Banking’s Employee Problem An Opportunity for L&D to Step Up main
Banking’s Employee Problem: An Opportunity for L&D to Step Up
September 12, 2024
Solving the Compliance Challenge
Solving the Compliance Challenge: The Role of AI and Learning Solutions in European Banking 
September 26, 2024
Banking’s Employee Problem An Opportunity for L&D to Step Up main
Banking’s Employee Problem: An Opportunity for L&D to Step Up
September 12, 2024
Solving the Compliance Challenge
Solving the Compliance Challenge: The Role of AI and Learning Solutions in European Banking 
September 26, 2024

Onboarding Reimagined
How AI Can Build a Stronger Workforce

Brian Gold
Author: Brian Gold
Talent Solutions Advisor, Ozemio

The Problem

Hiring and training are an endless cycle for HR and Learning & Development (L&D) teams. Even if you find the right candidate, there’s no guarantee they’ll join or stick around. When led L&D teams in financial services, it wasn't unusual for us to have employee turnover in the 20%-30% (and it was higher in the call center environments I supported).

Effective onboarding helps new employees reach full productivity faster, ensuring they add value quickly in their roles. It also supports emotional integration, boosting confidence and engagement by helping new hires feel connected to their team and company culture.

With the average cost of hiring a new employee in the U.S. around $4,700 (according to the Society for Human Resource Management), successful onboarding is essential. It maximizes the return on investment by reducing the time it takes for new hires to become fully productive, and offsets costs associated with sourcing, interviewing, and hiring — including expenses like job advertising, background checks, recruiter fees, and the allocation of time and resources throughout the hiring process.

Why Onboarding Matters and Why It's Harder Than We Think

A great onboarding process sets the tone. It clears up job ambiguity, imbues company and team culture, and provides critical initial training all of which boost retention, cuts turnover, and drives productivity Onboarding is your first and best shot to get new hires off to a strong start.

But onboarding is often a "one-size fit all" solution because this is the best cost-effective solution at scale – it just hasn’t been possible to create a more customized experience easily or affordably.. We know, however, that new employees come to our companies with diverse sets of background, experience, and skills. And that "one size fits all approach"? It's ignored, it wastes time, and it annoys both new employees and their managers. 

How AI Transforms Onboarding

Yet AI is changing the onboarding game. Instead of old-school methods with one-size-fits-all training and endless "paperwork," AI brings a personalized and efficient approach. Walmart, for example, uses AI to answer common questions, guide new hires, and offer instant support—helping employees hit the ground running.

AI in Onboarding: The Key Benefits
  1. Instant Answers and Support
    Because new hires often feel lost and hesitant to ask questions, AI tools provide instant answers to their common queries, making new hires feel supported and informed from day one.
  2. Personalized Learning and Communication
    AI customizes onboarding by analyzing each employee’s background, skills, and learning preferences, thereby accelerating adaptation and ensuring that training is relevant.
  3. Automation of Repetitive Tasks
    AI handles repetitive tasks like paperwork, scheduling, and basic training, freeing up HR teams to focus on strategic activities. AI also uses predictive analytics to spot potential challenges early, thereby refining the onboarding process in real time.
  4. Enhanced Learning Analytics
    AI provides real-time insights into new hires' progress, identifying areas where they need extra help and measuring onboarding effectiveness so you can continually improve your onboarding process.
Tips for Implementing AI in Onboarding
  1. Start Small and Scale Up: Begin with a pilot program, gather feedback, refine, and then expand.
  2. Focus on Integration: Make sure your AI tools work smoothly with your current HR systems.
  3. Maintain Human Oversight: While AI personalizes and automates, your human HR team should still ensure that your onboarding process reflects your company’s culture and values.
  4. Continually Improve: Utilize AI data to keep enhancing the onboarding experience.
Embrace AI-Driven Onboarding

AI-driven onboarding isn’t just the future—it’s now. AI solutions ensure a more efficient, personalized, and engaging onboarding experience, setting new hires up for success from day one.

The impact of AI will vary depending on your industry and company size, but AI’s potential to boost productivity and employee satisfaction is huge.

Don’t get left behind—let Ozemio help you turn onboarding into a strategic advantage. Reach out today to our experts and start your journey toward smarter onboarding.

Brian Gold is a versatile and innovative Talent Solutions Advisor with over 15 years of experience in L&D and Sales Enablement. He’s passionate about driving business outcomes by enhancing team performance and well-being. Brian specializes in building talent frameworks that strengthen internal dynamics and foster a purpose-driven culture.

Author: Brian Gold
Talent Solutions Advisor, Ozemio