Talent scarcity is driving businesses to prioritize upgrading the employee experience in an attempt to improve retention. This is no surprise when you consider that 40% of the US workforce changes jobs annually and 90% of the S&P 100 index are recruiting for the same 39 roles.
Despite massive investment in HR and related technologies in recent years, there is a significant gap between expectations and outcomes. Organizations have been trying to optimize their human resources strategies using technology for some 20 years, but in spite of this, most still haven’t quite figured it out.
This gap typically results from a misalignment between business goals and employee priorities and a failure to make employees feel like they are a priority.
Enhancing the employee experience is a key concern for HR leaders and many organizations are investing significant resources, yet 46% of employees remain largely dissatisfied, according to a recent Gartner survey.
There is also a pronounced mismatch between executives’ and middle managers’ perceptions of the success of HR technology implementations.
Flexibility is the new employment. Freelancers, contractors and part-timers are leaving their stable full-time positions to “gig” their way to more flexibility and freedom from the 9-to-5 grind.
The gig economy started as a trend, but it is now becoming an industry mainstay. Last year, 41 million American workers (consultants, freelancers, contractors, temporary, or on-call) generated $1.28 trillion in revenue for the US economy.
The challenge? Current hiring and onboarding protocols cater to full-time employees only. Human Resource departments will have to change their methods and introduce new practices to adapt to hiring and onboarding gig workers.
Companies face fierce competition when it comes to attracting and retaining top talent.
The average millennial stays at a job for 6-12 months, 10-20 times shorter than Baby Boomers and Gen Xers did. Considering that millennials make up some 75% of the workforce, it’s important to understand what millennials want from work and what they expect from their employers. Some 55% of millennials don’t feel fully engaged at work, and perhaps as a result, around 60% say they’re open to a better job opportunity, should one present itself.
While many businesses invest in modern office spaces and offer attractive perks like in-house baristas, free-beer Fridays and unlimited paid time off, they often neglect the internal processes that really shape company culture and impact employee turnover. Onboarding is one of these processes.
For most people, starting a new job is an exciting time. In the course of their research and the interview process, they’ve been won over by the company’s messaging and purpose, and most new hires start out eager to find their feet and prove their worth and integrate into the team as quickly as possible. Instead, they often spend their first days at a new job isolated and mired in paperwork.
In this digital age, onboarding should be about more than getting a bunch of forms filled out. When done strategically, onboarding can be a valuable tool to instill loyalty in new employees by making them feel valued and engaged from the word go. By digitizing as much of the traditional employee onboarding process as possible and embracing onboarding prior to their start date, you create the opportunity to focus on human engagement during your new hire’s first days instead.
Attracting and retaining world-class talent is the #1 influencer of success in the 21st century. As a result, your HR employees play a critical role in your future prosperity. Yet, too many of them waste valuable time on manual HR processes that have become an administrative burden for growing organizations.
Drowning in paperwork, files, email threads, and other rote, repetitive, manual tasks has kept HR teams from performing at their best.
Consider your typical onboarding process: You hire a new recruit. Many forms and days later, you’re finally ready to invite the new recruit to work in-house. That is, once you double- and triple-check your forms for errors, re-route the paperwork back to the new hire to fix the errors, route the form to all stakeholders and wait for signatures, and follow up to keep things moving along.
Add to this employee vacation requests, expense claims, performance management and more, and keeping HR running smoothly can feel chaotic, if not impossible.
This situation is especially problematic if you’re focusing on business growth. Sustaining growth means improving the productivity of the HR team so they can focus on what’s important – talent.
So what is the solution?
Generic HR software requires an overhaul of your department to fit the demands of the software, and custom programming is, well, just plain expensive and time-consuming.
Thankfully, there is another solution—and it’s cost-effective and relatively simple to implement. Enter HR automation.
Companies are striving to lower the cost of hiring, improve employee satisfaction, and increase talent retention. New software and technologies are being incorporated into many HR processes. They help attract and retain talent while increasing operational efficiency.
From all-in-one HR suites to smaller-scale but more agile “point” system solutions – e.g. ones that focus on a specialized area (e.g., applicant tracking, employee engagement, – there are many software platforms on the market. Choosing the right technologies to meet the needs of your organization and optimize ROI can be quite a daunting task.
To get the most of your IT budget, you should first devise a clear digital transformation strategy for the organization. You must also understand the latest trends in HR technologies. These trends help guide the selection of the right software for your company.
From cloud computing and AI-driven technologies to recruitment marketing platform and online learning portals, here are some key technologies to consider:
In the 21st century, companies must fight to stay competitive. Yet, too many companies are overlooking the most effective way to do so — automation. Many of HR’s most important processes are time consuming, paper-based, inefficient, and costly.
In fact, According to an IDC survey,The Document Disconnect, over 80 percent of business leaders surveyed agreed that problems “arise because they have different internal systems/applications that don’t ‘talk’ to each other.” Clearly, this is an issue that needs to be solved fast.
Modernizing these HR functions will give your company a huge advantage. Since automation software is becoming necessary and more common, here are some important statistics to keep in mind as you make the switch.
Timesheet tracking has been around for years. Punch cards, clocking in and out, ID forms, paper forms, Excel – we’ve seen every variant.
But, these processes are tedious and HR departments struggle to manage them. They must organize, deal with and approve timesheets for dozens or even hundreds of employees at the same time.
In today’s business world, these old-fashioned methods are too time consuming and they waste company time. Optimize your company for the 21st century by automating long, manual processes. Timesheet management is a simple, relatively frequent, and time consuming process. It’s a perfect candidate for automation.
Access to world-class talent is the #1 determinant of success in the 21st century. As a result, HR employees have one of the most important roles in every company. They follow employees from the scouting and recruiting process all the way to the employee offboarding process and everywhere in between.
Getting the on-boarding process right is critical for an organization to make sure every new hire feels comfortable, satisfied and welcomed in the organization. On-boarding done right leads to enhanced productivity and better retention of the new employee. Here are a few best practices that will help you improve your on-boarding process.