Believe it or not, in 2015, there are still a great many companies out there using primitive, disjointed processes for taking care of their human capital management needs. They’re trying to log people’s hours, process their paychecks, administer their benefits and even look after people’s health and wellness, but most of these tasks are handle separately, and often using outdated technologies.
According to Business 2 Community, this is even an issue among larger employers.The news source recently shared some revealing data on the subject from benefits administration software comparison site Software Advice – 56 percent of today’s companies still use “traditional” methods of tracking benefits, like pen and paper or maybe spreadsheets.
Only 27 percent have more advanced HR software. You might think it’s only tiny organizations doing it this way, but you’d be surprised – the most represented employers in this survey were those with between 101 and 250 employees.
Robert Johnson, chief executive officer of startup TeamSupport.com, believes that upgrading to better HR tech solutions is essential. He told Business 2 Community that taking this step can help all businesses, but especially larger ones with a lot of employees, save time and money.
“HR can be a difficult undertaking, and not just for a small business owner who has to deal with it, but also for the HR department of larger corporations,” Johnson explained. “The more employees a company has, the more time-consuming it is to handle the administration of insurance, vacation, sick time and other benefits. Employee self service portals for benefits enrollment and tracking can be an ideal solution.”
The benefits of moving to a modern cloud-based HCM solution are huge. Specifically, here are four positive side effects that should stem from that decision:
Tossing out the pen and paper
It’s time to stop tracking important employee data using paper documents. They’re error-prone, they’re hard to organize and they can even get lost. Moving to an advanced HCM solution with one employee record can help you get a far better handle on your employees’ information.
Consolidating scattered processes
There are some companies that aren’t so primitive as to use pen and paper, but they do have HR data scattered across a number of different solutions – they’re using one for tracking hours, one for doling out paychecks, one for benefits and so on. Consolidating them with one HCM solution with zero interfaces will make it easier to manage the numerous HCM tasks.
Improving employee tracking
For managers, one important priority is being able to track vital information about their staff members – their hours, wages, performance and so on. This is extremely important when it comes to complying with HR legislation like the Affordable Care Act. Your HCM solution needs to accurately manage the highly complex eligibility, affordability and reporting challenges the ACA requires of employers.
Making information more visible
On the employee side, it’s great to have fast access to information about your job the moment you need it. Need to make a time-off request, review employee tasks, or look into the status of your latest paycheck? No problem – with an upgraded solution for managing HCM, all of that information is accesses anytime via multiple platforms (web, smartphone, tablet or any other device).
Download our whitepaper Dayforce HCM: The Burden of Not Switching Your Human Capital Management Solution to learn more.
Join us for one of our related conference sessions at INSIGHTS 2015 in Las Vegas.
- Barnes & Noble – A Tale of Workforce Management: How Barnes & Noble Solved Their Scheduling Challenges, Thursday, July 16
- Implementation Best Practices to Ensure Maximum ROI from Your Dayforce Solution, Thursday, July 16
- End-to-End Human Capital Management with Dayforce HCM, Thursday, July 16