Skills shortages and growing skill gaps put companies under tremendous pressure to attract and retain employees with the skills they need. Digitalization and the integration of HR with other businesses is no longer an option but a necessity. In the past, many HR departments have used separate digital systems for payroll, compliance, scheduling, or learning. The logic behind it was that the combination of best-in-breed solutions would produce the best results. However, putting together different solutions into a Frankenstein-like system for HR tasks has two major drawbacks: first, the user experience is completely lost and, on the other hand, there is no data exchange between the systems.
Study results compiled by SumTotal show that the system patchwork for HR-related tasks that has grown in many companies is not being enthusiastically accepted or used. Because on the one hand, it is very uncomfortable to handle and, moreover, the data in their individual silos without context is quite useless. A study by Deloitte confirms that 57% of companies are mainly looking for new HR technology because they can not do analysis with their current systems. As competition for talent grows, problems with adhering to a "Frankenstein" system will intensify. An integrated approach, for example, through an HCM platform that supports performance, work systems, and learning opportunities, gives a more holistic view of employees and enables HR managers to make strategic decisions. Here are some of many application examples that enable such HR technologies:
These examples show that an overall HCM is much more than the sum of its parts. The data analysis possible by connecting the individual segments creates a value that goes far beyond HR operational duties. Even if much is said about automation, intelligent personnel will remain irreplaceable. Rather, HR should be freed from routine tasks and get receive stronger foundations for decision-making. McKinsey sees HR leaders of the future as "Talent Value Leaders" who develop a talent strategy for the current and future needs of their organization.
To stay competitive in today's labor market, companies should therefore consider some key developments in their HR technology choice:
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