It was a rough week before Christmas.
Finding out that two of your top five sales people were giving their two week’s notice was disappointing. Realizing that a better HR platform might have been able to keep at least one, if not two, of those employees was even more devastating. In the past, you have always prided yourself in being a great human resource manager. You now realize, however, that while you have a handle on maintaining benefits packages and overseeing vacation and sick days, there are many more aspects of a successful HR platform. Starting with implementing a successful onboarding program to making sure that the new employees you do find are the best candidates available, a strong HR platform will help you find and keep the resources you need to make your company successful.
Whether you are looking for alternatives to compensation management solutions or simply looking for a better way to vet possible job candidates, more and more companies are realizing that these are tasks that cannot always be managed inhouse. The decision to contract with proven HR platforms is a decision to make an investment in the most valuable resource that a company has: its employees.
Consider some of these statistics about the human resource functions that companies must meet if they want to be able to retain the best workers:
- $350 billion is the amount of money that disengaged or unhappy workers in the North American business economy amount to a year in lost productivity.
- 25% of companies admitted that their onboarding program does not include any form of training, according to recent studies.
- When companies take the time to make sure that new employees go through a well-structured onboarding orientation program, however, these workers are 69% more likely to remain at a company for as long as three years.
- 47% of companies have HR software that is more than seven years old.
- 40% of millennials select an employer based on their health and wellness benefits, according to Deloitte research.
- Organizations that implement a standard onboarding process experience 54% greater new hire productivity, as well as a greater new hire retention rate of 50%.
If you want to make sure that your company gets off to a great start in the year 2018, maybe it is time to make sure that you implement the best possible HR platform.