Organisations across the board should be proud of the leaps and bounds we have made in the use of technology in the HR function. We operate in a global business landscape, facilitated by technology. Most businesses are investing in enterprise technology and cloud software that drives their global business agendas forward and helps them make money. According to Gartner, worldwide IT spend was set to increase 2.4 per cent in 2017, with the enterprise software market projected to grow 7.6 per cent.
Over the last seven years, we have seen significant innovation and adoption of HR tech. Recent research by Bersin found that the highest performing HR organisations are revitalising the HR function by focussing heavily on internal development and investing in technology, analytics, artificial intelligence, and data security.
Research found that when organisations implement both an HR shared service (HRSS) centre and a technology solution to run their benefits programs, they are more likely to achieve success against their global benefits objectives. Without technology and the data, it provides, it’s impossible for you to have accurate visibility of spend and outcomes, and therefore ROI on your investment. You’ll also have no idea how you’re progressing against your strategy.
Then there’s the question of sensitive data, including employee health information. Ensuring that your data is encrypted, secure, and correctly handled will only prove more important with the arrival of GDPR. When processes aren’t standardised globally (considering local regulations), there’s a risk that local HR teams will store and transfer employee data to providers via spreadsheets over email – unencrypted. This is a disaster waiting to happen and poses a significant cyber security risk. You need to make sure you’re sufficiently compliant or else face huge fines.
Any value gained from this progress can be lost, however, if some functions remain offline and paper-based. We need to ask ourselves: are we doing enough to connect these digital dots across all our functions and lifting up all areas of the business? If we achieve this, and make sure technology is applied effectively across the board, then we’ll soon see a more engaged, more committed, and more productive workforce.
Source – HR Grapevine