Learn why digitization, cloud computing, and big data are the technologies you can explore on your quest to upgrade your organization's way of handling human resource management.
Get startedWhy HR needs to evolve?In the era of technology, an increased number of companies want to improve their operations, be more agile, and fundamentally change how to do business. And as HBS points out, digital transformation requires not only a change from a technology point of view, it also requires a cultural shift, and without leadership support, it is exceedingly difficult to capture its full potential. Although digital-first companies made this transition a bit faster, this is not the case for "traditional" business. Start reflecting on your business goals and embark on a strategy that will help you use the massive potential of digital human capital management. By digitizing your HR operations, you will gain extra value on the balance sheet and your team and employer brand's satisfaction. Below you will find the top 3 game-changing factors contributing to a successful HR department's successful transformation. |
1
The application of software in the human resource department generates structural transformation that affects business performance. When there is intense pressure from all fronts on outcomes, innovative digital HR tech is the solution. And if the implementation is successful and addresses the business needs efficiently, it will lead to massive productivity gains and a boost in employee engagement and satisfaction.
Digitizations examples include:
How to overcome the barriers to digital transformation?
Many times, organizations are blocked and avoid considering changes in the way they are working.
Digitization bottlenecks such as gaps in knowledge or unwillingness to change were often the case when employees got used to working with legacy systems or the traditional ineffective methods that generate errors and are prone to risks.
Other times, the managers who could drive such transformations are fearful that innovative technologies will take their jobs; however, this is by far the case.
Another reason that many businesses consider is the risk of failure in the implementation, and according to McKinsey, this is much less the chance for small business than giant enterprises:
"At organizations with fewer than 100 employees, respondents are 2.7 times more likely to report a successful digital transformation than are those from organizations with more than 50,000 employees."
2 The shift to the cloudSoftware as a Service is a technology that undoubtedly has changed the way companies can scale and increase their processing powers. There is no more a myth that cloud computing is a technology to stay and will improve the way businesses generate value to their stakeholders because of shifting from on-premises technology to cloud-based innovations. Cloud computing is among the most disruptive IT spending forces since the early days of the digital age. According to Gartner analysts, software as a service (SaaS) is still the largest market segment. It is forecast to grow to $104.7 billion in 2020. Cloud is here to stay, and the benefits are 3-fold: 1. Performance, 2. Agility, and 3. Cost reduction. |
Your people operations will be more reliable due to increased security and privacy. After the swift implementation, you regain clarity over employee absence and cut uncertainty about workforce management. Moreover, BCG highlights 20-50% in cost savings related to SaaS solutions' value, mostly from lower infrastructure and personnel costs.
Your people operations will be more reliable due to increased security and privacy. After the swift implementation, you regain clarity over employee absence and cut uncertainty about workforce management. Moreover, BCG highlights 20-50% in cost savings related to SaaS solutions' value, mostly from lower infrastructure and personnel costs.
3
Data is the new gold. Your workforce generates valuable data that needs to be collected, stored, and processed to gain a competitive advantage.
Consider these fundamental aspects:
Think about faster onboarding or offboarding, smoother audits, business continuity, and better compliance with the law. With big data, the algorithms to process it, and the processing power magic can happen.
According to BCG, big data can generate big revenues—an average of 12% of total sales for leading companies regardless of size or industry.
Think about faster times of onboarding or offboarding, think about smoother audits, ensuring business continuity, and why compliance with the law. With big data, the algorithms to process it, and the processing power magic can happen.
The big data advantage consists of translating this data to create business value. The same BCG study highlights that big data can generate significant revenues—an average of 12% of total sales for leading companies regardless of size or industry.
With HR data, you can identify people issues, address strategic HR concerns, and create action plans. LeaveBoard offers online tools that provide you the data advantages:
Get the bigger picture
Do not be a lagger in adopting innovative technology in your company. Decouple from legacy systems, test new SaaS innovations that increase employee engagement, cut uncertainty, and supply operational excellence. Such an investment will give value over the long term, continuously improving and providing value for the existing and future employees. Although it is a decision that you do not make every day, it will pay back faster than you might think.
Unlock a future-proof digital foundation
With digitizing transformation your HR software stack will be fast, secure, reliable, and easy-to-use. You will stay in sync with your existing solutions, i.e., Slack/Office365/Google, and add new elements to boost people's operations effectiveness within your business.
Book an interactive tour today, where we will discuss the digitization aims you would like to achieve in your company, the challenges met, the elements that require the biggest priority, and how LeaveBoard can become the digital catalyst.
↓
Digitize your Human Resources Management with the HR Software that solves challenging problems within small and medium organizations.