Over the last decade, North America has seen some phenomenal economic growth. Because of that growth, some unique challenges have followed. Of course, everyone wants to get the best people possible to help drive their company goals and objectives. With low unemployment, and the mobility of today’s workforce, finding and keeping the best people is near the top of every HR team’s priority list. Studies show that nearly 70% of employees are more likely to stay with a company if they have a positive onboarding experience, and a great information management system is where that starts.
Employee engagement is one of the key indicators to determine the success of an organization. For example, companies with highly engaged employees see 59% less turnover. These same companies experience a 41% reduction in absenteeism. Being able to communicate these metrics to management shifts the HR role to a strategic business partner.
The records you keep for each employee are the physical manifestation of your relationships. Great information and record keeping processes can help facilitate quality relationships.
Employee records include many elements. The data associated with benefits contains a wealth of information. Beside open enrollment, employees can only make changes to their benefit package for special reasons. For example, events like marriage, children being born (or adopted), and in some cases other life altering events trigger the opportunity for updates. Whenever these things happen, the employee record is changed. Beyond benefits, an employee record may have a note for requested time off. For instance a death in the family, a wedding, or even maternity and paternity leave.
Virtually every company, large or small, receives this data. But what do you do with it?
Imagine a system and process that would allow your team to see these events for what they are. These events are some of the most personally devastating or most joyful moments in a lifetime. What if your process could extract this information from your system at just the right time, and allow you to act on the information? For instance, a well-placed flower arrangement to let your employee know you’re thinking about them. Or a gift card for baby supplies would go a long way. Every time these things happen, you can let your employee know you care. And what does your employee think?
It’s always the right time to do right by your team. The cycle of business and the economy go up and down. During those cycles, the information you already have can help you make better decisions. Keeping your team engaged with the organization can be done, and you’re in the right position to make that happen.