Benefits of Self-Service Technologies for Your Company
As job creation surges and the overall
workforce becomes increasingly more tech-savvy, the effectiveness of self-service
technology has also jumped significantly. Not only do these solutions encourage
employees to participate in basic HR tasks but they also ensure accuracy and
From managing the onboarding process, to setting up direct deposit, to keeping contact information up to date, examples of self-service technologies appear all over the place and consistently help companies to run more efficiently.
Reasons to use self-service technologies in your company
Leveraging self-service technologies has widespread
impact not only on HR professionals tasked with managing their workforce, but
also on the workforce itself.
The Growing Expectation of Technology
Although the total workforce currently spans
five generations, millennials are expected to make up 50% of it by 2020. This
younger generation is familiar with technology, and they expect it to be
leveraged whenever and wherever possible.
As a result, replacing paper-based HR processes with digital ones are welcomed improvements for maintaining happy employees going forward.
Studies show that the larger a company is, the more time is spent by HR teams doing manual tasks. Using digital solutions for common tasks like requesting time-off and accessing payroll information frees up these people’s time to perform more impactful duties with longer-term benefits to company culture and employee retention.
When employees can access and update important information themselves – as opposed to having to fill out a form or email an HR rep – the information is more likely to be accurate. Employees are much less likely to misspell their own name or mistype their banking information, especially since doing so could result in delaying their paycheck. Plus, it removes the opportunity for clerical errors or illegible penmanship.
Storing information digitally in the cloud is also more secure than tracking paper forms or keeping up with email threads. By setting up a security model where access to edit certain information is limited, self-service technologies are immune to issues that historically plague HR teams like losing, destroying or misplacing paper.
Research shows that a good employee experience has a positive impact on customer experience. For this reason, many companies are focusing their efforts on optimizing the employee experience in hopes that it will trickle down to the customers and ultimately their bottom line. Small businesses can improve the employee experience through self-service, which allows your small business team to log into their account anytime to view their paystubs, update withholding information, request time off, or submit an expense reimbursement request. This gives your staff the resources they need to answer their own questions or resolve issues.