The company’s HR department plays a huge role in the success of any business due to a broad list of responsibilities touching multiple departments. For example, a comprehensive onboarding process can help new hires hit the ground running with confidence in their position and their new employer, and a solid benefits administration program allows employees to fully understand and take advantage of their benefits, thereby increasing overall engagement.
This wide circle of influence also means everyone benefits when the HR department deploys improved tech to assist as they perform their regular functions. With the help of well-executed tech strategy, HR is able to recruit and train the next generation of employees, creating an organization designed to evolve and adapt.
HR tech as a learning and development tool
When it comes to recruiting, an organization’s leaders must meet the needs of their staff if they expect them to participate in pursuing the needs of the organization.
But what needs do employees value most highly?
According to Gallup, millennials rank the opportunity to learn and grow in a job higher than all other considerations. The same poll found that six out of 10 don’t feel they have opportunities to learn and grow, even when 69% of millennials say learning and growth opportunities are an important factor when job-hunting. It’s clear that having a solid learning system in place is a must for effective recruiting.
Training and development isn’t just about bringing in new talent; it also plays a role in keeping the talent that’s already on your team. LinkedIn found that 94% of employees would stay at a company longer if it invested in helping them learn, and the Society for Human Resource Management found 75% of HR pros reported a skills shortage in available candidates. When you look at these statistics together, one truth becomes hard to ignore: The best route to keeping your staff engaged and getting the performance you need is by having a robust plan for training and development.
Enhanced productivity
In addition to enhanced recruiting efforts, HR tech offers a number of measurable benefits. An environment fostering professional growth and development also encourages employee engagement, and the aforementioned poll reveals that highly engaged teams have productivity levels averaging 17% higher than their non-engaged counterparts.
Improved data security
One of the primary selling points of HR tech is efficiency, but no less significant is its contribution to data security. In a world where the occurrence and cost of internet crime has risen steadily over the years, the safety of every organization’s data is a concern that can’t be ignored. Thankfully, it seems many companies take this threat seriously. A 2019-2020 Sierra-Cedar HR Systems Survey found a 17% increase from the prior year in the number of respondents deploying cybersecurity strategies, with 70% of HR organizations reporting they have and regularly update such a strategy.
So how does HR tech help secure your data? Streamlined functioning automates HR processes and limits the exposure of sensitive employee data. Cybersecurity efforts aren’t just for the IT department when HR tech can supplement the data safety in an organization.
The future of HR tech starts today
There’s never been a more impactful time to adopt new technologies. A survey from Forrester Consulting found that 93% of companies consider innovative technologies as necessary to achieving their digital transformation goals.
Could your company benefit from phasing out obsolete tools and redundant processes and embracing the digital transformation of a single, streamlined HR system using better technology?
HR technology can help protect and develop an organization, leading it in the right direction to accomplish future business goals. If you’d like to know more about the future of HR tech, contact Paycom and let us show you today how you can succeed tomorrow.
