Today, HR and finance professionals must deal with constant change:changing personnel, changing regulations and changing expectations. Howcan an HR information management solution help you effectively dealwith these challenges and opportunities? Here are key workforce trendsand ways to help you keep up with – and benefit from – all the changes.
1. Shifting demographics
To meet the challenges of a changing workforce, successful HR professionals are leveraging the talents of their people with new workforce management. This means seeking out and implementing solutions that reduce labour-intensive administrative activities – such as keeping up with payroll and HR compliance issues or gathering year-end information for reporting. This enables busy HR professionals to refocus time and efforts on aligning individuals with company goals and objectives.
2. Changing metrics
Even small to mid-sized organizations today want to utilize business intelligence to improve performance. For them, the HR function is moving away from purely tactical and administrative tasks to a model that is more strategic and valuable to the organization as a whole.
You need a smart solution that can bring your HR data to life. It should give you the ability to “slice & dice” data along different dimensions and across time in order to identify meaningful changes, verify if company strategies have been successful, and assess the impact of HR management on company revenue and expenses.
3. Transforming talent management with real-time information
Today, organizations must have the ability to measure trends like turnover, performance, talent utilization, learning, career development, and succession planning. Talent management may also involve flexible work environments and accommodating remote or virtual workers.
It’s essential that you have the functionality to access key information so you can manage complex human resources needs. Whether it’s benefits management, performance reviews, or competency management, you need to be able to easily transform your historical employee data into information you can use.
4. Adapting to New Technologies
Increasingly, web-based data management solutions can support and enhance the business intelligence of the HR function. They can provide access to all relevant data, across systems. Applying advanced technology can also relieve the IT departments and enable the HR administrator or a small HR team to achieve results they could never achieve on their own.
Opting for a hosted solution can also significantly reduce your cost of ownership. This type of solution lets you take advantage of the latest technology in a secure, multi-user, friendly environment with no additional hardware or software to purchase, maintain or upgrade.
5. Discovering New Ways to Work
Research shows that organizations are increasingly turning to outside providers for help with HR-related matters. This trend continues to grow as organizations struggle to relieve their overburdened HR personnel.
Choosing partners that can integrate systems, provide the expertise on government regulations and legislation and help reallocate resources by reducing repetitive administrative tasks are proven to reduce risks and add value to an organization. By outsourcing your human resources, benefits and payroll administration, you can streamline the management of many administrative tasks and focus on what really matters – the success of your business!
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