Bengaluru: 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.
The report by Tydy brings to light the following insights:
- With the start of pandemic, with hiring freezes, cost cutting and businesses going belly up, there was 25 per cent month-on-month decline in March 2020 with a further 50 per cent decline by May 2020.
- Q3 2020 was the beginning of the plan of revival, witnessing a strong bounce back with August witnessing 65 per cent 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 per cent growth from January to February 2021
- The upward trend continues through April 2021, despite the second wave