This post was updated in February 2020
The hiring process as a whole can be quite a costly venture. It’s impossible to put an exact price on what each new employee is going to cost you, but HR professionals everywhere agree that it is not cheap. Unfortunately, there isn’t much you can do to limit this price short of focusing time and energy on your employee retention rates.
However, it isn’t just the monetary cost that makes hiring new employees such a headache. The time it takes to gather all the new employment documents and ensure they’re completed accurately alone is rather daunting, and that says nothing about the work that needs to be done after the employee starts. Often times the first day or two of a new hire’s training results in them filling out mounds of paperwork, and that doesn’t leave them with a great first impression of your company. With Dominion’s Onboarding software, you can say goodbye to this cluttered, unorganized process and say hello to a streamlined method that will save you time and boost your new hire retention.
1. Complete All New Employment Documents Electronically
With Dominion, all of your new employment documents are completed online and available on the cloud. You simply need to input the new hire’s general information and select the pages you would like them to complete. Once that’s done, our software will automatically send the employee an email with temporary login information that will bring them directly into our software.
At that point, they’ll follow the prompts to fill out all of the pages you selected for them to complete, such as emergency contact, direct deposit information, W-4’s and I-9’s, and dependent information. You’ll get a notification once they have completed all of their new employment documents, so all you have to do is hop into the software, certify their I-9, and mark them as completed. What’s more, all of the employee information is automatically transferred into your payroll so there is no dual entry on your part.
2. Keep Your Employees Engaged From Day One
Overloading your new hires from day one with their new employment documents, training sessions, and numerous introductions to new faces can force them to mentally check out after a few days.
With Dominion’s electronic Onboarding, the employee can complete the essential forms on their own time so that step can be skipped on their first day. What’s more, Dominion allows you to create your own custom pages for your employee to fill out so you can have the employee undergo certain pieces of training before they even start. This is an excellent way to ensure your new hires have a relaxing, stress-free first day where they feel comfortable engaging with your staff and aren’t overwhelmed with information. Want some more tips on how to properly onboard your employees? Our friends over at Continu recently published an article, A Step-By-Step Guide to Better Onboarding, that covers the best way to optimize your onboarding process. Check it out for some more ideas on what you can do to improve your new hire experience!
3. Onboarding that Pays for Itself
At Dominion, the pricing behind our product is surprisingly low, particularly when you consider the costs it will save you. For one, being paperless will save you the costs spent on paper, ink, file storage, and other company expenses that add up over time. Additionally, the time it will save you leaves you available to focus on more important tasks, and as we all know, time is money.
Lastly, you’re going to save on your employee retention rates.
As we discussed above, the cost of employee turnover is immensely high, and according to a recent study, thirty percent of new hires will leave a job within 3 months of starting. A big contributing factor to this is due to a lack of proper onboarding. By having a software that makes this process smooth and efficient, your employees will have a better outlook on your company from the get-go and your retention rates will increase significantly.
4. Stay Secure and In Compliance
Dominion creates an electronic trail that will help you stay in compliance when you need to track down certain documents. You no longer have to worry about certain documents getting lost or damaged and you’ll always have records that prove the appropriate materials were delivered, reviewed, accepted, and filed. What’s more, you’ll have passwords and encryptions that offer high-level security for your employee files. We take this security very seriously at Dominion, so you’ll never have to worry about your important information being misplaced or damaged (or even stolen, which is known to happen).
If you believe that Onboarding would be beneficial for your business, let us show you a personalized demo at no obligation on your end.