According to Forbes Magazine, 57 percent of companies plan to make a major Human Resources Management software purchase within the next 18 months. And with the market for Human Resources software and technology expected to reach $9.2 billion by 2020, it’s clear that companies are in search of ways to make their departments efficient and cost-effective. Due to the variety of software and technology now available, deciding which software options to choose can be difficult.
In years past, one of the biggest problems Human Resource departments faced was having to upgrade their systems every two or three years to keep up with industry demands. Recently, as cloud technology has become more popular and available, it now makes much more sense for these departments to transition to a cloud-based software. Not only does it allow data to be more secure, but it also allows for much easier transfer of data back and forth from multiple locations. And with the average Human Resource Management System being more than five years old, there is no better time to upgrade! Some of the most popular cloud-based HR systems include ADP, Saba, SumTotal, and CornerstoneOnDemand.
If there is one thing HR departments are always in need of, it’s a large pool of qualified applicants to hire from. Since recruiting can be extremely time-consuming, especially for smaller HR departments, that doesn’t always happen. With the development of more advanced software in recent years, even the smallest of companies can find themselves with plenty of potential employees. Due in large part to such applicant tracking software as JazzHR, companies can leave behind previous methods of recruiting such as email and spreadsheets, and instead use advanced applicant tracking software to help recruiters, hiring managers, and qualified Human Resource managers to create a recruiting process using the latest in predictive analytics. By doing so, an HR manager can fill everything from entry-level to high-level executive positions, with job postings made available on multiple sites by simply clicking a button. Considered easy to use, JazzHR is being used in more and more companies across different industries.
Along with hiring new employees and being able to track data from multiple locations through cloud-based systems, more companies are also looking to make major upgrades to their HR Administration systems. Whether it’s payroll, benefits management, time and attendance data, or other related areas, HR Administration is extremely important to ensuring a company runs efficiently. According to industry statistics, Human Resource staff members spend more than 58 percent of their time on administrative tasks, and an additional 20 percent of their time on reporting and compliance. Because of this, companies now look for software to automate and streamline these processes. One of the best software solutions many companies have chosen is Workday HCM, a cloud-based software package that lets managers gain detailed information on employee costs, payroll systems, and current business projects across the world. Able to replace multiple fragmented HR systems, Workday HCM can be purchased on a subscription basis, helping to reduce upfront costs that may hinder smaller companies.
As today’s workforce becomes more and more competitive, it’s even more important for Human Resource departments to make sure they have every edge possible. Whether it’s using the latest cloud-based technology to make their data more secure or using advanced analytical systems for applicant tracking and hiring, these and other technologies are sure to play a pivotal role in the years ahead. If you find that existing systems don’t meet all of your needs, then please contact us to explore options for custom cloud-based solutions.