CIOs are using tech to solve the struggle of retaining talent

No, robots aren't replacing your employees...yet.

artificial intelligence / machine learning / worker replacement
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Building an amazing team of people is difficult – 68% of firms report challenging recruiting conditions in their industry. And once recruited, it’s even more difficult to keep the team together – 1 in 3 new hires leave within the first 6 months!

CIO’s need stability and reliability in their team. The pressure of handling demands from other departments that “need it now”, combined with the rapid pace of change in technology is like a pressure cooker that only gets worse with the added challenges associated with employee turnover.

Quality onboarding is critical

Imagine the stress that a new employee feels when showing up to their first day of work. New company, new responsibilities, new team members in a totally unfamiliar environment. That’s scary – the adrenaline is rushing as they walk through the door; even if they “play it cool.”

Some companies use extended training, sometimes lasting upwards of three months, to help new hires get up to speed. Other firms simply throw them directly into the fire, with 60% of companies lacking any formal onboarding process.

But, the statistics tell us that new employees need roughly eight months to reach their productivity potential. And the companies that execute a comprehensive onboarding process achieve 50% more productivity from their new hires.

The key ingredients

This shouldn’t come as a shock to the people that are responsible for the tech infrastructure at their company, but technology is one of the most important ingredients in a quality retention program.    

Simply becoming established in a new company’s HR system takes time and can serve as a distraction. Could-based platforms, like Smart Pension, can help companies comply with workplace pension requirements. For large firms, the penalty for failing to comply can be as high as £10,000 per day! And employees can complete the entire, traditionally complex process, from the comfort of their own home.

Beyond the financial benefits of using technology to ensure compliance for international teams, it also minimizes the amount of time spent with HR – completing paperwork, verifying information and waiting for appointments with a representative. The dead time costs companies money, and it frustrates new hires that are looking for work in a technologically advanced setting.

When employees can use secure, online platforms to begin the onboarding process from home, they feel more in control. And autonomy is a critical ingredient to improving employee happiness and productivity.

Massive skill shortage

There’s a reason that 68% of firms are reporting increased hiring challenges. It comes down to the availability of a skilled workforce that is highly in-demand.

The world’s largest study of IT leadership just published their findings – read the report here. Virtually every page impacts the way CIOs need to think about approaching the challenge of finding quality employees.

Speed versus team stability changes

In firms where technology is viewed as more of an infrastructure concern (governments and utilities), CIOs are focusing on building stability within their team. This is something that an onboarding process can greatly improve.

But, in industries where manufacturing is the main goal, new processes are the main focus. One could almost read into the study that manufacturers would prefer to sacrifice stability and instead deliver new ideas that impact their operating costs.

Technology truly lies in the eye of the beholder. So, the answer to a CIO looking for a better team may dramatically differ from industry to industry. Some CIOs are experiencing the pressure to quickly find new talent with new ideas and put them to work – disincentivizing the strong, time-consuming onboarding process.

Technology is essential

The saving grace for new employees in these tech teams and the frazzled HR teams that are dealing with all the new hires may come down to technology. The platforms that take time out of the classroom, and instead put employees in charge of their own destiny will serve stressed CIOs best.

And the idea of using technology to empower employees goes far beyond the onboarding process. So much of what tech infrastructure teams handle can be done remotely – something that wasn’t completely secure previously. But, thanks to modern advances in encryption and VPN technology, it’s possible to allow tech teams to work remotely.

This also opens the door to outside tech firms providing services to the motivated CIO. An outside team, that is already intact, could serve as the perfect tool for CIOs that need instant insights put into production.

The demands on a CIO have never been higher. These demands are evolving differently in various industries – and the shortage of talent isn’t helping. Platforms that allow new employees to independently and remotely complete critical steps in their onboarding can reduce friction. Giving employees autonomy to come up with solutions is an excellent way to improve productivity.

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How do you compare to your peers? Find out in our 2019 State of the CIO report