In a December 2023 updated report, Ernst & Young (EY) found the average cost per manual data entry made by an HR professional increased to $4.78. Read about EY’s latest findings for more information.
How much are you losing by not using HR tech? Most people have no idea. Let me tell you … it’s a lot. Especially when you have to do the work employees could easily be doing themselves. That keeps you from pursuing strategy that drives your business forward. But shedding this administrative burden requires more than just your desire to do so. It also requires 100% accountability from your workforce.
To achieve that, we’ve given our clients a new tool, Direct Data Exchange®. Using recent Ernst & Young research that pinpoints each manual entry of data as costing $4.39 on average (and that number assumes no errors), the tool calculates in real time the money you save when your employees use self-service technology to complete their own HR tasks.
Even more valuable is that it also shows you when they’re not completing their own tasks, whether that be:
- entering time
- requesting PTO
- selecting benefits
- submitting expenses
- or more.
Because when someone does that on the employee’s behalf, efficiency and productivity decrease, and the risks of errors and noncompliance increase.
Accountability is key
With Direct Data Exchange, you can hold your workforce accountable for 100% employee usage of Paycom to maximize optimization of HR processes. That way, you can spend more time focused on people, not paper. You also can use the cost savings to justify engagement and wellness initiatives to attract top talent and boost retention in an increasingly competitive market.
It works. I know because we’ve used it ourselves. Requiring your employees to fully utilize Paycom is a win-win for all areas of your organization.
