July 13, 2023

7 Ways HR Solutions Optimize Business Value

Seven ways HR solutions optimize business value

7 Ways HR Solutions Optimize Business Value

HR processes are at heart of a number of challenges organizations face, all of which are related to business value and risk mitigation. The INTO encyclopedia summarizes company's growing interests in human resources as follows:

“Human resources issues are a source of business risk. Personnel issues can affect a company's production. The need to retain certain key personnel can lead to increased payroll costs, and loss of key personnel can affect company's performance. and profitability. For example, if one of company's best salespeople works for another company, or if company loses a key product designer. This category of risk includes managerial risk - risk that company's management will make wrong decisions.

Business value

How do organizations implement collaboration technologies? How has nature of work changed? How to find and retain best talent? How can we improve employee engagement? Will fundamentally changing nature of work affect competitive results of organizations, or will we view this period of experimentation as a passing fad?

There are clear signs that we need to change way we manage employee information systems on a day-to-day basis, and HR leaders should lead change. Research by McKinsey, Interact, and IDC concluded that knowledge workers spend an average of 20-30% of their day searching for information they need.

Here are 7 areas where HR solutions optimize business value:

  • Easy integration with on-premises process solutions or SaaS solutions.
  • Ease of use, including mobile access.
  • Simple and fast implementation.
  • Automate digital signatures and workflows.
  • Security and full audit trail.
  • Keep your personal information safe.
  • Built-in workflows for regulatory compliance.
  • Risk de-escalation

    How can we protect our organizations if our systems are more open, responsive and collaborative? How do we document what happens between staff and employees without getting in way and at same time relinquishing control?

    Think of sheer volume of documentation related to HR processes:

  • Job requirements;
  • Job application;
  • Resume;
  • Preparation and adaptation of a new employee to work;
  • vacation;
  • Notification of an employee's status change;
  • Recommendations from employees;
  • Schedule processing and leave/holiday tracking;
  • Trip request;
  • Reimbursement of expenses;
  • Exit interview.
  • According to cad expertsframes, retention requirements for these HR documents vary greatly, so handwritten documents will expire by time they arrive. What is their offer?

    1. Don't keep records "just in case" just for legal, operational, or archival reasons.

    2. Save and destroy documents systematically.

    3. Create segmented records according to retention schedule.

    4. Do not keep unscheduled temporary materials such as drafts, reminders, worksheets, or extra copies.

    5. Don't rely on documents solely for their emotional or social value. Information must be preserved like any other asset. A comprehensive record of past promotes "company memory," which can be an asset, but necessarily minimizes your legal liability.

    Reducing risk while creating business value is not an easy task. This means that an automated approach to managing HR documents and processes is critical for organizations. HR leaders can and should take lead in implementing these new approaches.