Digital Employee Onboarding witnesses 200% growth in Q1 2021 as firms
plan hiring for the year of hope
June 3rd, 2021: Tydy, an Onboarding Experience Company, has launched The State of Digital Onboarding report- capturing data and trends in global onboarding in the times of the pandemic. The report looks at data from February 2020 to March 2021 giving insights into the trend curve on digital onboarding through the pandemic and beyond. The report highlights onboarding numbers during a year when Work from Home and job losses were reported to be the highest over time and throws light on the ways global businesses automated their people processes.
The State of Digital Onboarding 2020-21 report is based on data from employers across FMCG, IT & Digital Transformation, Pharma, Manufacturing, Financial Services and Telecom. The digital onboarding trend was seen across a data set of 100,000+ employees who were onboarded from March 2020 to April 2021.
Launching the report, Kiran Menon, Co-Founder, Tydy, said, “Global economic activity, cross-border investments and onboarding numbers were booming until April 2020 and WHO called it a pandemic. The first two quarters were spent in adapting to the new normal and it wasn’t until Q3 2020, that we witnessed a bounce back, when hope reigned supreme for businesses. Digital Onboarding enabled and empowered companies to continue to onboard their new hires in the safest way possible. With zero paperwork, low-code functionalities, automated workflows and intelligent insights - HR and IT teams have been able to onboard anyone, anywhere. Since Q1 2021, Digital Onboarding has seen a 2X growth globally.”
The
report brings to light the following insights:
●
With the start of pandemic, with hiring
freezes, cost cutting and businesses going belly up, there was 25%
month-on-month decline in March 2020 with a further 50% decline by May 2020.
●
Q3 2020 was the beginning of the plan of
revival, witnessing a strong bounce back with August witnessing 65%
month-on-month uptick.
●
Companies started seriously
looking forward to 2021 and thinking about investments that needed to put in to
grow their business.
●
In Q4, the numbers stabilized. Holiday
season brought down hiring but while the curve flattened, it was an
optimistic time.
●
The optimism reflected in Q1 2021, with
Digital onboarding witnessing a 200% growth from January to February 2021
● The upward trend continues through April 2021, despite the second wave.
The detailed report can be accessed at https://www.tydy.co/the-state-of-onboarding-march-2021
About Tydy:
Tydy brings together automation, digitization and personalization to reimagine the way employees experience their new company. Tydy automates processes such as documentation, compliance, background checks, asset allocation, etc. thus saving companies time and money. With the focus no longer on the completion of manual tasks and other 'busywork', HR and IT teams can focus on creating a better new hire experience based on intelligent, data-driven insights. At today's workplace, where employees are treated as a company's best customers, Tydy's mission is to make work a better place for everyone.
Tydy has reimagined onboarding for global enterprises in over 30+ countries across industries, ranging from pharma to retail, CPG, healthcare and financial services. Headquartered in Bengaluru, India, and with offices in New York, USA, Tydy has received international recognition and is a winner of The Workies 2019 and NASSCOM Design Awards 2019. Learn more about us at www.tydy.co
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