With a flood of digital business models, interactions and collaboration is on the rise ! On-demand services have further transformed the business landscape. In such a complex network, individuals and businesses trust one another blindly! In day to day life, you depend on people you don’t know well to work for you, to drive you around.
Traditionally, building trust has been implicit and not possible in real time. And the results have been surprising! Insider threats and frauds from employees across all levels have been found to rise.
So recruiting and retaining talent is a major challenge in the competitive world of today for HR professionals. A study conducted by Kronos and Future Workplace found 87% of global employers were concerned about retaining talent at the workplace. The scenario is not much different in India where attrition rates in IT, healthcare and other sectors have been close to 25%.
Onboarding experience can improve retention
A study shows that employees who had a great onboarding experience were 69% more likely to stay in the company for three years. Companies are increasingly investing in providing a great onboarding experience to increase employee engagement and talent retention.
How HR Technology helps speed up onboarding Process
Data shows that 20% of turnover occurs within just 45 days of recruitment. It makes sense to use HR technology to speed up and streamline onboarding to improve employee engagement and retention rates while optimizing the cost of recruitment. So Instant background verifications have come alive in the way operations are conducted. State-of-art technology is used for the finest services in background verification to enhance delivery of services. Use of APIs, Artificial intelligence, Machine Learning and advanced algorithms are transforming the way background verification is conducted and delivered.
Also Read- Streamlining Recruitment- Powered by Background Verification Technology
Not only does technology deliver convenience, it offers reduced turnaround time & faster on-boarding to deliver enhanced candidate experience. This also leads to reduced chances of losing the candidate to a competitor!
Today, with technology and creation of authentic databases, bridging the trust deficit gap is possible!
