Effective Onboarding Lays Foundation for Superior Employee Performance, Lower Time to Productivity, Within Countless World Class Organizations
NASHUA, N.H. – February 7, 2008 – SkillSoft PLC (Nasdaq: SKIL), a leading SaaS provider of on-demand e-learning and performance support solutions for global enterprises, government, education and small- to medium-sized businesses, announced today the sponsorship of an Aberdeen report that concludes drastic increases in employee retention and worker productivity levels can be traced back to effective onboarding.
Onboarding has evolved from the traditional new-hire orientations into highly strategic programs that immerse workers into company culture, systems and resources more quickly. The study, conducted by Aberdeen Group, a Harte-Hanks Company, found that 84% of organizations that achieved Aberdeen’s “Best-in-Class” status included a formal new hire training program in their Onboarding process. Furthermore, the findings show that new employees who participate in onboarding are able to achieve ideal levels of productivity more quickly in their new positions. Titled, “All Aboard: Effective Onboarding Strategies and Techniques,” the comprehensive report is based on surveys and interviews with nearly 800 HR/HCM and business line managers at organizations around the world – the majority of which are located in North America. The response alone proves how much interest companies have in improving the retention of their employees.
“SkillSoft enables effective onboarding to come to fruition on many fronts, and our large library of learning assets provide world-class organizations with the tools they need to succeed and scale effective programs globally,” said John Ambrose, Senior Vice President of Strategy, Corporate Development and Emerging Business at SkillSoft. “The results speak for themselves – in-depth onboarding not only drives better productivity but it also paves the way for higher levels of job satisfaction, which results in higher retention rates.”
In today’s fast-paced corporate environment, new hires of all educational levels need practical business skills to help them hit the ground running. SkillSoft KnowledgeCentersTM provide organizations with a single focused interface where business professionals can receive instant and ongoing skill development and performance support. The Professional Foundations KnowledgeCenter, customized to new hires, enables entry-level employees as well as those about to enter the workforce to learn the key skills required of new business professionals looking to begin their careers on the right foot or move their careers in a new direction. The Professional Foundations KnowledgeCenter includes an array of resources from SkillSoft’s Business Skills and Desktop Skills curricula, Books24x7 Collections, as well as simulations and content from SkillSoft’s Business Impact and Challenge Series to help master important skills like personal development, business basics and desktop skills.
“Onboarding is not a nice-to-have, it's a need-to-have,” said Kevin Martin, Research Director, Human Capital Management at Aberdeen. “One hundred percent of organizations that achieved our Best-in-Class status improved year-over-year new hire retention as compared to a mere four percent of all other organizations. The need to retain new hires and enable them to more quickly perform productively in their new capacity and environment has never been more pressing and is forcing organizations to look beyond traditional new hire orientation programs and towards formalized Onboarding strategies.”
The study found:
- 71 percent of all organizations surveyed list “new hire retention” as the top reason they pursue Onboarding
- 100 percent of Best-in-Class improved the retention rate of new hires over the past year
- 86 percent of all survey respondents concur that new hires make their decision to stay at the company within the first six months on the job
- 68 percent of Best-in-Class organizations describe their Onboarding solution as automated (either partially or fully) – in comparison, 56 percent of laggards describe their Onboarding solution as paper-based
- 84 percent of Best-in-Class provide a formal new hire training program
- 52 percent of Best-in-Class use assessment tools for hard and soft skills as part of their Onboarding process.
To read the entire report, please visit www.skillsoft.com
SkillSoft PLC (Nasdaq: SKIL) is a leading SaaS provider of on-demand e-learning and performance support solutions for global enterprises, government, education and small to medium-sized businesses. SkillSoft enables business organizations to maximize business performance through a combination of comprehensive e- learning content, online information resources, flexible learning technologies and support services.
Content offerings include business, IT, desktop, compliance and consumer/SMB courseware collections, as well as complementary content assets such as Leadership Development Channel video products, KnowledgeCenter(TM) portals, virtual instructor-led training services and online mentoring services. The Books24x7(R) division offers online access to more than 15,000 digitized IT and business books, as well as book summaries and executive reports. Technology offerings include the SkillPort(R) learning management system, Search-and-Learn(R), SkillSoft(R) Dialogue(TM) and virtual classroom.
SkillSoft courseware content described herein is for information purposes only and is subject to change without notice. SkillSoft has no obligation or commitment to develop or deliver any future release, upgrade, feature, enhancement or function described in this press release except as specifically set forth in a written agreement.
SkillSoft, the SkillSoft logo, SkillPort, Search-and-Learn, SkillChoice, Books24x7, ITPro, BusinessPro, OfficeEssentials, GovEssentials, EngineeringPro, FinancePro, AnalystPerspectives, ExecSummaries, ExecBlueprints, Express Guide and Dialogue are trademarks or registered trademarks of SkillSoft PLC in the United States and certain other countries. All other trademarks are the property of their respective owners, countries.
For further information, please contact: