Middle market business leaders face a common dilemma: how do we capitalize on the substantial opportunities for growth, and at the same time hold the line on expenses and figure out how to do more with less? Fresh ideas and creative solutions are imperative to align your business strategy with your growth goals.
THERE'S AN ART TO AN EFFECTIVE HR DEPARTMENT
On-boarding and talent management should be just as exciting as an employee’s future with your company. So why do so many companies seem to start off on the wrong foot with a stack of paperwork and endless handouts with indecipherable insurance terms? Technology solutions reduce workload and provide a great first impression for new hires.
It really comes down to three challenges each business owner experiences:
The increased demand and complexity of compliance and administration requirements.
From the IRS to the Department of Labor, employers are being asked to keep track of more information, do it in new and more complicated ways, and report more than they ever had to. This level of due diligence is difficult to keep up with, considering the rest of the tasks a business owner has on his or her plate at any given time.
Lack of dedicated resources.
As mentioned, this is especially hard for small to medium size companies who tend to have thin HR departments, if any at all. Just keeping on top of the fast changing requirements from taxes to healthcare is more than a full-time job that many businesses can't afford to maintain.
Lack of modern HR technology to streamline it all.
85% of small to medium size companies are operating out of file cabinet, spreadsheets, and outdated paper heavy workflow. The sales team has CRM, the finance team has accounting software, the marketing team has Google analytics or similar... but what does the HR have? Being able to remove the transaction paper heavy workflows and managing everything through a modern HR technology solution is where everything is going.
Technology solutions are empowering HR and administrative functions in companies the same way that QuickBooks empowers finance and accounting departments. It enables a company to move everything to a digital experience, manage employee data and documents like a virtual file cabinet, and streamlines all of the messy HR workflows like employee onboarding and benefits administration, to name a few.
The convenience of benefit administration technology delivers a delightful HR on-boarding experience that energizes your new employees while radically streamlining your HR and benefits paperwork.