Report highlights impact on fintech sector employee engagement & retention due to paperless employee onboarding

Louise Roberts from Sphere PR
07 Aug 2018

HROnboard is today announcing the inaugural Paperless Employee Onboarding Benchmark Report for 2018. The report reveals some remarkable insights about 26,800 new employees that were processed by HR teams across Australia and New Zealand during 2017, achieving extraordinary time savings and significant improvements to the job offer process due to paperless employee onboarding. There were some very interesting findings in the fintech sector particularly.

The Paperless Employee Onboarding Benchmark Report presents tangible evidence of candidate responses, internal processing and user experiences associated with a paperless employee onboarding approach. The report highlights the huge amount of time and resources that can be saved, how many errors can be avoided in the contracting process and how it speeds up the time it takes candidates to accept contracts; whilst stating the best day for sending out offers for improved acceptance rates.

The key findings of the report were:

  • Tuesday is the best day to send a job offer, and Friday is the worst to get a quick response and secure talent

  • It takes just 7.5 minutes for an HRM to create and send an offer to a candidate

  • 40% of new starters accept their job offer on a mobile device

  • It takes 42 minutes for candidates to complete and accept a digital offer

  • It takes 1.4 days on average from offer creation to acceptance and back to payroll

  • The top 25% finish the onboarding process in just over 7 hours

  • The fastest offer acceptance process, including creation, review, acceptance and form submission to back office was just 2.5 minutes!

  • 89% of new starter onboarding feedback is positive.

HR specialists across many sectors agree with the findings of the Onboarding Benchmark Report and Liz Turner, Head of Global People and Experience at Visa-owned Fraedom, a fintech company providing payments and transaction management solutions to financial institutions and their corporate customers, said: “HROnboard gives us the ability to create a kick-ass first day, build excitement about our culture while maintaining a high level of compliance and governance throughout the employee's lifecycle. We've reduced new hire processing from 3 weeks to 2 days and by month two, 93% of employees are confident to perform the requirements of their role. And our new employees love it!”

Measuring the impact and results of moving to paperless onboarding can be challenging, which is the key reason HROnboard has compiled this report to help HR executives and managers involved in the hiring of employees understand the benefits of automating the manual processes involved from the job offer to the first anniversary.

“Many organisations struggle to articulate the benefits of automating manual, labour intensive practices in HR,” said Peter Forbes, CEO of HROnboard. “Employee onboarding and the sending and processing of job offers and new hire provisioning are usually manual processes, that are ripe for automation. This report highlights the impact of paperless employee onboarding on securing and retaining new employees,” continued Peter.

Allowing the onboarding software to auto-generate the employment contract, rather than uploading an agreement prepared outside of the platform, reduces operator errors and ensures compliant, consistent workplace agreements. And the evolution doesn't stop there; many HR teams are moving beyond the process automation of onboarding and taking the next step and completely automating the contract generation process by using advanced logic and award interpretation.

“The benefits of paperless onboarding proven by our report, shows there is an opportunity to not only speed up the recruitment process by decentralising it from the central HR team, but also to ensure every new hire experience is as unique as the individual, making each and every new employee feel special throughout their journey from offer to first year,” concluded Peter Forbes.

The full report can be downloaded at:

About HROnboard

HROnboard is employee onboarding engagement software that helps HR teams create amazing new hire experiences and automate back office administration. With a suite of mobile-first tools, HROnboard manages employee onboarding and new hire welcomes while providing deep insights in a way that’s simple, smart and secure. Send beautiful job offers for new hires to accept and complete from any device. Build nurture programs to connect new hires and their team before Day 1. Offboard exiting employees in style, securely. For the back office, our included government forms, provisioning notifications and integrations make streamlining the heavy lifting a breeze. See

About the founder and CEO, Peter Forbes

Peter Forbes is the founder and CEO of HROnboard, the app that has made a name for itself helping HR create and send beautiful job offers to new employees. Peter has 20 years experience in the HR Tech space as an HRIS and Payroll consultant, developer and product designer. He is also the managing director of Navigo, the experts in niche enterprise HR solutions. See LinkedIn for more information or for an interview with Peter contact our PR agency, Sphere PR.

Media Images:

For more information, please contact:
Louise Roberts
Sphere PR
Governor Macquarie Tower, 1 Farrer Place,
2000 Sydney

Category: Data Solutions
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