The recruit-to-onboard stage can be a risky and costly process for many businesses. The search for new recruits, agency fees, interviewing, and onboarding all adds up, and even then, you’re not out of the woods.
Since employee turnover can slow your business down, companies should reconfigure their recruiting and onboarding to be as efficient as possible.
Oracle’s “Recruit to Onboard” can help you see exactly where savings could be made in your organization. Once you’ve prioritized the areas for improvement, a key first step will be moving your people management to the cloud.
With cloud-based recruiting and onboarding solutions, the benefits aren’t limited to cost reduction. You’ll find a whole host of tools, resources and capabilities to improve employee engagement and retention for the long term.
Here are 5 ways HCM in the cloud will improve your recruitment and onboarding:
1. Fast, integrated, insight-rich data
From identifying and shortlisting the right candidates, to automated data entry at onboarding, to integration with other business functions, like Finance, the cloud gives you rapid access to the data you need, when you need it, and enables 360-degree visibility across the entire organization.
2. Improved, better informed decision-making
With such rich data at your fingertips, you need the capability to identify and get the most from the insights locked inside it. Powerful analytics tools can help you spot skill gaps, recognize right-fit candidates and identify potential problems with churn. Reports are faster and more reliable, and decisions can be made with the confidence that they’re based on hard data, not gut feelings.
3. Higher employee engagement
Chances are that your workforce comprises a wide range of individuals, from millennials who grew up with technology to remote workers who need to stay connected. That means digital collaboration tools are a fundamental requirement for engagement, and with cloud-based HCM, they come as standard. Personalized self-service facilities improve the experience further by giving your people control over their own data–with the added benefit this brings in terms of accuracy and currency of the data you hold.
4. Tighter security
As your organization becomes increasingly data-driven and remote, “BYOD” becomes more prevalent, the protection of valuable employee data is paramount–both in terms of its security and privacy. A modern, cloud-based HCM platform provides the layered, end-to-end, up-to-date security you can rely on.
5. Future-focused technology
With the continued advance of automation and AI capabilities, you can increasingly leave it to your cloud-based HCM platform to do the leg work for you–and do it intelligently. Filtering through large volumes of application data to find the best candidates is just one example. Add in machine learning to gradually improve the quality of people it selects, and you are increasingly free to focus on the bigger picture and make the strategic decisions that count.
So how can you calculate the real and specific benefits of moving your organization to a cloud-based HCM platform? Our Recruit to Onboard tool is a great starting point.
Simply tap a few company stats into the calculator and you can work out the potential impact on your business in these 5 key recruitment targets:
You can provide as much or as little detail as you like, but of course the more you provide, the more accurate the results. Your personalized report will be accompanied by links to useful reading, videos, and infographics to help you build a convincing case.
Test drive the Recruit to Onboard tool today.