Employee retention is one of the biggest areas of concern for many CEOs today. Some of the highest turnover rates in a company happen within the first 45 days of employment, and the onboarding process has a lot to do with that statistic. Nearly 40 percent of employers lack a structured onboarding process, which leads to decreased employee retention, productivity, and company morale.
Even given these statistics, many human resource departments lack the tools and software to make the onboarding process as efficient and effective as possible. Up to 88 percent of employees say their employer did not provide a productive onboarding process for them when they were first hired. Despite conducting business in the “digital age,” many companies still rely on analog and manual processes when bringing on new team members, including requiring physical paperwork and ink signatures.
Thanks to advancing technology, there are now a host of digital tools that can make employee onboarding faster, more accurate, and more enjoyable for all parties involved. By using virtual onboarding strategies, companies of all sizes will find that their teams are more productive and satisfied.
What is virtual onboarding?
Virtual onboarding, also called online onboarding or remote onboarding, streamlines the process of introducing new hires to a company and acquainting them with their role. By automating and digitizing certain steps and requirements, it allows for greater flexibility and efficiency and also ensures a consistent experience from employee to employee. Virtual onboarding processes may include:
- A virtual office tour
- Video calls with HR representatives or senior leaders
- Virtual identity verification
- E-signatures and online documents
- A virtual employee portal
- A video introduction to the company
- Virtual trainings
Who can benefit from virtual onboarding?
Companies of all sizes and in all industries can benefit from virtual onboarding. Businesses that are fully remote or offer remote work as an option will particularly benefit. During the height of the COVID-19 pandemic, it was estimated that as many as 1 in 4 Americans were working from home. Worldwide, about 16 percent of companies are completely remote and experts have noticed a distinct trend toward more flexible, remote employee schedules. However, even “in-person” businesses can dramatically improve their HR and onboarding processes by going digital.
What is the role of identify verification software in remote onboarding?
Identity verification software, such as that offered by PRUVID, can confirm the identity of new hires and aid in confirming background checks without the need to secure physical copies of identification cards or require ink signatures. This can expedite the process and also ensures accuracy. For example, Pruve uses facial recognition technology to allow users to sign documents from their phones using a face scan and the state ID associated with their profile. This feature can be coupled with an eSignature, thumbprint authentication, or both for an added level of security.
Why is it important to have a virtual onboarding system in place?
As technology advances and more companies undergo digital transformation, remote employee onboarding will become the standard. However, as with any web-based process, it is vital to ensure the security and privacy of sensitive information. When incorporating virtual onboarding and identity verification, companies need to ensure they utilize a secure software with multi-level authentication features.
PRUVID is the leading provider of virtual onboarding, identity verification, and e-signature software. We use artificial intelligence and biometrics combined with blockchain technology to prevent fraud, secure businesses, and reduce onboarding time. To learn more about our software or set up a business account, contact one of our representatives today.