Easier Administrative Duties
Accurate employee data benefits managers significantly, as it offers them a non-biased view of an employee’s work history. When an employee’s time at the company is continually evaluated, and the information gets updated on a regular basis, it helps managers do their administrative duties more efficiently. It’s also a benefit to new or transferred managers, as it allows them to learn their employees quickly. Overall, accurate employee data saves time, so your managers can dedicate themselves to their job entirely.
It’s essential for a business to have engaged employees, but that’s not always the case. According to Gallup, only 15% of employees worldwide are involved in their jobs. With such statistics, it becomes clear how much room for improvement there is when it comes to employee engagement. One way of improving it is by staying in touch with your employees, which requires accurate employee data. Making sure that essential documents get delivered to employees is vital, not only for a smooth business process but employee happiness and engagement as well. It can prevent miscommunication and ensures the company won’t suffer the negative impact of incorrect employee data.
Fulfillment of Legal Obligations
One of the possible negative impacts of incorrect employee data indeed is running afoul of the Federal and State regulations. It’s not only about W2’s, end of year benefit statements and health insurance documents that need to be delivered to your employee’s address. All employers covered by the Fair Labor Standards Act (FLSA) have to keep accurate and current employee records for at least three years. It includes information such as work schedules, wages, demographics, etc. If these files are not accurate, companies are not in compliance with Federal and State regulations, which can lead to unnecessary fines and legal repercussions.
Correct Information after Employment
When an employee stops working for a company, it doesn’t mean they won’t be working in the industry itself anymore. A business may still come across a former employee as an industry professional or a customer down the road. In that case, having their information on hand might be useful. You’ll also receive reference referral calls about your former employees, and reviewing their file may reveal information their future employer should know.
Keeping employee data clean and accurate is beneficial to a business in many ways, but it’s still a challenging task. Fortunately, there are new technologies that make the process easier by verifying, connecting and standardizing employee data in real-time. One such technology is RunnerEDQ’s CLEAN_Employee, which helps managers increase their employee productivity instead of worrying about manually updating incorrect data. It keeps the business process smooth, and employees happy and engaged.