Can Your Company Save Money This Year? The Impact Employee Self Service for Small Businesses Can Have on the Bottom Line
What is the biggest benefit of employee self-service for small businesses?
According to Oracle, employee self services for small businesses have changed from cost-cutting tech to features with the ability to generate revenue. Even the smallest companies can take advantage of these benefits. By paying attention to the soft value of these tools, business owners can use them to both cut costs and increase profits.
Confidence Breeds Competence
Employee self-services, or ESS, allow your workers to feel like they have more control at work, and they feel trusted when they donâ€™t have to run all of their requestsâ€”to see their own recordsâ€”past HR. This confidence lends itself to performing at higher levels. Your sales staff will sell more. Your research and development department will show greater innovation. You realize immediate practical benefits, along with the potential you open up for your human resource staff.
Clearing Out Menial Tasks
ESS portals focus on those tasks that really waste your HR talent. Theyâ€™re things nearly anyone can do when given the right instructions and tools. Here are just a few of the jobs ESS can take off your HRâ€™s shoulders and give to individuals to handle for themselves:
- Updating contact information
- Updating dependent information
- Change beneficiaries and benefit plans
- Monitor company role and salary information
- Review benefits, company policies and general employment info
Improving Employee Morale and Benefit Participation
Job satisfaction has a major impact on productivity and profitability. An employee who is happy to show up to work helps the morale of everyone in the workspace, and people are happier when they donâ€™t have to put in requests and get permission to review their personal information. In addition, having easy access to benefit information and enrollment forms increases the chances that your workers will invest in products like section 125 plans or retirement savings accounts. These are the types of benefits which make the biggest impact on loyalty and job appreciation. Having more people involved means lower turnover, higher performance and ultimately higher profits for your business.
Putting Skills to Best Use
Most importantly, it allows your skilled HR workersâ€”many of whom have masterâ€™s degreesâ€”to focus on jobs that require a specialistâ€™s expertise. They, in turn, feel more confident, more competent and more important at work. This leads to a skilled workforce experiencing higher levels of satisfaction and loyalty and lowers turnover rates in higher paid positions where losing and gaining new workers really begins to take a chunk out of your companyâ€™s earnings.
This stream of satisfaction flows uphill, as departments perform better, reflecting well on the managers in charge of them, and demonstrating higher earnings and lower expenses. ESS platforms are easy to put into place and have a significant impact on your operations, from the bottom on up. You can improve efficiency, become a sought after employer and make more money with a few simple tweaks to your HR practices.
Discover which top-performing employee self-service for small businesses your company can implement today. Call 770-962-1700, or click to talk to the experts at Einstein HR.