2024 and Beyond: Assessing Your HR Needs
Is your current HR system meeting your businesses needs? Self Assess Your HR Technology.
According to a 2016 survey presented by Forbes, 74% of employees bought into a company’s organizational changes. In 2022, that number changed to 38%.
This data likely confirms why over half of surveyed HR leaders look to prioritize addressing employee fatigue caused by change.
In another study, conducted by hownow, 44% of surveyed employees reported feeling significant stress levels, matching 2021's peak and surpassing 2020's 43%.
59% identify as having had “quiet-quit”, with over half (51%) of employees expressing intentions to leave their current job.
What does an HR system have to do with these stats?
Well, out of the 80% of businesses that use an HR system in the US, an estimated 36% of HR leaders are unsatisfied with the technology, features, and processes relating to their system.
While there is no perfect system that will please 100% of employees, an HR system should be able to help companies manage employee engagement and improve retention, among other capabilities.
An HR system plays a vital role in sustaining employee engagement by providing tools for effective communication, recognition, and feedback. It serves as a central platform for managing employee data, facilitating training and development programs, and ensuring compliance with regulations.
Additionally, an HR system enables organizations to streamline processes, enhance transparency, and foster a positive work culture, allowing companies to effectively nurture employee engagement.
Assess your options
Review your current processes and pain points.
Assess the efficiency of your HR operations, considering indicators such as prolonged recruitment cycles, manual data entry errors, and compliance risks due to outdated systems.
Identify areas where integration with other business systems could streamline workflows and improve data accuracy.
Evaluate the scalability of your current system in relation to workforce growth and evolving organizational needs.
By recognizing these indicators, you can determine whether investing in a new HR system or implementing additional modules and integrations is necessary to address your organization's evolving HR requirements and drive long-term success.
Key Considerations for a New HR System or Module:
Alignment with Strategic Objectives
Scalability and Flexibility
Integration Capabilities
User Experience and Adoption
Data Security and Compliance
Vendor Reputation and Support
Total Cost of Ownership (TCO)
Customization and Adaptability
Depending on your current system, you may be able to add modules that are natively configured for the software you already use.
Other systems may not be scalable in relevance with your recent or future growth, meaning you may be need to begin to looking for new options.
Some of you reading this may not even have a fully dedicated software for HR functions, and simply use HR features from other systems you have.
If you would like to engage in an HR assessment or software selection with Red Pill Labs, press the button below to setup a FREE consultation.
Frequently Asked Questions
What’s the difference between an HRIS, HRMS, and HCM?
The major differences between an HRIS (Human Resource Information System), an HRMS (Human Resource Management System), and an HCM (Human Capital Management) lies in the individual focus and scope of each HR technology. HRIS primarily zeroes in on administrative tasks, efficiently managing employee data, payroll, and benefits. When we step into HRMS territory, the scope broadens, encompassing a wider array of HR functions, from talent management to employee self-service. HCM, on the other hand, typically has the key features and functionality or the aforementioned systems, along with strategic elements such as workforce planning and talent development.
What are the key benefits of implementing an Employee Self-Service (ESS) portal?
Employee Self-Service (ESS) portals offer numerous benefits for both employees and HR departments. These portals streamline HR tasks by allowing employees to update personal information, access pay stubs, and request time off without HR intervention. This self-service approach enhances efficiency by reducing administrative burdens and streamlining processes. Moreover, ESS portals empower employees, fostering a sense of autonomy and control over their HR transactions. Automating routine tasks and minimizing paperwork can save organizations time and resources, enabling HR personnel to focus on strategic initiatives. ESS portals also ensure data accuracy, enhance accessibility, and maintain compliance with security features.
How can HR analytics contribute to strategic decision-making within an organization?
HR analytics, also known as people analytics, is pivotal for guiding strategic decisions in organizations. By analyzing past HR data, companies gain insights into future workforce needs, aiding proactive recruitment, and talent development planning. It optimizes recruitment and retention strategies by pinpointing turnover factors and assessing recruitment efficacy. Additionally, it enhances performance management by recognizing high performers and aligning goals with organizational aims. Strategic workforce planning improves as companies anticipate skill requirements and create relevant training programs. Moreover, HR analytics supports diversity and inclusion efforts, cost optimization, and process enhancement. Ultimately, it enables organizations to make data-driven decisions, enhance performance, and achieve strategic objectives efficiently.
