Onboarding: ROI of Onboarding Systems

To build a strong business case for onboarding, you’ll need to present measurable ROI. Task-related ROI, such as the number of employees processed per year, cost savings on processing employee materials and time saved on logistics and documentation offer a great starting point. But don’t forget to measure the impact of the employee experience. Retention rates and performance indicators provide insights into the success of your program. You can also uncover satisfaction levels through periodic surveys and in-person meetings. These tips will also strengthen your business case: Gather stories of times when onboarding has gone wrong. Specific illustrations of where onboarding has gone wrong will spur the conviction that something needs to change. Reach out to a relevant role model. Seek out an organization of similar size and sophistication with a great onboarding program and then present a comparison. Gather data on time-to-full-proficiency. A positive experience for new employees is nice but the typical CFO cares more about productivity. Gather data to demonstrate progress and then ask the CFO to put a dollar value on the results. Suggest a small pilot. Let managers ‘see and touch’ an onboarding solution to gain support for an enterprise-wide rollout. Revisit data regularly. Don’t stop after you create the business case. Use your data to regularly revisit initiatives and make tweaks. Close the loop with senior executives. For ROI formulas and additional tips, download Calculating the ROI of an Onboarding Technology Solution.

Read More:

How to Evaluate Onboarding Systems

When you evaluate onboarding automation solutions and solution vendors, make sure you evaluate each across these 18 critical areas. Read more

Onboarding Customer Testimonial

McLeod has experienced an enormous time savings from the system’s efficiency, and has succeeded in giving new hires the better experience it wanted to provide. Read about McLeod's seamless onboarding process

Calculate Onboarding ROI

Justify an investment in onboarding technology with this step-by-step guide. Calculate ROI now