Upgrading or replacing HR & Payroll systems with the latest tech is often so costly and time-consuming, that many companies just postpone and try to cope with the legacy systems. However, relying on legacy systems can lead to inefficiencies, errors, and increased operational costs, which significantly undermine the return on investment (ROI).
What are the costs of using outdated systems?
- Impact on Employee Satisfaction and Experience: Outdated cumbersome tools and inefficient processes can be very frustrating for your employees, leading to poor engagement, decreased productivity and lower morale.
- Productivity: Outdated systems often require more human intervention, resulting in higher employment costs. Time spent on manual processes can be better spent on streamlining processes, strategic initiatives and upskilling employees.
- Compliancy Issues: Manual errors and failure to comply with evolving labour regulations can lead to costly compliance challenges, potential fines and legal issues.
How to calculate the Return on Investment (ROI) for HR Tech?
Upgrading to the latest HR technology can deliver substantial ROI through improved accuracy, compliance, and productivity.
- Employee Retention: Automation and streamlined processes reduce errors and allow HR teams to focus on strategic initiatives and skills development, helping to improve employee satisfaction and retention.
- Improved Employee Engagement: User-friendly self-service tools and personalised experiences boost employee satisfaction and morale.
- Reduced Compliance Challenges: Automated processes and up-to-date regulations minimise the risk of costly errors, penalties, and legal issues.
- Data-Driven Decision Making: Access to real-time data and analytics enables more informed and strategic HR decisions.
Bridging measures and solutions:
There is also an easy and very cost-efficient alternative to upgrading systems. Mintor’s AI Chatbot-Tech as add-on to your existing systems (HRM, Payroll, ATS, LMS and more), provides companies with a way to bridge from old-school to cutting-edge in a matter of hours, significantly increasing HR team productivity and employee satisfaction.
For example, through Bot-driven Whatsapp menu’s, employees can get instant access to their payslips and benefits details, and be provided with automated answers related to general queries, which reduce HR admin time by average 60%. WhatsApp Bots can also automate screening of large volumes of job applicants, giving recruitment teams instant insight into the best-fit pool of candidates, reducing their manual work by up to 90%.
With 85% of job seekers and workers already using WhatsApp, our intuitive AI-enabled tools allow organisations to reach and support anyone, anywhere, at any time, in a radically more efficient manner.
