In a December 2023 updated report, Ernst & Young (EY) found the average cost per manual data entry made by an HR professional increased to $4.78. Read about EY’s latest findings for more information.
Work is part of life — but is the workplace keeping pace in terms of tech savvy? For many organizations, it might be time to take stock. Making sure you’re not getting left behind technologically is vital to setting yourself up for success in the digital reality. A fully up-to-date infrastructure not only keeps you competitive in your industry, but also benefits your bottom line — in real, dollars-and-cents terms — by increasing organizational efficiencies across the board.
The path to full tech integration
People use apps to make their lives simpler and more efficient. From GPS to fitness to money, the tech found on the average smartphone proves its worth by saving time and allowing users to establish effective habits.
When benefits like these become clear, people are motivated to continue using the apps that make them possible. This suggests that people need the right incentives to adopt the right technology — and that’s something that should apply directly to the workplace.
In some ways, tech integration by employers is a matter of catching up to where their employees already are. But it also points toward a need to remain relevant in a changing world. A 2020 study by McKinsey & Company showed that demand for skills like coding is expected to grow by more than 50% over the next decade. So it’s no surprise major companies are pouring massive amounts of money into tech-related training (think upskilling and reskilling).
What can your organization do?
In some cases, satisfying employees’ tech-savvy expectations must start with a change in attitude from the top. Just as some people are more comfortable with new technology than others (even within the same generation), attitudes toward tech differ from one organization to the next. Accordingly, companies seeking to benefit from the efficiencies of the latest and greatest tech tend to be more agile in general.
Next, it’s worth considering which manual aspects of your daily operations can be automated. For example, if your organization’s HR team still uses outdated systems or multiple systems, it might be time to look into tech that can streamline processes. According to ground-breaking research from Ernst & Young, the average manual entry of HR information costs $4.51 — costs that can be saved by giving employees the ability to manage, update and verify their own HR-related information, including through an easy-to-use app accessible from anywhere, anytime.
As another example, think about your hiring processes. Are you still relying on manually entered job postings, separate services for background checks and drug testing that can take weeks to generate results or other processes that slow onboarding or even deter top talent? These are all things that can be resolved more or less in one fell swoop — along with payroll, taxes, schedule management and other processes — by a software upgrade.
So don’t be afraid to push your organization outside its current box. You may find your employees are ready and waiting for a technological refresh!