HR Tech buying trends are hotter than ever, as the industry is experiencing one of the most disruptive periods it has seen in over a decade, and at least since the Macarena took the world by storm. The evolution of today’s HR professional continues with the continued growth of digital solutions that replace the paper models of the past.
Here are some of the top reasons that technology is as hot as Despacito…
- HR Systems and methods are outdated. In a 2013 survey by Bersin by Deloitte, it was found that the average large company had a HRSM that was 5 years or older, while half of them were 7 years or older. With the rapid speed at which technology changes, software is updated every few months, and if a company doesn’t keep up, their systems can become obsolete in a very short time. In addition to aging HR systems, the methods of today’s hiring, training, retention, and all the other daily processes of running a business are becoming more demanding.
- Cloud software is easier to buy. Because of competition, there are numerous products available, offering both options and affordability. One of the advantages of purchasing a cloud-based solution is that you don’t have to “start over” when upgrades are needed, as the vendor provides these for you.
- All-in-one solutions. Did you know that the average company has 3-4 HR applications? Not only is this more costly, but it also multiplies the work, which can lead to confusion, frustration, and inefficiency. Today’s market offers all-in-one solutions that streamline processes, maintain compliance, and even order take-out. Ok, maybe not the last one, but you get the picture.
- Mobile is the rage. According to a recent study, we execute 221 tasks on our smartphone, daily! That’s 58 more than on our PC. Today’s top cloud-based software has a user interface that is fully functional on mobile devices. This function alone allows work to be done anytime from anywhere, saving time and money.
- Because talent matters. Recruiting, training, and retention of top talent are the biggest challenges for today’s management. While software systems used to be purchased for the benefit of HR processes, today’s systems are developed to guide an employee from recruiting to full productivity and beyond. Top providers offer solutions that not only help a company hire great candidates, but they help retain them, while improving the company’s culture.
There are many reasons why HR tech is booming right now, and trends show no sign of slowing down in the foreseeable future. Our aim at Essium is to provide you with a comprehensive, all-in-one solution that fits your company needs to revolutionize your business. If you’re not familiar with our Xenqu HR Software Solution, visit our website for more information, and request a demo.