Digital Employee Records Management
Improving the efficiency and productivity of your HR resources
The increasing number of workforce transformations directly translates to large volumes of employee records and an equally greater effort required in managing these records. On average, UK based organisations maintain 50 records per employee which includes documents like P60's, P45's, health insurance details, performance sheets, holiday requests and even email communications. Each record costs between £5-25 to record, update and retrieve.
The cost of managing paper records could quickly add up and a digital records management system helps control these costs by automating downstream paper internsive HR processe. According to research conducted by Frost and Sullivan, the biggest driver for switching to digital employee records is the improvement in efficiency and productivity of HR resources.Managing employee records in digital format not only reduces administrative costs, but has the following long term benefits:
Improving efficiency of HR resources – Faster, secure access to employee files improves the productivity of HR resources, as they no longer waste time in non-productive administrative tasks and file management. Globally distributed HR functions benefit greatly from digital records, as documents can be accessed from any location.
Improved compliance – Changing regulations, workforce laws and changing legal demands such as e-discovery could increase the cost of maintaining and updating records. Digital records management reduces the risk of non-compliance while keeping costs low. All employee records as well as communications can be securely stored and retrieved quickly with keyword searches.
Centralising records management – Maintaining different record centres at different locations could prove very costly, whereas digital ERM (employee records management) makes it possible and cost-effective to manage all HR records in one low cost centre.
Better governance, control and reporting – Huge benefits are realised by organisations with outsourced functions such as payroll as digital records make it easy to maintain control over sensitive employee information.
Lower records archiving costs – Human resource records occupy a large amount of office space costing a lot in storage, boxes, etc. Choosing digital storage can reduce this cost to the benefit of other core business needs.
In addition to implementing digital records systems in-house, organisations can also use the DCS "record on demand" model, where DCS act as your records management digitising and storage service, providing secure access to documents on demand over a web browser.