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Many organizations are investing serious money and scarce resources to become digitally mature. While technology is at the heart of this maturation, unlessleaders are aware of and act upon everything that makes technology work - people, processes, culture and mindset—this could be an instance of arrested development.
Cultivate a digital mindset
There is deep seated—and quite natutal-- resistance to change. If resistance is acknowledged and addressed, there’s a good likelihood it can be minimized. HR leaders can bring employees on board with digital transformation by recognizing—and openly discussing-- changes to the culture. Much may be 35 gained, but some things may be lost.A compelling digital vision---actively shared and discussed with employees from the most senior levels of the organization--—will generate support for the objective, make the change tangible, and mobilize all functions including HR.
Digitalizing Human Resources
HCM and emerging technologies such as Cloud and AI have transformed the HR and employee experience and brought cost savings.
According to some organizations, HCM returns an average of $9.13 for each $1.00 spent. An initial implementation of cloud-based solutions can cost up to 79 percent less than on-premise solutions. And, savings can reach up to 90 percent on ongoing maintenance.
HR leaders involved in critical decision-making processes appreciate technology that reduces administrative tasks. A SaaS-based solution provides collaborative dashboards, accessible analytics, and substantiated insights. It offers HR the ability to give educated recommendations that improve organizations’ performance. Automated reporting and analytics tools save time. Decentralized HCM technology offers self-service options and gives more power to employees. A cloud-based solution accessed on traditional and handheld devices provides portability and access to real time information which enhances employee experience. Swift communication processes have helped employees maintain a strong relationship with their supervisors, feel connected with the company’s culture, and build trust. Digital tools have enhanced employee learning experiences and have added fun at work through real time online workplace games. A robust SaaS product can identify committed candidates which can decrease the number of regretted hiring decisions by 75%, according to a recent study. Internal chat platforms such as Jabber, Yammer and Chatter are a goldmine to scan employee pulse,identify frustrations, and come up with effective employee satisfaction and retention plans.
A digital approach to Business continuity
BCP is a process that outlines and mitigates potential impacts of black swan events,unforeseen disasters and creates policies to respond to them.
SaaS solutions complements BCP by offering real-time connectivity to ensure uninterrupted communication across all stakeholders. Companies that have invested in cloud-based platform approaches and modern architectures to support them take less time scaling their applications to meet challenges posed by any crisis, particularly those that operate in multiple geographies. Sensing and predictive modelling applied with AI technologies increase the value technology brings to the business and drive real-time results. For example, applying geo-risk modelling to determine impacts of storms, political unrest, and health concerns on supply chains can fortify them and empower executives to make better decisions on workforce and financial forecasts.
By using past data and leveraging AI and Machine Learning, cyber security teams can identify threat patterns and plan better protective responses.
Technology is a crucial enabler of success in the commercial, operational, and scientific sides of the business
