Every company has a Human Resource function and properly managing workforce records is critical. But continuing to work with paper files is not only archaic and cumbersome, but a huge security risk, especially when processing, storing, or sharing confidential information such as employee applications or background checks, health insurance forms, performance reviews, reprimands, or financial information.
Implementing professional document management software is a popular and forward-thinking approach to improving Human Resource functions for three major reasons:
With document management software, HR records such as applications, résumés, and new employee forms, W-4s, and insurance documents can be stored instantly in an electronic, secure, yet easily searchable format. Electronic filing of HR documents increases efficiency by eliminating the need for filing cabinets and off-site storage and making it easier to file and retrieve information. Routine HR processes that are traditionally documentation-centric, such as vacation or time off requests, expense reports, or annual reviews can be processed and filed and retrieved electronically from any workstation. This hastens the approval process and the transfer of information while eliminating lost or misplaced files. Document management software can also automate the distribution of company policies and training materials.
Certain HR-related documents are highly sensitive and confidential, and therefore fall under regulatory requirements for restricted access and retention. A good document management software system will provide the necessary security for electronic files, controlling access at several levels and recording a detailed history of activity that can be reviewed and audited.
A comprehensive document management software package can help you meet local, state, and Federal privacy and security regulations regarding proper record keeping and long-term file retention like Sarbanes-Oxley, SEC, FINRA, HIPAA and others.