Talent acquisition is a time-consuming and costly process. According to Recruitorbox.com, below are the average amounts of time and money HR teams spend during the hiring process.
|HR Task||Time (hours)||Average Cost|
|Job board posting||1.5||$37.50 to $457.50|
Prepping for interviews
Final stage activities (final interviews, testing, calling other applicants, reference checks, and hiring)
|38 hours||$944.00 to $1,364.00|
Manual HR tasks can take even longer and therefore become even more expensive, which is why we recommend you utilize an electronic HR solution. Let’s go through some examples and four major benefits of a paperless HR solution.
#4 Less Confusion - Applicant Tracking and Employee Screening
Managing a large amount of candidates and employees can be overwhelming. Most of the confusion arises during the first stages of hiring for a position. It's during the applicant tracking and employee screening process where you have to manage an overwhelming amount of details and paperwork. During the applicant tracking and employee screening process, details about candidates can be easily forgotten. Paperwork can be misplaced. For example, here are some common tasks and management items:
- Contact/Personal Info
- Background Data
- Motor Vehicle Reports
- Criminal History
Instead of trying to organize and manage all the above details in a spreadsheet, an HR solution can do it for you and save lots of confusion. For example, Job Align pre-populates information during important parts of the applicant tracking and employee screening process.
#3 Less Paper - Onboarding
Making HR paperless cuts down on company paper costs, eliminates hand-written inaccuracies, and helps the environment. With a paperless HR solution, your team can address important parts of the onboarding process electronically:
- W4 / I9
- Work Opportunity Tax Credit
- Emergency Contacts
- Benefit Elections
- Direct Deposit
- ACA Compliance
All of the above onboarding paperwork doesn't have to be done on paper and sent via snail mail. When you do this paperwork by hand, you also have to file it in your office manually, search for details manually, send copies manually, etc.. All that time adds up - think of what else you could be doing instead!
When you have an electronic HR solution helping you with onboarding paperwork, you save time and money. Forms can be sent via email, completed with a few clicks, and sent back to you within a matter of minutes.
#2 Less Time - Time and Attendance
Having to enter the same data repeatedly is frustrating and time-consuming. An integrated solution that shares data decreases the time-per-hire and gets people to work faster. With electronic time and attendance solutions, you can increase the accuracy of and spend about half the time addressing:
Time and Attendance
- Time Clock Data
- Overtime Data
- Attendance Info
- Paid Time Off
- Schedule to Manage Expenses
Mitigating the possibility of inaccuracies is an invaluable benefit. An electronic HR solution can also capture location, which is great for managing remote employees in today’s work-from-home (WFH) landscape. Instead of wasting time checking on each employee one-by-one, an HR solution can do it for you.
#1 Less Money - Payroll Management
Paying employees is one of the most important functions of a company. Making this process more streamlined, collaborative and transparent helps to better manage the most valuable asset – the team!
Many HR departments unnecessarily suck money out of company pockets. Think of all the payroll activities you’ll have to manage manually. Doesn’t it make your head spin?
Here are some of the payroll management activities you could address electronically instead of manually:
- Payroll Processing
- Tax Filing
- Employee Self Service
- Manager Self Service
- General Ledger Interface
- Custom Reporting
Streamlining the hiring process makes everyone more productive, decreases the overall cost-per-hire and turns HR into a cost-saver.
Conclusion - putting it all together
Investing in a solution can save you time and money in the long run. With electronic solutions, you can conduct the following routine HR tasks easily:
- Applicant Tracking
- Employee Screening
- Time and Attendance
- Payroll Management
While implementing an HR solution may seem costly at first, you can save time and money in each step with an electronic HR and payroll solution in the long run. Mitigating the possibility of inaccuracies is an invaluable benefit. Plus, did we mention that an electronic HR solution allows you to house all of your important information in one place?
If you need to set up payroll for your organization, we customize your solution according to your needs, add in your employees for you, and more. Contact us today to get started.