New Digitate Research Sheds Light on How Onboarding Experiences Can Impact Businesses’ Employee Retention and Bottom Lines
SANTA CLARA, APRIL 30, 2018: Digitate, a software unit of Tata Consultancy Services (BSE: 532540, NSE: TCS) and pioneer in IT Automation and Artificial Intelligence (AI), announced today its Employee Engagement study examining how onboarding experiences can affect employee retention, company recommendations and potential revenue gains.
Digitate surveyed professionals who work for corporations with 500+ employees across multiple disciplines, including professional services, financial services and insurance, manufacturing, and healthcare. Key findings included:
Onboarding experiences impact retention:
Most new hires are dissatisfied with the onboarding process:
Misalignment between HR and IT departments:
Employees are embracing automation:
“Given enterprises invest significant resources in HR technology software and typically spend an upwards of one-third of an employee’s first-year salary to retain the best talent, our survey shows enterprises are under-performing in employee onboarding and not maximizing returns from their investments,” said Victor Thu, Head, Product Marketing, Digitate. “Enterprises have an opportunity to improve their new hire onboarding processes and deliver tangible value by using AI and automation.”
The traditional process of setting up a new employee, in which HR initiates a series of tickets or emails, can be inefficient for all stakeholders. Digitate’s AI-enabled application, ignio™, helps organizations run IT infrastructures far more efficiently, improve customer experiences and increase the agility and stability of IT operations.
With ignio, organizations can automate portions of their IT provisioning work, providing IT staff with the opportunity to focus on more challenging and strategic projects. In addition, ignio’s understanding of the business environment provides organizations with better insights into its policies and guidelines in the areas of data management. Overall, ignio™ eliminates previous bottlenecks and red tape typically associated when onboarding new hires, leading to an increase in productivity and overall increase in employee satisfaction.
According to Dave Schubmehl, Research Director for Cognitive/AI Systems at IDC, “Cognitive/artificial intelligence systems are a class of technologies that have emerged to facilitate the discovery, use and collaboration of information in analysis and decision making. By automating IT operations with AI-based capabilities, tasks that had previously taken hundreds and thousands of operations hours have been reduced to five to 10 minutes.”
While CIOs are typically associated with ‘back office’ responsibilities, the time is ripe for CIOs to take advantage of front-office functions by addressing employee onboarding. AI helps businesses create a sustainable competitive advantage by customizing employee experiences, boosting employee satisfaction and driving top-line revenue.
About the Study
Approximately 1,500 employees across numerous industries and functions participated in the study, conducted by Research Now, a research technology company.
Digitate™ leverages machine learning and AI (artificial intelligence) to intelligently manage IT and business operations. Our award-winning product, ignio™, is a cognitive automation solution that helps IT rapidly identify and remediate outages in minutes. ignio’s unique pre-built knowledge allows customers to realize the value of AI in significantly less time than other solutions. It binds together disparate but interconnected business applications, processes, and the underlying infrastructure to drive smart decisions and perform actions autonomously.
Digitate is a new venture of TCS (Tata Consultancy Services) founded in 2015 as a wholly-owned entity. Digitate is headquartered in Santa Clara, California, USA and Pune, India.
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that partners with many of the world’s largest businesses in their transformation journeys. TCS offers a consulting-led, Cognitive powered, integrated portfolio of IT, Business & Technology Services, and engineering. This is delivered through its unique Location Independent Agile delivery model, recognized as a benchmark of excellence in software development. A part of the Tata group, India's largest multinational business group, TCS has over 394,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $19.09 billion for year ended March 31, 2018 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. For more information, visit us at www.tcs.com.
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