Automating HR Contracts & Employee Onboarding
AI is set to revolutionize industry practices in the HR sector. According to NetSuite, about 57% of HR verticals plan to improve employee experience using AI and about 41% of companies will utilize AI-based HR solutions by 2022.
Onboarding new employees is an integral part of every HR vertical. The employee onboarding process involves drafting documents including employee contracts, NDAs & offers letters, paying stamp duty on these documents, getting them approved & finally getting them signed by all relevant stakeholders.
The conventional process involves HR drafting employee onboarding documents manually, printing copies of agreements, sending them to management for negotiations & approval, and finally sending them to prospective employees to obtain wet signatures.
Drafting documents manually is untenable for large enterprises & a drain on time and resources for workers. Negotiating documents & sending them out for signatures is also in some cases, it possible to obtain physical signatures. Additionally, there are risks of forgery, lack of legal validity, contract loss, and storage problems. Resorting to digital contracts with AI-powered eSignature solutions can eliminate these problems.
Digital contracts can be stored in bulk on a desktop with easy organization capabilities and quick access to any file. Digital contracts are signed electronically, making them a better alternative to physical contracts and signatures.
How eSign solution can boost HR productivity
An electronic signature, commonly known as eSign, is a signature completed online with a few clicks of a button. For HR verticals & consultancies that onboard hundreds of employees daily, leveraging an eSign workflow can expedite the onboarding process to massive degrees.
Template-based bulk drafting, digital approval workflows for stakeholders & instant eSignatures all serve to scale HR processes efficiently & cost-effectively.
Here’s a rundown of how the employee onboarding process works with an eSign workflow.
“Total time taken..” to “Result – 5 minutes to onboard an employee”
eSign solutions reduce onboarding TAT by 99%
According to a report by MSBDocs, about 65% of companies using pen and paper take an entire day to collect signatures on a single document.
According to Finances online, the difference in time for obtaining signatures electronically and traditionally is 37 minutes vs. 5 days, respectively.
Signing documents instantly from anywhere with eSign solutions reduces TAT by a massive 99%, significantly saving time. HR executives don’t have to wait for the employees or other parties to arrive at the location or courier documents to obtain signatures. Instead, they can send an invite to eSign the documents via email and get documents signed within minutes.
Additionally, eSign enables HR verticals to onboard employees faster, thereby boosting productivity and efficiency.
Here is how digitizing the onboarding process can boost productivity in HR verticals.
Easy employee onboarding
Onboarding employees in distant geographies by collecting paper-based documents and wet signatures takes too much time and is highly inconvenient. Shipping these documents to and fro to obtain signatures delays the onboarding process further and may lead to loss of documents & employee drop-off.
eSign enables HRs to onboard new employees from anywhere, at any time, by sending an invite to sign agreements, offer letters, etc., via email. This enables HR executives to obtain signatures from employees working remotely without hassles.
Seamless contract workflows
The workflow process in onboarding with eSign and digital contracts can go smoothly without any hiccups. Documents are drafted using legally valid templates or uploaded onto the interface. Stamp duty is paid online, and documents are digitally stamped. HRs can invite employees & other stakeholders to sign them online via email. Additionally, they can manage and store documents easily on an intelligent dashboard.
Digital contracting with eSign solutions enables HRs to automate, manage, & streamline every step of the onboarding process while reducing associated costs by 85%. Additionally, there is minimal risk of losing files, manual errors, or mismanagement of the documents.
Smooth internal documentation
An integral part of HR’s responsibility is to send out updates about policies and letters to the employees. Printing them out and handing them over to each employee is time-consuming and doesn’t work for remote employees.
With digital documentation and eSign solutions, HR verticals can manage and execute internal documents such as HR policies, releases, updates, training contracts, employee contracts, certificates, etc., on a single interface. Additionally, it enables them to collect signatures online and set up an easy documentation workflow. This allows HRs to manage internal documents efficiently, save time, and boost productivity.
Bird’s eye-view dashboard
Managing physical files and documents is not convenient at all times. A typical HR executive spends nearly 50% of their time simply searching for a document. This problem is only exacerbated when documentation is scaled. Additionally, storage of paper documents takes up a massive amount of space, with no easy means for retrieval & often resulting in loss of employee information.
The best eSign solutions offer an efficient dashboard to track document & signature status, set reminders, send alerts to signatories, receive notifications about signing activities, and manage all documents in one place.
Onboard employees 99% faster with SignDesk’s DIY eSign solution
SignDesk is a leading document automation solutions provider, assisting businesses and enterprises across various industries in developing a smooth workflow process. Our Do-it-Yourself INK.IT eSign platform enables HRs to onboard employees faster and manage documents efficiently in one system.
The platform provides Aadhaar-based electronic signatures, custom templates to create legally valid documents, multi-party & multi-location signing, virtual audit trail, real-time notifications & reminders, web & android support, and more.
A unique feature of the eSign product includes a unique Aadhaar top-up feature, where users can obtain additional Aadhaar signatures for any purchased plan by topping up. Our product has enabled 350+ enterprise clients to reduce turnaround times on contracting & documentation costs, boost productivity by 50-60%, and streamline their employee onboarding process.
Are you ready to automate onboarding employees and digitize the workflow process? Book a demo to find out how!