Time to rip the old school HR management band-aid, and replace the old with the new.
HR departments are the backbone to any company, and they are gaining more respect among departments, but without the proper tools to support, leadership can lag.
Today’s HR must rely on a constant stream of data to make decisions and lead a company towards success. Companies must look to simple, organized means of storing data in a form of software that is easy to maintain and upgrade.
Let’s take a look at some of the challenges and benefits of moving your HR data to the cloud, through this interesting infographic by Oracle.
According to this infographic, the top reason that HR leaders are holding back from using HCM technology is that a whopping 86% of organizations are only focused on reporting, rather than analyzing.
Some other inhibitors include the lack of one data system, low quality data, and an inability to decipher data. This means that HR is spending a lot of their time collecting feedback, but with data that is inconsistent enough to actually make permanent business decisions they can use to support. However, there’s a silver lining, and many companies are looking to online guidance software like WalkMe that can support this transition.
Leveraging the data in HR technology can help leaders make the right decisions. It’s not about hiring and firing anymore, it’s about analyzing the goals of your company, and how you can support these goals and achieve them.
This revolves around the entire business structure, supporting employee well-being, employee engagement, talent recruitment, new market expansion, onboarding, employee training, and retention (just to name a few.)
Okay, so if you’re on the fence, here’s what might be in it for your team. Some of the rewards of investing in HCM technology systems might include:
- 2 times more likely to improve recruiting and talent acquisition
- 3 times more likely to realize company efficiency and tools for reducing cost
- 2.5 times more likely to improve talent mobility
It’s becoming more obvious that a cloud-based system is the only way leaders can assess the broad spectrum health of a company and stay one step ahead of the curve.
If you’re wondering if the investment in making these changes in overhauling your current platform and switching to a cloud-based HCM system is worth the money and effort, the data is telling us it is.