E-signatures to Help HR Teams Improve Efficiency
The Great Resignation or the mass exodus wherein employees voluntarily resigned in higher-than-ever numbers, started around early 2021. This was and continues to be the effect of the COVID-19 pandemic, low pay, better opportunities, poor leadership, and lack of recognition. On one hand, this phenomenon has left many gaps in the market, and on the other, it has created many opportunities for employees and inevitably, doubled the work of HR teams across the globe. HR Teams carry the onus of finding the right talent, for the right price.
Even as we speak, every industry is being swept by newer technologies simplifying jobs and workflows. However, when was the last time you found an HR team as digitally equipped as their counterparts in let’s say the IT department? The HR of even a small-sized business is a department that manages tons of paperwork and documentation, and long, tedious workflows. Recruitment, termination, employee policies, and internal events, all of these need activities need to be well-documented. While most of these use digital documents and online exchange, the one place where there is a major bottleneck is signatures. Even today, it is the norm to print out a form, letter, or contract just to sign it physically, then scan and send it back to the recipient by email. This step creates plenty of confusion, unnecessary paper wastage, and unwanted delays.
41% of companies require signatures on more than half of their documents, printing more than half of their papers to get them signed. – MSBDocs
Electronic or e-signatures can solve this dilemma with ease. Adopting an e-signature solution allows HR teams to go fully digital with no need to print a single paper and makes all workflows and processes smooth, seamless, and error-free. Switching to e-signatures upgrades the recruitment process and helps HR teams to stay on top of their game.
Benefits of eSignatures for HR
- Say bye-bye to paper – HR managers can drastically reduce the use of paper by going digital and incorporating e-signatures to complete their workflows. HR can finally bid adieu to managing long, tedious, and strenuous physical paperwork and complete their end-to-end documentation online.
- Remote Hiring – The pandemic changed the way people work and how HR teams hire. Thanks to remote working, companies can now hire talent globally and not be restricted to a single geographic location. This opportunity, however, comes, with its own share of problems for Recruitment & Hiring teams. Adding an e-signature solution to the hiring process and formalities can transform how new talent is brought onboard.
- Eco-Friendly Offices – Has your company or team struggled with environment-friendly options to go about work? Did you know that 70% of the total waste in offices is made up of paper, and as much as 30% of print jobs are never even picked up from the printer? Cutting paper out of your work processes can finally mean you can go 100% eco-friendly.
- Security & Compliance - Electronic signatures are recognized and considered legally binding in over 60 countries all over the world. In fact, the leading awareness of the legal acceptance of e-signatures has led to the projected growth of the global digital signature market to reach $14.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 31.0%. (MarketsandMarkets, 2020)
- Enhanced User Experience - One of the main aims of any HR team is to simplify and enhance the experience of existing employees, newcomers as well as prospective joiners. A user-friendly, hassle-free documentation process for joining and relieving formalities can significantly impact the experience of the user and also earn the company the reputation of being a digitally forward organization.
- Save Big on Admin Costs - No paper means no printing, no ink, no pens, no folders, etc. It also means no spending on postage, couriers, and mailing of those 50-page contracts that need physical signatures.
Companies that adopt e-signature solutions reduce document handling expenses by a whopping 85%. – MSBDocs
E-signatures can alleviate HR teams of their workload and help them focus on their core tasks. DrySign, an e-signature solution by Exela Technologies, is highly reliable and convenient for dealing with sensitive documents such as non-disclosure agreements (NDAs), contracts, bonds, and performance appraisal forms. It aims to encourage digital transformation in organizations and automate tedious processes by eliminating any bottlenecks in manual processes and streamlining the workflow.
Advantages of using DrySign
- High Security & Compliance – DrySign is an easy-to-use, affordable, and secure electronic signature platform for daily documentation activities. DrySign digital signatures are legally binding and are compliant with e-signature laws. Other additional security features include password-protected documents, SSL Certificates, and multi-factor authentication. These measures ensure that your confidential documentation is tamper-proof and provide security against fraud and unauthorized access.
- Pocket-Friendly – DrySign allows organizations to sign documents online to streamline hiring and exit processes. It can eliminate nearly 85% of redundant costs suffered by most HR teams when it comes to admin costs such as printers, ink, bundles of paper and stationery, etc. Our customers have been able to save 60% of internal and admin costs within a year of using DrySign.
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- Sign from Anywhere, Anytime – We know it’s been said 1000 times but the pandemic brought all work to a complete stand-still for almost over a year. Imagine if you could sign contracts, agreements, fill out forms, etc from anywhere, from any device and all you needed was an internet connection. Yes, DrySign makes it easy to work from any location and ensures that business doesn’t stop no matter what the situation.
- Features for Flexibility – DrySign provides users with features that bring efficiency, flexibility, and productivity to their workflows. Features such as Group Sign allow you to send a document to several people at once for collecting many signatures in one click. The Template feature allows you to recreate documents in minutes without having to do the paperwork all over again. With real-time mail trails and notifications and reminders, your business can always stay on top of contracts & agreement documents.
- User Experience – Adding a tool or solution that simplifies processes can be helpful to any department. With HR teams, documentation plays a major role. The way the HR team handles documentation can also have a great effect on employees, colleagues, and new joinees. Adding DrySign e-signatures to a workflow instantly cuts down hours on manual work and risk, while enhancing the experience of the user.
- No Training Required – DrySign easily integrates with enterprise solutions such as Dropbox, OneDrive, and Google Drive. It is an extremely easy platform to use and hence does not even require any additional training for users.
What can you sign?
HR teams can use DrySign to take approval sign-offs on new policies from the management. They can use it to get employees to sign forms, renewal contracts, etc. in the workplace.
HR teams can utilize electronic signatures in recruitment, onboarding, performance management, benefits management, and payroll. Applications and reference consents can be signed easily using e-signatures. New hires require a volume of paperwork, including I-9s, tax forms, employee identity, and their verification. This process can also be completed remotely with the aid of digital documentation.
With hybrid environments coming to the fore, changing technologies, and flexible workspaces, HR practices need to improve with the coming times.
Reimagine your workflow with DrySign today.
Source: netsuite.com | msbdocs.com | marketsandmarkets.com
DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.