SPOTLIGHT Employment
How to overcome the Great Resignation
Jim Close, RVP UK & Ireland at Kofax, suggests seven ways intelligent automation can boosts the employee experience and the bottom line
T
he Great Resignation. It’s the next catchphrase to come out of the pandemic. Employees across all
industries have entered a deep state of self-evaluation about their lives and jobs. Many have arrived at the sobering conclusion their work is simply unsatisfying. Others fear their role will be replaced by automation. The combined effect of worry and dissatisfaction is a shrinking worker pool that’s causing churn and disruption for organisations.
How can companies stop the exodus of workers and keep business processes intact? It’s as simple as removing what’s unsatisfying about a job: the boring, redundant work. The question is, can it be done in a way that not only benefits employees, but the business as well? The answer is “yes”. Surprisingly, the solution has been hiding in plain sight all along. The same automation strategies companies have successfully plied to improve the customer experience must be turned inward. Freed from the shackles of mundane tasks, employees can focus on more meaningful work, which has a double benefit of enhancing the employee experience (EX) while improving the bottom line.
No need to resign Automation removes the drudgery that’s contributing to the exhaustion and lack of meaning among the workforce. Many executives are on board with this approach, with 82% saying enhancing employee productivity and satisfaction was a specific driver for automation, according to the Kofax “2022 Intelligent Automation Benchmark Study”. The study discovered a high level of
interest in eight high-value workflows, with a particular emphasis on automating routine transactions: • Accounts payable automation (85%); • Transaction processing (84%);
8 December/January 2022 | Automation
• Bank-statement processing (83%); • Document-security management (83%);
• Invoice automation (82%); • Onboarding (78%); • Digital mailrooms (77%); • Claims processing (77%).
The ability to scale and manage digital and human resources throughout the organisation makes it possible to speed up the automation process across the enterprise and create successful teams of digital and human workers that are more powerful and efficient together. No longer feeling burnt out and unfulfilled, employees are less likely to leave.
Smarter approach Here are seven ways to improve workforce retention and the bottom line: 1. Increased employee satisfaction: Boring, repetitive tasks like processing invoices fuel the fire of the Great Resignation. Intelligent automation technologies like robotic process automation and cognitive capture automatically capture the required information in less time and with fewer errors. Workers have more time to spend on higher-value work, so they feel more like a human and less like a robot. 2. Reduced worker fatigue: Dull,
repetitive work is just that. With fewer workers on the job, tasks pile up fast, making it harder for workers to keep up. With automation, employees will be less overwhelmed, reducing stress levels. 3. Enhanced collaboration among
cross-functional teams: Intelligent automation unites formerly siloed business functions with connected systems, making it easier to get work done and share information. A low-code platform enables employees from all areas of the business to contribute and work together on automation initiatives, giving everyone a greater sense of purpose. 4. Improved productivity: Intelligent
automation drastically reduces the time required to process documents, and information is sent to the required enterprise systems in real time. Staff have immediate access to accurate and up-to-date information, enabling them to do their jobs faster and better. 5. Reduced costs: When workflows
are digitised, manual tasks like invoice processing, onboarding and claims processing are done faster and more accurately – and at lower cost to the organisation. Additional cost savings come in the form of improved compliance, fewer late payment penalties and early payment discounts. 6. Improved customer experience: A better employee experience has a direct correlation to customer satisfaction. When employees are engaged and feel valued, they’re more likely to stay focused, perform well and have a smile on their face when dealing with customers, suppliers and partners. 7. Better business decisions: Advanced analytics provides valuable insight managers and executives can use to improve business processes and performance. It can be used to identify bottlenecks in workflows, improve cash flow and understand how process executions impact customer satisfaction and profitability.
Some employees may feel overworked and under-appreciated. With intelligent automation reinventing the EX, companies can kick the Great Resignation out of the way.
automationmagazine.co.uk
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