Cornerstone OnDemand co-sponsors Aberdeen Group's groundbreaking report on 'onboarding strategies'
Cornerstone OnDemand, the provider of on-demand, integrated learning and talent management (ITM) software and services, has joined other major players in the human capital management (HCM) world, including SAP and SkillSoft, in co-sponsoring a groundbreaking report on 'onboarding' - or, as it is known in the UK, induction.
The report - 'All Aboard: Effective Onboarding Strategies & Techniques' - by technology research firm, Aberdeen Group, examines how global enterprises are implementing induction strategies, as well as the processes and solutions to improve performance in critical new employee metrics, including new hire retention, time-to-productivity, employment brand and completion rates of induction-related tasks. In addition, the report recommends actions that companies can take to improve the effectiveness of their induction strategies.
The Aberdeen Group report is drawn from a survey of 794 responses and provides a roadmap for organisations seeking to achieve superior performance through 'best-in-class' use of induction with regards to strategy, capabilities and technology.
The report, authored by Aberdeen Group Research Director, Human Capital Management, Kevin Martin, characterises the organisational approaches used by companies that are the most successful in induction, and includes the role technology plays in that success.
"The need to retain new hires and quickly enable them to perform productively in their new capacity and environment has never been more pressing. This need is forcing organisations to look beyond traditional new hire orientation programmes and towards formalised induction strategies."
The report found that while 86% of the organisations surveyed agree that it takes up to six months for a new employee to make a firm decision to stay with the company, some 61% of all organisations either don't offer a formal induction programme or end their induction programme within one month. The study also found that best-in-class organisations with respect to induction are more likely to:
• Begin induction before the start date of employment.
• Ensure the induction process is at least six months for select stakeholder groups.
• Extend induction to all new employees, including those coming from mergers and acquisitions as well as those who have accepted internal job transfers.
• Make 'socialisation' into the organisation's culture a key focus of the induction process.
Furthermore, the report sheds light on the usage of technology to achieve best-in-class performance in new hire retention and productivity. Jayson Saba, Research Associate at Aberdeen's Human Capital Management practice, commented: "More than two thirds of the best-in-class are automating all or parts of their induction process, compared with 45% of other organisations."
A long-time proponent of the importance of effective induction programmes, Cornerstone recently launched Cornerstone Onboarding, a solution that is part of its ITM platform for employee learning, compliance, performance, compensation, succession and analytics.
"Organisations invest substantial resources to find and acquire the right talent," explained Vincent Belliveau, General Manager EMEA, Cornerstone OnDemand.
"To attract, develop and retain high potential talent in the companies of tomorrow, a strong induction programme is a pre-requisite to empowering and engaging a new employee, but it doesn't end there. Strategic induction is required throughout an employee's career as they change roles and their careers develop."
"We specialise in helping organisations reduce time-to-competency, increase performance and retention, as well as reduce administration by breaking down the organisational barriers between training, performance, succession planning and compensation," Belliveau added.
"Induction goes beyond routine orientation to become a critical component of any integrated talent management strategy," said Adam Miller, President and CEO of Cornerstone OnDemand. "We are pleased to sponsor such an insightful report from Aberdeen Group that highlights how technology solutions such as those from Cornerstone can help in automating induction processes for heightened employee engagement."
For a free copy of the Aberdeen Group report, courtesy of Cornerstone OnDemand, visit: www.cornerstoneondemand.com/landing/onboardinginduction-inOnboarding-lsPress-ca7010000000050yv.ashx.
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