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Finding the Right HR Tech for 2022 and Beyond

Today’s employees don’t just enjoy working with tools that deliver the same level of ease and convenience they have in their daily lives — they expect it.

And considering our historically tight labor market, enterprises everywhere need HR technology that’s capable of meeting and exceeding this expectation now and in the future.

A recent study from Fortune Business Insights predicted the value of the global HR tech market will leap from the current $24 billion to $35 billion by 2028. This will increase the need for businesses to adopt intuitive, comprehensive HR tools to attract, engage and retain their employees.

Understanding the differences

Knowing how HR tech providers vary helps you determine what’s right for your unique workforce. But regardless of the vendor, the best options should share one focus — the employee.

When employees truly own their data by entering their information and verifying its accuracy, it elevates your business, too. Empowered employees help reduce costly and time-consuming mistakes, drive efficiency and lower turnover due to their elevated levels of engagement.

Many options may offer a wide collection of tools, but the most effective HR tech unites them in a seamless experience.

Single-source HR software involves the integration of several different systems, often requiring separate login credentials — employees’ top frustration according to a survey conducted by OnePoll and commissioned by Paycom.

Single-application HR tech, on the other hand, includes all of its tools and functionality within a single system, so data flows seamlessly across your organization and updates in real time. Likewise, employees only have to enter their data once, resulting in consistent reporting and boosted compliance by preparing you for audits.

Ease of use

HR software is only useful if your employees are able to readily use it. The best options offer a full-spectrum, self-service tool that’s accessible anytime, anywhere.

Employees should be able to manage and interact with every aspect of their HR life, including personal information, benefits, taxes, time tracking and payroll. This reduces data reentry overall, empowering your HR team to focus on higher-level, strategic endeavors.

The right HR tech should also allow your managers to approve time sheets and time-off requests, create schedules, assign goals and track employee development.

In turn, it should also provide your leadership with the analytics they need to make critical choices and pivot in the face of such challenges like turnover, emerging legislation and more.

Boosting culture and engagement

Regardless of your enterprise’s size and locations, effective HR software should bring your workforce together. To do so, consider an option that prioritizes the employee experience and communication.

For instance, employee-driven payroll empowers employees to view, troubleshoot and verify their pay. This helps foster a culture of trust and transparency within your organization by giving your workforce insight into a process they’ve been historically removed from.

Additionally, consider an option that allows you to efficiently request feedback from employees, such as using companywide surveys, to help you make business decisions that are informed by their needs.

Supporting your brand and recruitment

As the war for talent intensifies, the perception of your business becomes increasingly important. Modern candidates don’t just look for jobs, but platforms to launch their careers with valuable skills and development opportunities.

The right HR tech makes it easy for candidates to find and apply to your organization by automatically posting your openings to the most popular job sites; giving managers thorough communication and candidate comparison options; and engaging a potential employee through the onboarding process and beyond.

“We went from struggling to hire 30 people in a month to capable of hiring 30 people in a week,” said the HR director of a California nonprofit using Paycom.

Be audit ready

New laws affect companies every day. And the right HR tech should help you work through them.

Effective tech will provide a tool to help you comply with the latest changes related to:

  • COBRA
  • ACA
  • FMLA
  • OSHA
  • and beyond

The best option should also be ISO 9001- and ISO 27001-certified in order to affirm the quality of its management processes. This should also deploy a secure, cloud-based storage solution that enables you to quickly find and produce crucial items.

Above all, make sure your HR tools align with the needs of your workforce. In doing so, you’ll do more than purchase a product — you’ll build a relationship with a partner as committed to your enterprise’s success as you are.

For more tips on choosing the right HR tech, watch our on-demand webinar and check out this infographic for a brief overview.

 

DISCLAIMER: The information provided herein does not constitute the provision of legal advice, tax advice, accounting services or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional legal, tax, accounting or other professional advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation and for your particular state(s) of operation.