Your compensations program is one of the most influential resources when it comes to building and sustaining the right talent, and optimizing this tool is imperative for your human resource function. Retention rates can be connected to compensation tactics through big data and people analytics, and your initial onboarding strategy should be tailored to market compensations to new hires.

Onboarding programs can enable HR personnel to produce and store a wealth of information relating to compensations policies, creating easy reference points for all levels of workers. The price tag concerned with tasking your HR department to individually market and process compensation programs is high when you take into account the amount of time and dedication it takes to inform and educate employees on these policies.

Onboarding programs make it easy to track applications regarding your organization’s compensation system, with time-tracking and calendar capabilities that ensure no deadline is missed. Staff an often times feel disconnected from their company’s policies, overwhelmed with bulky brochures or outdated infographics that lack many details regarding the specifics of what exactly they are entitled to. Cutting down on the time new hires spend on sifting through what they must do to apply not only benefits them, but benefits overall productivity as they can slot into daily operations at a much faster rate.

If you’ve heard some of the logistical nightmares when it comes to open enrolment across a company who has undergone significant employee hiring schemes in recent months or have an outdated, inadequate orientation system, you can protect yourself from suffering from the typical struggles by implementing an onboarding system tailor made and based upon your existing processes.

For leaders in departments grappling with training new hires and getting them up to speed with the inner workings of your organization, making compensation packages readily available across a company-wide, integrated system can transform their time management and allow them to concentrate on the more complex details of new recruit transition. It’s likely that most busy executives don’t have the time to get to know compensation policies like the back of their hand, and those HR experts that do are also tasked with many other important and influential responsibilities that can have an impact on your company, so introducing software that makes them immediately accessible and allows the process to be smoother for everyone.

In an economic climate where talent gaps are predicted to hit across all industries within the next decade, creating sustainable leaders and establishing firm retention programs should become priority strategies for all companies. Just like a great rewards system, compensations programs can either attract the right talent to you or push them away toward rival companies who offer better benefits. If your onboarding program fails to engage new hires with established and proven employee initiatives right away, you run the risk of them starting out as disengaged or gradually becoming isolated and less a part of your organization as their development progresses.

In a time where talent remains to be your biggest resource, all professionals should be taking steps to prevent this from becoming a workplace reality.