Today’s HR practitioners have a symbiotic relationship with technology. And why shouldn’t they? When you consider the old ways of calculating and managing employee time and attendance was relegated to paper time sheets. In other words, a time-consuming task, that resulted in numerous errors, it’s no wonder many in HR are giving a warm embrace to technology.
A brief summary of an article titled World-class HR departments do more but spend less, thanks to technology written by Valerie Bolden-Barrett, for HR Dive reads, in part:
- World-class HR organizations spend 25% less than average HR organizations and function with 30% less staff, but are more effective, according to a report from The Hackett Group. The consulting firm’s benchmark analysis also found that, should an average company with $10 billion in revenue gain world-class HR status, it could save up to $15 million a year. The Hackett Group defines world-class HR operations as those which maintain a level of performance in the top quartile in effectiveness and efficiency.
- The analysis also showed that world-class HR operations spend more of their budgets on cloud-based technology and selective outsourcing compared to other HR staffs. Top-ranked departments have also reduced the amount of staff performing transactional tasks with error rates for those tasks two to fives times lower that of traditional HR operations.
- The Hackett Group’s research also found that, through digital technology, HR organizations can improve their efficiency and effectiveness in delivering services, boost customer experience, place additional resources on high-value activities and use sophisticated analytics for better decision-making.
Bottom line: Technology has created remarkable new opportunities to eliminate administrative overhead and, at the same time, give HR departments access to advanced technology tools like, workforce analytics, real-time employee dashboard review, employee self-self service and hosts of other workforce management tools available 24/7 365 days a year.
Do you think your HR department will want to turn their backs on tools that helps them streamline payroll costs and improve productivity? We are guessing the answer is no.