Asyma E3 2012 - Human Resource Management Systems - What’s your return on employee investm…
Human Resource Management SystemsWhat’s your return on Employee Investment?Keith Greeno, TJ Tokariuk, - Asyma SystemsDan Papakonstantinio - Manusonic
Agenda• What makes an Organization?• Return on employee investment• Investing in Employees• Revenue/value base on employee knowledge• Cost of Turnover• Reasons for turnover• Investments to help with Employee retention• Questions?
People• They make the difference• How we manage them makes a difference• Direct correlation to business results … a cost that creates future value and pays out over time… Oxford dictionary
Return on Employee Investment™ Retirement Recruiting Promotion Onboarding Policy Career Development Human Communication Performance Resources Compensation Evaluation H&W Benefits Training Payroll Leave
Human Resources: more than Admin HR Managers Payroll Project managers CEO/CFO Employees
Investing in EmployeesInvesting in technology: Increased efficiency effectivenessInvesting in Employees Revenue/Value Cost
Revenue/value• Google/Apple value based on knowledge – Computers don’t have knowledge – Factories and equipment don’t have knowledge• GM and Ford worth a fraction of Google – Why?• Chief Source of Wealth is Intellectual Capital
Revenue/value side• Gallup - Firms with High employee engagement experience an earnings per share 2.5% higher than low engagement firms• JC Penney – 10% more sales in stores with engaged/happy employees• Manpower – centers with high employee satisfaction had high customer satisfaction• Harvard Review - Those organizations that invest in talent management significantly outperform their competition
Reduce administration timePAYROLLEmployee time is collected, approved and stored in one location eliminating the need to manually re-enter or transfer this information.JOB COSTINGThe job cost integration provides your employees with detailed project structure, allowing them toaccurately allocate their time.ACCOUNTINGCost centers can be easily associated with functions or labor types for GL integration using theaccounting integration module.HUMAN RESOURCESIntegration to HR management software reduces the amount of time normally associated withemployee time clock enrollment and ensures up-to-date employee information.HEALTH & SAFETYProvide employees with access to information such as operating instructions and manuals, guidelinesand procedures, or create a direct link for employee access to health and safety applications.QUALITY ASSURANCEProvide your employees with access to on-line knowledge bases, technical manuals and troubleshootingguides by configuring the custom document links.
Reduce employee turn-over– High cost– SHRM: $3,500 to replace a $8/hr employee– Ross Blake: Entry - 30% - 50%/Salary– Ross Blake: Mid-level - 150%– Ross Blake: Specialized and hi-level - 400%
Reduce employee turn-over• Often over-looked and under-estimated – Separation – Vacancy – Replacement – On-boarding – Training – Ramp-up
Why do employees leave?1. Poor management2. Lack of career growth opportunities3. Poor communication4. Paid under-market5. Lack of recognition6. Poor senior leadership7. Lack of training8. Excessive workload9. Lack of tools and resources10. Lack of teamwork
Investments to increase retention• Information• Communication• Work environment• Employee engagement• Employee recognition• Training• Benefits
Information - Centralized Organizations need a single source of truth for employee information .
Communication• Employee Self Service (ESS) portal• Performance appraisal and talent management• Workflow management• Data monitoring and alerting tools• “Employee community”
Work Environment• Office design, building• Tools• Interaction and collaboration• Telecommuting• Flexible hours• Employee self-service portal• Informal learning and community building• Paperless processing
Engaged employees• Work smarter• Look for ways to improve – And find them• Communicate and share knowledge• Are creative• Provide suggestions and advice• Speak up for the organization• Go out of their way to meet customers’ need
Employee recognition• Formal and informal• A reward is not the same for everybody• Increased quality rather than increased effort• Frequent• Link to business objectives
Employee recognition• Single point of truth• HR Analytics, dashboards• Employee self-service• Talent management system• Informal learning
ROEI: what it can do for you• Justification of investments – Increase revenue/knowledge – Reduce administration costs – Reduce turnover costs• Answer to changing needs• Getting the interest from CEO and CFO• It’s all about the business results
Questions?We do more than measure value, we help create it.Our expertise in management, accounting and technology can help you grow a successful business. – Analyze & streamline business processes – Business improvement support – Customize business system design – Manage costs and enhance revenue – Technology enhancements • Software selection • Implementation and training • Ongoing support#1520 36th Street North #200 10520-178th Street #1309 151 Country Village Rd NE Lethbridge AB T1H 5H8 Edmonton AB T5S 2J1 Calgary AB T3K 5X5Phone 403-328-8188 Phone 780-448-9895 Phone 403-807-8985Fax 403-381-8057 Fax 780-447-4960 Toll free 1-877-448-9895