a new employee to facilitate a more engaging experience.
The onboarding stage is a critical point in the employee lifecycle, and a new hire's experience during the process will shape their opinions of the company going forward. This importance of a positive onboarding experience is highlighted by recent research showing that 20 percent of turnover occurs within an employee's first 45 days on the job. All too often, new employees are welcomed to their first day with a stack of paperwork, instead of being actively engaged and assimilated into their new company. And if employees aren't engaged and made to feel a part of their team from the beginning, it will be difficult to achieve this later on.
Recognizing the need for a new approach to onboarding, Paycor developed its latest offering to help employers make a strong first impression that will result in improved engagement, productivity and retention. Rather than having new hires spend their crucial first days filling out paperwork, Paycor's Onboarding solution enables employees to read and sign important company documents and provide needed personal information prior to their start date. Not only does this help maintain compliance, but when new employees can review important company information before they start, they can become productive much more quickly.
Additional key features of Paycor's Onboarding solution include:
* Electronic documentation and acknowledgement: Federal and state compliance forms, such as W-4s, can be completed by the employee and reviewed by the administrator electronically. And with accurate, electronic records, the company can establish compliance in the event of an audit or lawsuit.
* Employee self-service: New hires can enter their own information, from personal and tax information to direct deposit forms, before their first day. Not only does this improve efficiency but it also reduces mistakes when such information is filled out manually.
* Easy record keeping: Administrators and new hires alike can download, save and print key documents once they are completed.
* One integrated solution: Paycor's Onboarding solution integrates with the company's HR and payroll solutions, ensuring that once a new hire has entered his or her information, administrators can easily review and approve from a common platform.
"Paycor's Onboarding solution has enabled us to transform our new hire activities, bringing our newest employees up to speed faster and saving significant time for the HR team," said Tarah Reid, accounting specialist at Alpha Gamma Delta Property Management. "As we continue to use the solution, we anticipate that our onboarding process will decrease from a week to just two days. Paycor is definitely on to something here."
"An effective onboarding strategy is one that immerses the new hire in the company and its culture to engage them from the beginning, instead of overwhelming them with paperwork on the first day," said James Schroth, vice president of Product Development at Paycor. "Our Onboarding solution was developed to minimize the manual work involved in hiring a new employee and thereby enable employers to focus on building connections with their newest talent. What results is a streamlined and personalized onboarding experience that allows new hires to be more productive from the start and keeps them engaged throughout their tenure."
Learn more about Paycor's HR Onboarding software.