3 steps to improving the employee onboarding process

3 steps to improving the employee onboarding process

A company's most important investment is its people. The cost of employee turnover is exceptionally high. In fact, a company can spend between 16-20% of an employee’s annual salary trying to replace them! That’s why so many companies are investing in technology that will enhance the first impression and streamline the HR onboarding processes that are proven to increase retention.

If you’ve only got (on average) 30 days for new hires to decide if their job has long-term potential, you can’t waste the investment on out-of-date processes, disorganization, or inaccuracies.

Even before walking through the door on day one, a new employee interacts with many people and departments within your business. It's easy for him or her to quickly assess your company’s level of organization—or lack thereof. Read on for three steps to you can take to start improving the employee onboarding process.

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3 major trends impacting finance departments in 2019

3 major trends impacting finance departments in 2019

Every year, the way we do business shifts, morphs, and adapts to current expectations. The finance department is subject to the same impacts, and in turn, sees emerging trends that impact processes year-over-year.

Looking toward 2019, we're predicting that these trends include the rise of automation technologies, greater conversation around data privacy and content management, and the ever-growing demands of a mobile workforce. Curious how these finance department trends will impact your day-to-day processes and decision-making in the coming year? Read on.

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What is business process reengineering?

What is business process reengineering?

Business process reengineering is not a particularly new term or methodology. In fact, it made its first appearance in an article in the 1990s, 20-some years ago.

This article was written by Michael Hammer, a computer science professor at MIT. Hammer defined business process reengineering as the act of recreating a core business process with the goal of improving product output, quality, or reducing costs.

What is business process reengineering? It's a company's approach to change: rethinking how technology could be used throughout their workflows to create new processes. Typically, this involves first analyzing these core workflows and identifying processes that are under-performing or inefficient and then finding technology solutions to better them.

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How the rise of electronic forms helps business process reengineering

How the rise of electronic forms helps business process reengineering

Many companies—and some industries—still rely on paper for their core business processes and operations. But the “go paperless” revolution has brought on new technologies that are designed to overhaul the processes that have traditionally required paper documentation. Technology, like enterprise content management (ECM), has been a major motivator for companies to implement business process reengineering methodologies.

"Reengineering" in this case means radical change, not just minor adjustments to negligible issues in your workflows. This technology is meant to disrupt the way you’ve always done it when it comes to data capture, record storage, content and document management, and information exchange. How can electronic forms help you reengineer the core processes in your business?

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3 business processes your finance department should be updating

3 business processes your finance department should be updating

To say the role and value of the finance department is continuously changing would be a gross understatement. When it comes to business process reengineering, finance is often the first place to start! Finance department processes are great candidates for automation. Automating finance processes can:

That’s why finance leaders within your organization should be tasked with business process reengineering objectives to ensure that the department is consistently producing efficiencies. Here are three areas where updating through process reengineering in your finance department will make a significant impact.

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