The talent market has never been more competitive than it is today. In turn, companies are constantly looking for opportunities to improve employee retention. One such opportunity is effective onboarding. A slew of studies have shown that, done well, onboarding can have a huge impact, including:
- Improvement in new hire productivity gains
- Increases in employee engagement
- Higher employee retention
So, it should come as no surprise that respondents to the Brandon Hall Group™ HCM Outlook 2024 study indicated that onboarding is a top priority for heavy investment in 2024.
And yet very few organizations believe they do onboarding well. Why? Most onboarding solutions can’t operate with the efficiency that the pace of business demands. Plus, with the advent of remote and hybrid work, 71% of organizations believe they must do a better job of offering equitable onboarding to on-site and off-site employees, Brandon Hal Group’s latest onboarding study shows.
As a result, training cycles are protracted, staff is sent to work unprepared and churn rises even further with frustration. This has real business impact: When employees don’t feel like they are contributing, they leave — 41% of organizations experience greater than 5% turnover among new hires, our onboarding study showed. And it costs organizations 20% of the base salary to recruit a replacement hire. Instead of developing a team prepared to perform, organizations are left to account for wasted time and money.
But a smarter approach to onboarding, like the one offered by Brandon Hall Group™ Smartchoice® Preferred Provider Learning Pool, is changing the way companies welcome and integrate new employees. Learning Pool uses data to apply intelligence on who learners are, what they know and what they need to do in the onboarding process. This reduces time to contribution and sets up new hires for long-term success. And, critically, Learning Pool is doing it with a breadth of solutions that allows any business unit within a company to be strategic with what they want to get out of smarter onboarding.
The Need for Speed: Getting New Hires Productive
Companies need their new hires to contribute quickly and effectively to achieve business objectives. Learning Pool’s learning platform specializes in deploying user-directed learning and role-based learning, dynamic group management, multi-language support and more, to create ‘one-size-fits-one’ experiences.
Learning Pool also offers a digital adoption platform (DAP), called OnScreen, that trains users to use business software by layering guidance and contextual information directly on top of the software. This approach has been proven to reduce training on business software by 55%.
Boosting Confidence with On-the-Job Learning
New hires gain confidence and job satisfaction when they believe they are making a positive contribution. Offering opportunities for them to learn on the job is a great way for companies to honor that desire. Learning Pool is unique in that it offers both technology and original content. Content options include libraries, custom content and a powerful new content category called AI Conversations, which allows new hires to practice those difficult workplace conversations they may face in their new role with an AI-generated character.
This powerful pairing allows Learning Pool to offer customers a seamless blend of digital content, social learning and in-person events into engaging pathways that keep the human element alive. Further, deep search and user-generated content allow learners to access information when it’s most needed. Complete with full mobile support, learners don’t need a desk or an email address to engage in learning.
Building Connections: Fostering a Culture of Continuous Learning
Effective onboarding is just the beginning of an employee’s learning journey. To truly drive long-term success and retention, organizations must foster a culture of continuous learning and growth, while helping new hires build connections within the organization. Learning Pool understands this imperative and offers a simple, smart and social learning experience that keeps new hires engaged and motivated to learn. By leveraging advanced analytics to offer personalized learning paths, Learning Pool ensures that each new hire receives the most relevant and impactful training. This targeted approach saves time and demonstrates the company’s commitment to the individual’s growth and development. When employees feel invested in from the start, they are more likely to reciprocate that investment through loyalty and dedication to their role and the organization.
Learning Pool also helps new hires develop a deeper understanding of the company’s mission, culture, and people by incorporating the full employee experience into the onboarding process,
Through interactive learning modules, social collaboration tools and storytelling techniques, new employees can immerse themselves in the organization’s narrative. They can learn about the company’s history, values and goals, as well as connect with their colleagues and mentors. This holistic approach fosters a sense of belonging and satisfaction, leading to higher engagement and retention rates.
Deploying at Sale: Supporting Administrators in Connecting with New Hires
An enormous challenge companies face, particularly large organizations or organizations with naturally high levels of churn, is making sure that administrators of onboarding programs can give each new hire the attention they deserve. And when new hires feel supported, valued and equipped with the necessary tools and knowledge to succeed, they are more likely to stay with the organization long-term.
Learning Pool’s approach? Let technology take on the management strain; their learning platform uses automated communications and smart nudges to keep onboarding progressing at the best pace, keeping managers informed at every step of the journey.
About Learning Pool
In the battle for talent and employee retention, onboarding is a powerful tool. By leveraging data-driven technologies like those offered by Learning Pool to deliver personalized learning experiences, companies can get new hires up to speed quickly, boost confidence, foster a culture of continuous learning and ease administrative burdens. By partnering with Learning Pool, organizations can unlock the full potential of their workforce, drive business success and create a thriving, engaged and loyal employee base. The future of employee retention starts with transforming the onboarding experience. Learning Pool’s digital solutions pave the way.
