By automating HR processes with ECM (enterprise content management) systems, HR departments can reduce compliance risks and the costs associated with paper management while elevating employee self-service to a new level.
This is important because healthcare and legal documentation can be overwhelming for companies of any size.
Consider this: ABC news recently reported that complying with the Affordable Care Act is costing small businesses more than $15,000 per year, simply to meet the paperwork requirements for tracking hours, absences and the amount spent on health insurance.
Making compliance more efficient
By automating HR, managers can track all of this data in a central location and leverage reporting and analytics tools that just aren’t available with paper systems.
Documenting payroll, benefits, workers compensation, OSHA and all pertinent communications becomes far more accurate and efficient without the wasted back and forth of emails, phone calls, interdepartmental mail and lines at the copier.
Saving time and cost
According to HR World, up to 80% of an HR department’s time is spent on administration and paperwork. From recruitment and training to managing staffing and employee onboarding, HR managers need all the help they can get to save time and reduce the costs associated with all the paperwork.
With ECM, all information is stored, accessed and completed online, reducing the need for printing, copying and mailing paper, as well as allowing data to be accessed electronically for analysis and reporting.
According to Deloitte Talent Analytics research, companies “who go through the process of ‘datafying’ their HR organization are seeing 2-3x better results in quality of hire, pipelines and employee turnover.” By delivering easy access to every employee interaction—resumes, personal information, hiring and tax documentation, training manuals, performance reviews and payroll—businesses have a 360° view of each employee.
There’s another benefit: utilizing data to better manage overhead, hiring, overtime, medical benefit management and other related costs.
Self-service convenience
We are now a self-service population, using our smartphones and tablets for everything from banking and shopping to booking international travel and tracking our kids.
The use of personal electronic devices also extends to work deliverables. According to a recent Gallup Poll, one-third of employees use their mobile devices to access work after hours, and 96% of full-time American employees say they use at least one of their own devices to access work-related content.
With all HR-related documentation accessible, employees are better able to control their work lives, e.g., managing benefits and direct deposit options, updating personal information, and submitting expense reports and performance management information.
Anything that needs approvals can be automatically routed to the right person in a matter of minutes versus waiting for hard copies to be printed, copied, signed, faxed or mailed. Saving employees time on their personnel records management means they have more time to focus on the work they were hired to do, and HR departments have all the information they need in one location.
Control and protection
HR departments should have strict policies and procedures for ensuring employee records are protected. With an ECM system, all files are securely stored in a centralized database. Document access restrictions prevent confidential information from being accessed by the wrong people.
Automating HR with ECM delivers a full audit trail of opening, editing, completing, signing and printing, which decreases the risk of lost files and incomplete workflows. HR can respond quickly and accurately to state and federal Departments of Labor, health care providers, attorneys and employees. Records can also be set to self-destruct when needed, according to internal timeframes and industry regulations with data date- and time-stamped for enhanced compliance.
The case for ECM
Business today is all about leveraging the power of technology for efficiency, security and convenience.
With a number of cloud-based ECM technologies in the market, automating your HR doesn’t need to be cost prohibitive. Instead, it can be an indispensable tool for managing your most important resource at a price that’s right for small to medium businesses worldwide.
