Your HR department handles a myriad of tasks and is responsible for tracking any and all information, documents, and regulations pertaining to your employees; including hiring and firing, payroll, training, employee benefit management, reporting, and much more. The amount of paperwork HR Departments need to manage all of that is astounding! For example, a company who has 200 employees that offers 4 versions of 10 different benefit plans, the HR department must generate, distribute, track, and follow up on 8,000 documents- that’s before anyone even enrolls! The number only gets larger from there.
On top of the mountain of time consuming paperwork, over 50% of a HR department’s time is spent simply processing employee information and answering questions, according to research by the Center of Effective Organizations. A similar study by the Society for Human Resource Management also found that 60% – 80% of an HR staffer’s time is tied up in repetitive administrative tasks, answering questions, and gathering information for reports. When HR is stuck doing all of that necessary yet redundant paperwork, putting reports together, answering questions, and taking care of other daily activities, they simply don’t have the time to focus on more strategic activities like managing compliance regulations for example.
So, back to the ever-present issue of time. When HR Employees are left to manage all of this manually with spreadsheets and/or the limited capabilities provided in their ERP system, the end result is stressed out HR employees, paperwork or payroll mistakes, disgruntled employees, and high risks for compliance penalties and liabilities due to the complexity of today’s business and government mandates.
Human capital management software can help HR Departments get out from under the mountains of paperwork and daily administrative tasks through process automation; giving HR employees back the time they need to reduce the risk of liability, decrease HR overhead, and maximize the ROI of each and every employee. While the benefits of human capital management software are many, selecting the best solution for your business is not an easy task.
To help you better understand your options and select the best-fit solution, we’ve put together a Buyer’s Guide and RFP Template. These resources present an overview of business software available to manage various aspects of human resources along with a sample request for proposal (RFP) template with a list of features available in some of the more popular HR business applications available today. Click below to get your copy.