For growing startups, the more automation, the better.
Matt Straz, CEO and founder of Namely, an HR and payroll platform, says that platforms such as his have benefits for companies beyond making legal and regulatory matters easier to deal with.
"This data is important at a macro level," he says, "but it's also incredibly important at a company level to make better decisions around compensation, performance and hiring."
Straz stresses that not only should the data rest with whoever handles human-resources matters at a company, but the CEO should also have ownership over it as well.
"The sooner you start collecting that data, the better off you'll be," he says.
To hear more insights about HR data from Straz, watch the video above.