Executive Summary
US companies are spending over $10 Billion to manually process new hires and terminations, an area of the business that Human Resources executives have long struggled with how to automate this process. With an estimated 25 activities required to hire an employee, which requires everything from notifying the mailroom, IT, security, insurance providers, pension administrators, department managers, payroll, and several other related areas of the company, it is not difficult to imagine how time consuming these activities can be, not to mention the room for human error. And with at least 15 required activities to terminate an employee, the problem of manually pushing paper by the HR department only gets worse. Industry experts are predicting that HR departments are facing major changes in their organizations, including a reduction in HR staff and increased outsourcing. The solution to this costly problem comes in the form of new technologies, which are designed to completely automate the paper process.
The following article discusses one such solution, which was introduced to the human resources marketplace as one of the most promising new technologies.