We’ve been enticed with visions of a “paperless office” for 30 years, and yet there seems to be more paperwork than ever. Aside from the costs of buying paper and printing, it has to be shipped and eventually archived or disposed of, further increasing costs.
Human resources (HR) processes are especially paper-intensive, and still depend heavily on printing documents for signatures. One estimate says use of paper can add three days to a document’s turnaround time, and that’s assuming there are no mistakes in filling it out. Furthermore, an estimated 7.5% of documents are lost and 15% of them are misplaced.
Many small and medium businesses have limited personnel and resources for managing the massive amounts of paperwork involved in HR processes, and must work hard to identify ways to increase efficiency, lower costs, and reduce mistakes involved with paperwork. There are several ways to do this.
Sure, You Can Implement Systems to Reduce Paper
One way to cut back on the flurries of paper that accompany so many HR tasks is to invest in software systems that allow electronic signatures and sharing. These can save tremendous amounts of paper, but they represent a serious capital investment, and involve extensive training or retraining of HR personnel in their use. For a small or medium sized business, this can be impractical, and many businesses simply continue with paper-centric HR processes that have worked, despite the hassles and costs associated with dealing with massive amounts of paper. However, there are other options worth exploring.
Partnering with a PEO May Be Your Best Option
Professional employer organizations (PEOs) partner with businesses of all sizes and for a negotiated fee structure take care of various HR functions, like payroll, benefits administration, and keeping up with the administration involved with bringing new hires onboard. Some PEOs even offer extended services, such as recruiting and hiring. Since these companies are dedicated to performing HR functions, they invest in systems that cut down on waste and reduce paperwork so they can perform their functions with maximum efficiency.
Outsource Some or All of Your HR Functions
With a PEO, you can outsource one HR function that is a “pain point” to your business, or you can outsource multiple functions. Many small businesses choose to partner with a PEO because they realize a return on investment when their PEO allows them to offer employees better benefits packages, or when their PEO helps them avoid costly mistakes in processes like payroll tax calculations. For many businesses, the cost of just one tax calculation error is greater than the cost of working with a PEO and avoiding such issues in the first place.
Choose a PEO That’s As Committed to Paper Reduction As You Are
PEOs vary widely in terms of the services they offer and the systems they use. Choosing a PEO should involve thorough research, and possibly guidance from firms that specifically help small and medium businesses choose the best PEO for their needs. You can also ask candidate PEOs about how they minimize the deluge of paper that’s involved with so many HR processes and choose a PEO with a similar business philosophy about the importance of cutting back on paper usage (and the problems excess reliance on paper can bring).
Spend Your Valuable Time Running Your Business
Perhaps the greatest benefit to working with a PEO, aside from cutting down on paper usage and waste, is that it allows you and your key employees to focus their efforts on core business functions that help your business thrive and grow. Knowing that essential HR processes are taken care of by experts allows you and your team the freedom to concentrate on improving core business processes, innovating new products and services, and keeping your customers and clients happy.
Choosing the Right PEO for Your Business
SourceOne Partners works with small and medium businesses to help them identify and work with the right PEO for their specific needs. With over 50 years of combined experience in the payroll and PEO industries, SourceOne Partners helps businesses in all 50 states find solutions that help them save money, minimize risk and liability, maximize regulation compliance, and best of all, focus on the reason they started their business in the first place. If you would like to know more about how you can reduce paperwork while achieving a return on investment by partnering with a PEO, contact SourceOne Partners online. You can also call us at 561-674-0748. We look forward to hearing from you and helping you solve your HR problems.