Thomsons Online Benefits’ study on the big HR tech disconnect discovered that there is a difference in the way businesses perceive their technology approach (creative and advanced) and the fact (lacking resources or knowledge to evaluate if their benefits expenses are contributing to the corporate goals achieving.
Some main finding from this research include:
- Almost every organization is preparing for the future of work. The most common actions have been taken include identifying the gap between current and required skills supply; developing a future-focused people strategy and adapting skill requirements to new technologies and business objectives.
- Enhancing employee engagement has replaced talent attraction and retention to become the most important goal for benefits strategies while less focus was given into reinforcing corporate culture compared to 2018. On the other hand, global mobility and individual performance motivation have become more important in 2019.
- Nearly half of respondents claimed that low or decreasing employee engagement and lagging productivity are the top risks for their human capital.
- More than 70% of people agreed that in 2019, globally consistent employee experience, being the least critical operational objective in 2018, is now the most important operational goal, which used to be tighter control of global costs in 2018. Some other goals which were not included on the list in 2018, such as global employee wellbeing programs or automating administration processes, were also considered to be one of the top objectives in 2019.
- One out of three respondents would consider themselves as innovators or early adopters of advanced HR Tech while only 7% of them admitted being conservative tech adopters. Similarly, when asked about their organizations a majority of the respondents would agree that their organization are either an innovator or an early adopter of HR technology.
- Most organizations prioritize learning and development; reward and benefits or HR operations when considering investments for technology. On the other hand, HR shared services; talent acquisition and payroll haven’t been prioritized as much.
- Almost half of surveyed organisations are currently using a best-of-breed integrated ecosystem while 39% of them are using a single HCM system.
Full report here.