Shred the paper and welcome yourself to 21st century technology. HR software is becoming less expensive, more intuitive and in higher demand than ever before. Frankly, it’s surprising that the wave of adoption didn’t arrive sooner, but thankfully it’s finally here. For countless reasons, more and more small and mid-sized employers are adopting software solutions to more efficiently and effectively manage their employee onboarding, benefits and recruiting processes. There are several culminating factors that have led to this rise in HR technology:
- Demographics - Tech savvy millennials will represent approximately 50% of the workforce by 2020. Many of these millennials will expect HR to provide a digital format to onboard and make their benefit elections.
- “Job Hopping” - Millennials plan to “job hop” at a higher rate than previous generations. A 2015 Pricewaterhouse Coopers study found that 25% of millennials polled expect to have 6+ employers in their career. This is was up 17% from the same poll taken in 2008.
- Computer Access - Computer access is higher than it has ever been. The Pew Research Center’s “Technology Device Ownership: 2015” illustrates that 73% of U.S. adults own a desktop or laptop, 45% own a tablet and 92% own a cellphone.
- Price – Competition is fierce and a host of venture capital money has found its way to software companies, both large and small, looking to carve out a niche in the HR technology space. This competition has pushed costs down and sparked innovation.
- Compliance – The Affordable Care Act and the U.S. Department of Labor haven’t made it easier for HR to assure all of their practices are in compliance. The right technology solution can help address this concern.
- More with Less – Most HR professionals will agree, the HR budget has not kept pace with revenue growth for most companies. HR is constantly pressured to find innovative ways to do more with less.
There are hundreds of additional reasons supporting the business case for HR to adopt technology and very few legitimate excuses not to. This begs the question, when will your organization adopt an HR technology solution? If you already have one in place, does it address your organization’s needs?
We are constantly looking for new ways to add value to our clients. Ask your broker if they have a technology solution and what resources they provide to support the implementation, customization, training and ongoing support that accompanies a software platform. It’s one thing to merely recommend a third party solution, it’s quite another to deliver a customized solution that fits the needs of your business.