7 Benefits of Robotic Process Automation (RPA) in the HR Industry

The use of new technology within businesses has accelerated due to digital transformation, particularly in 2020 during the coronavirus pandemic. Due to its advantages, robotic process automation is already widely employed in a variety of businesses and organizations.

The global market for robotic process automation was estimated to be worth $1.40 billion in 2019 and is projected to grow at a CAGR of 34% from 2020 to 2027 to reach $11 billion. This information was acquired by AI Multiple. In addition, it is anticipated that knowledge work automation will have a $5 to $7 trillion economic impact by 2025. The market for automation will keep expanding rapidly.

It is pretty simple to see how robotic process automation in HR departments helps in expediting and ease the work. An HR department deals with a lot of paperwork from an operational standpoint, and they spend the majority of their time performing tedious and time-consuming jobs. These jobs can easily be automated with the RPA and the right implementation of the processes.

Can RPA be used for the department of human resources (HR)?

The State of the Global Workplace survey by Gallup states that 87% of employees worldwide are either not engaged or are actively disengaged at work, which results in lost productivity that costs the economies $7 trillion annually. Although it is the responsibility of HR to maintain employee engagement, most HR teams are required to execute monotonous duties that can be automated.

The following are some advantages of robotic process automation in HR:

• recovering as much as 40% of workers’ time;
• 10x quicker employee onboarding; a 4-month return on payroll investment;
• 60% less money was spent on employees;
• 85% less time was spent processing.

7 Key Benefits of Implementing Robotic Process Automation (RPA) in the HR Industry

Compared to other technologies, robotic process automation can help HR departments work more quickly and cost-effectively while increasing efficiency. Here are some of the advantages of RPA in HR

• Accuracy

RPA increases the accuracy of data integration and validation procedures, which are notoriously prone to human error.

• Quicker HR processes

The most problematic aspect of back-office operations is that they eat up labor hours, keeping HR personnel from high-value work and lowering productivity. RPA allows for process automation, which reduces labor hours required for tasks and frees up the HR team, increasing productivity overall.

• Automating Onboarding

Robotic Process Automation In HR can facilitate process streamlining. During onboarding, RPA bots can make decisions based on rules. HR personnel should take care of duties including setting up a new user account and email address and enabling access to necessary data, programs, and IT equipment during the onboarding process of new hires.

• Sourcing Candidates

The tasks that take the most time throughout the hiring process are candidate shortlisting and CV screening. RPA bots in the HR department may collect online application forms and resumes, as well as screen them. They can then use RPA plugins with machine learning capabilities or pre-defined rules to compare the candidate data against all pertinent job requirements.

• Verifying Employment History

Verifying an employee’s background necessitates cross-referencing the information provided by interviewees with data from other sources. Companies can acquire the necessary employment history data from the input sources and cross-reference it with backend databases by using an RPA bot. The bot then automatically generates reports and can warn candidates when it has trouble confirming their employment history.

• Management of Employee Data

An employee requires a lot of data to be maintained and saved, including salary information, hiring contracts, and other paperwork that would often require manual processing. Integrating Robotic Process Automation In HR can accomplish this more quickly and effectively, lowering the possibility of errors.

• Management of Exit

HR is in charge of handling the exit procedure for the employees in an incredibly well-defined manner, just like the onboarding process. RPA implementation can guarantee a well-organized process to manage staff offboarding. The following processes can be automated: compiling leavers’ input, creating exit documents, notifying the appropriate parties, gathering firm assets, revoking system access, and the payoff process.

Conclusion

Even when robots are introduced, a corporation will only be as good as its employees. Robots will assist firms in streamlining their operations and identifying those who need their unscheduled time. The others can be handled by robots. It is effective at compiling and consolidating data. Additionally, costs can be reduced greatly. 

Moreover, it enables HR to concentrate on things like resolving employee complaints. Consequently, their work satisfaction will rise, and they’ll be able to focus more easily. Deploying Robotic Process Automation In HR from a tech-forward company like SVAM ensures completely simple data administration. So it’s a huge advantage to give a robot your menial daily jobs. You can get in touch today to know more about the RPA solutions