As a job and HR outsourcing agency in Hong Kong, we’ve written countless articles on how job seekers can use the new year to their advantage. But we’re also a hr outsourcing company, so it’s only natural for us to write articles on how HR can better themselves.
To our human resources readers, this is the article for you to start the year off with a bang! Here is everything you need to know to speed things up in your human resources department.
1. Outsource Transactional Work
Let’s be real, there are some tasks out there that slow both you and your HR department down. Transactional HR work refers to the administrative tasks that the human reasources department will have to do. Think about the process oriented tasks (i.e. payroll calculation, benefits administration) that requires a lot of time and focus to complete. There is no room for mistakes when dealing with payroll.
However, below, we’ve listed six common and costly payroll mistakes:
Inaccurate employee details: Employees are capricious beings. They’re constantly evolving. As such, so will the information in your employee database. Information such as age, nationality, joint date, immigration status, and banking details should be updated constantly for accuracy’s sake. Inaccuracies here will unneccessarily frustrate your employees.
Human error: To err is human. But there should be limits to human error, especially when it comes to payroll. Organizations in Hong Kong might brush aside the need for a payroll management software in favour of cost savings. But errors can occur, especially when there’s a need to calculate things that are out of the norm (i.e. contributions from employees serving NS, part-time employees, employees serving probationary notice, as well as CPF contribution).
Delays: To an employee, there is nothing worse than a delay when it comes to your salary. A delayed payment can affect their expense plans as well as their GIRO payments.
Outsourcing these tasks allows human resource specialists to free up time and focus on other areas that will benefit the company a lot more.
2. Outsource Your Hiring Process
HR specialists, we say this in the nicest way possible, but your hiring process is too slow. Let’s recap. Christmas was less than a month away, and so was the New Year’s and Chinese New Year holidays. Needless to say, your organization’s human resources department might have been quite inefficient due to the countless holidays. These holidays do nothing but slow your company down, especially when you’re looking for the right talent to join your organization ASAP.
Large candidate pools, insufficient talents on the go, and slow interview process are some of the reasons why the hiring process can take long to fill. But the truth is, that the department is constantly bombarded by a number of other duties which ultimately extends the hiring process.
Delays due to holidays add more time to the already slow hiring process. A lag in hiring poses a huge problem to the organization. It means that you’re losing out on top talent available in Hong Kong. Add the number of days you’ve missed out on work due to a holiday to the average time it takes to fill (i.e. 42 days) an employment spot.
You should outsouce your hiring process if….
You’re spending lots of money on advertising, crafting, and marketing your job post
You’re wasting too much time on creating the ideal employee persona
You don’t have the reach to find an experienced candidate for niche industries
You have no idea what the ideal candidate to fill the role should look like
3. Work Faster
Don’t take this the wrong way. But the human resources department can be quite slow at times. No, this does not mean that you should speed through your tasks (i.e. your hiring process). In fact, making the mistake of hiring the wrong person can cost you a lot of money (i.e. US$3,600).
In fact, the HR department is not one that responds to mistakes easily. Oversight in this sector often leads to additional expenses. For instance:
The average sexual harrassment settlement costs US$250,000 (approx. S$340,792.50)
The average discrimination lawsuit can cost US$125,000 (approx. S$171,046)
The average cost to recruit ONE employee is US$3,665 (approx. S$4,995)
There is a lot more to the human resources department than just hiring and firing. In fact, one of the most detrimental mistakes a HR department can make is poor communication to an employee. Oversight like not updating the employee handbook and not informing your employees about the latest updates can lead to severe consequences.
Think about it, one way to reduce the number of workplace violations is by putting all your policies down in writing and disseminating this information to your employees.
Pro-Tip: Employees not reading the handbook to stay updated? Well, try revamping it! Include hyperlinks, memes, and images. Learn more about developing HR policies for Millennial and Gen Z employees here.
There you have it, three tips to make you a better HR personnel this 2020. What are some other tips that you'd like to impart on your fellow HR friends?