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Reduce Risk with Your Employee Onboarding Processes

How can you mitigate the risks that come with your employee onboarding processes?

Businesses exist and operate with the intention of staying in the market for as long as they possibly can. As companies experience growth or expansion on the road to success, the unavoidable process of hiring new employees and building efficient employee onboarding processes comes into play.

As with many factors of running a business, onboarding new employees is not without risk. Often, the risk can result in the loss of revenue. We’ll look at some of these risks and how your business can avoid them for a smoother onboarding process.

Risks Of Employee Onboarding Processes

Employee Onboarding

Hiring and onboarding new employees involves a lot more than posting a job ad on LinkedIn. The increasing laws and regulations in and around the hiring and employing process expose many employers to more risks with potentially costly legal implications.

Employers have to comply with the new employee notification regulations applicable in the states they operate in to avoid non-compliance. These include the new wages and hours notifications, the pregnancy accommodation legislation, paid sick leave, and general sick leave laws.

When there are gaps in the employee onboarding process, employers run the risk of expensive penalties and fines for non-compliance, compromised employee productivity, subpar customer service, decreased or lost sales, and increased staff turnover. Employees also have the legal right to use a company’s state of non-compliance as evidence to build legal cases against their employers. These risks all negatively impact your company’s bottom line and professional reputation.

Companies in industries with complex compliance requirements have an additional layer of responsibility - making sure their employees understand the regulations and guidelines that apply to them. It’s key for businesses to ensure all staff are equipped with the facts about relevant documentation, so they can do their job safely and effectively.

Risks Of Employee Onboarding Processes

Though not every risk is avoidable in the new hire onboarding process, most of them can be limited. By using the right tools, your company can manage, mitigate, and limit these risks. Your company can streamline its onboarding and ensure all new hires have access to the necessary tools and documents to prepare them for their roles efficiently. Here are a few things your company can do:

  • Keep track of all new or updated hiring and employment legislations, policies, regulations, protocols, and laws applicable to your industry and state, and ensure all employees have easy access to them.
  • Monitor the compliance progress status of each individual in your organisation from one central point and send individualised requests for the completion of compliance tasks.
  • Streamline your onboarding by centralising all new hire rules, regulations, protocols, KPIs and all other necessary tools to give your new hires ease of access to all onboarding materials.
  • Centralise all the relevant employee documentation for data protection and ease of access for auditing.
  • Conducting audits to identify and reduce any errors in your onboarding processes to ensure compliance.
  • Creating specific and detailed data trails for easy tracking.

Compliance Tracker 365 can help target important content to new starters and confirm it’s been read and understood.

Contact us today, and let us help you ensure you have the best tools in place for your onboarding process.

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