This guide accompanies our workshop video Managing company assets. The workshop is a great way to get in-depth information and a demonstration of how our HR platform works by our in-house experts. This guide contains helpful "next step" information to help you put your new knowledge into practice in Employment Hero.
What this workshop is about.
Whether your workforce is remote or works in the office, your organisation would have assets assigned to employees so they can undertake their role. Knowing who had what, when and for how long, and a history of an asset's ownership improves transparency and accountability, reduces loss and helps calculate depreciation where necessary.
Key topics covered.
What capabilities does the Employment Hero asset register have?
The asset register allows you to create a list of assets owned by your organisation, specify the code, the category it falls under, the purchase amount and the name of the item owner. You can also use this feature to edit the asset details if they change, update the category information entered, re-assign an item to a new owner and dispose of a piece of equipment if needed.
We give our employees a lot of assets. How do we know what is worth tracking?
Every business will need to answer this question based upon their own needs. But there are two questions to ask, the first is the most obvious. “Is this item of reasonable value to warrant tracking?” You could also consider, “Is this something my employee needs to do their job successfully and would I otherwise know if they did not have this?”
This might not warrant asset tracking if you have uniform shirts for your staff that are not necessarily expensive. But if those employees work offsite, you may not know if they don’t have enough shirts, and therefore tracking uniforms as an asset may be a good idea.
What happens when I offboard an employee with assets still assigned?
You will receive a warning when you attempt to offboard an employee with assets assigned. You can choose to offboard the employee anyway, if you wish, and the employee and the asset will appear in your asset report with the asset as outstanding.
Tips and tricks.
The person who manages the asset register does not have to be a full platform admin and also does not have to be the person who distributes assets. You can elect any employee to manage assets as a special permission via Custom Security Groups.
The asset manager can also use Tasks to ask another party for example an IT department that manages access cards, to provide something for an employee and to tick off the task once complete so the asset manager can update the register.
Share it with staff.
Asset management is incredibly helpful, especially for teams working remotely. If your staff are already working remotely with equipment in hand, you can ask them to provide the details of their equipment easily using the Company Feed and Task features.