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Reasons HR Executives Champion Improved Document Management & Why You Should Too
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HR departments are between a rock and a hard place: While HR takes on a more prominent strategic role in corporate organizations, with 70% of survey respondents saying HR has a place on their company’s board of directors,1 HR departments continue to be bogged down by administrative tasks and routine paperwork.
To combat this issue, innovative HR leaders are championing organizational transformation and adopting more efficient technologies for handling HR documents. Here are five reasons why:
Today’s organizations are often distributed across multiple geographies and business units. With multiple offices and disparate policies, HR documents may be digital or paper, stored in file cabinets, desk drawers, or on hard drives. When employees transfer locations, records may be left behind. All of this creates chaos and wastes time when you need to find documents quickly.
HR staff spends more than half its time on routine paperwork. Only 10% is spent on strategic initiatives.2
Privacy concerns have resulted in a wave of data-protection regulations such as HIPAA in the U.S. and GDPR in the EU, which makes the day-to-day job of HR even more complex. Additionally, many corporations have instituted their own mandates to avoid reputational damage and costly litigation from data breaches
The average cost of a data breach in the U.S. in 2017, up 5% from 2016.3
With HR departments focusing more on strategic initiatives like training and retention, the less time spent on paperwork, the better. HRIS and HCM systems can streamline processes such as onboarding and self-service benefits. However, these systems do little to corral the growing mountain of documents that these tasks generate, and they are generally not purpose-built for secure and compliant HR document management.
Percentage of best-in-class companies that begin onboarding new employees before day one.4
A critical task of any HR document management solution is to ensure that all employee files are complete and up to date. Yet an Access survey indicates that just 6% of HR departments are very confident that their employee files are complete.5
Just 6% of HR departments surveyed felt “very confident” that their employee files were complete.6
The risk of data leaks and unauthorized access is highest when documents are shared, whether internally or externally, via email or paper.
47% of data breaches are caused by malicious or criminal attacks, 28% are due to human error, and 25% are caused by system glitches. 7
A modern, proactive approach to HR document management offers your organization the assurance that its essential documents are complete, compliant, accessible, and secure. This can dramatically reduce the paperwork burden for your HR team, enabling them to focus on more strategic responsibilities.