The advancement of technology has made it possible for human resources executives to devote more time to business-impacting activities such as talent acquisition and leadership development. Meanwhile, technologies can handle responsibilities such as business process management (BPM) and service delivery. Because of this, HR functions have become more strategic for their respective firms. It is already possible to host HR software on the cloud, where workers can access it in a protected manner over the internet. This makes it simpler for businesses to integrate new forms of technology.
According to the findings of the 2016-2017 HR Systems Survey conducted by the North American IT services company Sierra-Cedar and presented at the SHRM Tech '17 Conference, a greater number of businesses in India and throughout the Asia-Pacific (APAC) region intend to increase their budgets for HR technology in the upcoming year.
Based on the findings of the white paper, it seems that 56% of all APAC-located firms have plans to raise their expenditures on HR technology this year, of which 64% are organizations based in India. This year, over forty percent of all APAC enterprises and more than fifty percent of companies in India have plans to update or establish new enterprise human resource management system strategies.
The methods include embracing new HR technology beyond payroll and basic HR management systems, updating existing HR systems or switching to new cloud-based HR systems, and investing in new areas like analytics, mobile, and social technologies.
Before this decade, the implementation of human resources software was restricted to dreary operational activities such as managing attendance and calculating payroll. However, it is not the case anymore.
A market that is now worth $400 billion in HR Technology. Businesses use HR software for various activities, including recruiting, onboarding, performance management, employee engagement, and people analytics. These are just a few of the procedures.
According to a survey that KPMG carried out, 63% of the people polled anticipated a far larger value addition for their company due to the use of HR technology than what their investments had accomplished. In addition, the employees' expectations are very reasonable, considering that the typical business spends hundreds of dollars per worker on various HR tools and services. On the other side, we know that just some implementations are effective.
The question is how businesses can get the required return on investment (ROI) when they adopt new technology. The following are five concrete procedures that we highly recommend:
1. Harmonize technology and business goals
There are situations when a companies tends to adopt new technology just because the vendor is a well-known brand in the industry or because the technology is a more cost-effective solution. Instead, take a step back and examine whether or not the program is the most effective option for assisting you in achieving your strategic objectives.
First, create an outline of the goals you want to achieve, and then work backward to devise a strategy for selecting software that would boost performance and assist you in achieving your goals. This almost always guarantees an improved return on investment (ROI), especially when it comes to creating effective strategies for hiring.
2. Obtain C-suite buy-in
To increase the likelihood of users who choose to adopt new technology, communication with key stakeholders has to begin as soon as possible and continue often. Demonstrate to them how the new technology will affect your approach, and take them to step by step through it. If upper-level management is outspoken about their support for emerging technologies, it gives workers self-assurance and makes them more open to change. This is because employees feel more secure in their employer's support of them.
You may even take it a step further and urge your C-suite to talk about the applications of the new software solutions and their advantages. Start a constructive conversation, and you will discover a difference.
3. Carry out an in-depth analyses of the current system
There is always a danger of incompatibility when updating HR Technology with the already in-place systems. To avoid any problems with system integration, it is essential to thoroughly study and assess all of the technologies that are already in use inside your firm.
Acquire as much data as is attainable on the requirements put the various features through their paces, and check that everything integrates well. This method will avoid system redundancies and assist you in remaining well within your financial constraints.
4. Provide training as well as assistance
One of the preliminary aspects contributing to the unsuccessful adoption of HR technology is the need for adequate training and support. And by that, we don't mean long PowerPoint presentations or video demonstrations. People need to see the software in real time, comprehend the many functions in the context of the work processes that are unique to them, and ask questions.
Additionally, more than one training session will require your staff members to comprehend new technology. Because of this, after the HR software has been established, some providers make a trainer available for the next three to four months to guarantee that everyone is familiar with the new system.
Naturally, this is dependent on the intricacy of the instrument itself as well as the procedures that it will assist in carrying out. However, even though the tools are quite user-friendly and uncomplicated, it is still a good idea to ensure that help is constantly accessible in case of questions occur.
5. Evaluate and then continue to monitor the situation
When adopting new HR technology, the workflow will almost always be disrupted to some degree—because of this, keeping a close eye on the deployment is quite necessary. Maintain an open mind about the input from the stakeholders and the staff, and alter your strategies for hiring accordingly.
Not only does this make everybody feel like they are an element of the change, but it also provides you with essential insights about what is performing, what is not functioning, and how you can alter it to give a good return on investment (ROI), making it one of the most effective hiring strategies.
The next time you deploy new HR technology, ensure you prepare for it, acquire buy-in from key stakeholders, conduct a compatibility study, educate your staff, and remain open to feedback. If implemented correctly, this brand-new software product can become a useful instrument in the right hands, making it one of the most effective hiring strategies.
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