ROI Benefits Of Digital On-boarding
One of the easiest ways to get a return on your elearning investment is to use online (or digital) training for employee on-boarding.
The hiring process for companies is not only time consuming but also requires a lot of financial investment. It has been reported that on average it takes 23 days and nearly $8,000 to fill an open position.
Multiply this by the number of positions and the costs can add up over time (which is added incentive to use elearning to help prevent high turn-over rates).
Using elearning to deliver the bulk of your on-boarding program is a good idea for multiple reasons. First, it ensures that every new employee gets the same training content delivered in the exact same way.
But also it helps to lower early attrition. It has been found that nearly 4% of new employees leave their new jobs after a terrible first day, and 33% decide to leave after the first 30 days.
After a 12-month period, a company will lose nearly 25% of all new employees.
This kind of high turn-over is costly and reason enough to invest in a robust elearning based on-boarding initiative.
An informed employee is more likely to feel confident in their job and feel better prepared for the challenges.
The return on investment isn’t just about cutting down the rate at which employees opt to leave the company, it also frees up the time of human resources personnel so that they can spend their time on more pressing matters that impact the business.
With elearning carrying the bulk of the on-boarding load the HR department becomes another value-added resource.
You don’t need to be a large organization to warrant digital training for new hires. In fact, by starting an official program now you become better prepared for growth in the future.
Interested in learning more about using elearning for new hires? Check out the infographic on this article.