This article on HR Tech tools was originally published in May 2016. All relevant statistics and copy have been updated as of November 2020.
“If you always do what you’ve always done, you’ll always get what you always got.”
The quote’s origin is questionable. Attributed to multiple influential people like Twain and Einstein, it’s less about who said it, and more about what is being said: innovation and adaption are the only way to see growth.
Innovation and adaptation are the cornerstones of growth. Without striving to better your current processes, your organization faces the threat of becoming stagnant. For every good idea, there’s a better one, and for every inefficient approach, there is a great idea waiting to happen.
While it can be difficult to convince teams, it’s time to rethink long-standing business procedures, the data backs up the necessity of upgrading and expanding your HR Technology. Check out these three reasons you should look into updating your HR Tech tools.
Many Company’s Software Is Outdated
47% of companies have HR software that is over seven years old. On top of this, 45% of companies are still in the early stages of basic automation.
What does this mean?
Nearly half of the surveyed companies are using software they implemented back in 2013. Many of these systems are outdated or aren’t supporting the business functions as they should. Technology is always running a race and while keeping up is difficult, it is integral. With the pace of HR Technology, it’s crucial to stay ahead of the game.
The applicants you want to attract are updating their gadgets each year. The way you present your company through your website, application process, and candidate experience plays a significant part in the impression job seekers have of your organization.
As millennials become the majority of the workforce, having a mobile-friendly application process and a strong social media presence is an integral part of attracting high-quality candidates. Quick-mobile applications and an online presence attract 23% of the millennial talent pool. Despite this, only 10% of recruiters say they have been investing in mobile application tools.
The Trend Towards Remote Work
Over the last year, 88% of companies have offered their employees the ability to work from home.
The transition to a remote workforce has shed light on gaps in processes and technologies previously unnoticed. Companies need to have HR tech tools that support their remote teams, encourage heightened communication levels, and streamline their processes. Almost all HR system providers are now offering a cloud-based system that allows for easier tool integrations and eases frequent upgrading.
With so many companies using outdated software, this provides relief from the stress of changing and updating their systems. Implementing new tools is time-consuming, so cloud-based systems take the weight of continuous updates or yearly reassessments off HR’s shoulders. Bonus Material: See how technology is changing the way businesses manage performance
Reduce Turnover and Save Money
Companies with strong AI and HR tech tools see a 32% increase in employee productivity and a 43% increase in employee retention.
It is well understood that retaining your top talent saves your bottom line. In today’s uncertain climate, ensuring that your employees remain satisfied and committed to your goals will only benefit your team.
Many organizations have found that implementing HR Tech tools to support payroll can dramatically reduce employee turnover. This means that your HR department can focus less time and energy on recruiting and onboarding and instead focus on making your hiring process more efficient and effective.
Convinced your HR department needs an update, but don’t know where to start? Our team of experts is here to help! Schedule a demo today, or reach out to one of our specialists to see how ClearCompany’s Talent Management Platform can revolutionize your organization.