What You Need to Know
For well over a decade, employers have been ripping out legacy deployments of software for human capital management in favor of superior, cloud-based solutions delivered via software-as-a-service (SaaS). Providing the impetus for their decision to leave these often on-premises solutions behind is, typically, some combination of factors: the desire to emancipate HCM from pernicious inefficiencies, the business rationale to lower IT-related labor expenditure and eliminate expensive yearly maintenance fees, and more. Modern technology for HCM tends to deliver automation that greatly alleviates the administrative burden associated with the last generation of software for HCM. It is unacceptable today to accept highly manual processes in payroll or anything immediately surrounding it—e.g., the human resource information system (HRIS, a.k.a. core HR), time and attendance, scheduling, benefits administration.
With the change comes more, however. Modern technology for HCM delivers innovation, flexibility, and data transparency. Aspirational HCM focused on improving and buoying employee sentiment becomes something organizations can consider doing (3Sixty Insights BWSRN2142 – Concrete vs. Abstract HCM: The Power of “And,” April 2021). The technology they have gets the low-level, unnecessarily time-consuming work out of the way. This helps them save considerably on labor expenditure. Call this tactical. 3Sixty Insights calls it concrete HCM. Going far beyond the automation of tedious, repeatable workflow, meanwhile, modern HCM technology supports mobile internal applications and responsive self-service functionality. It provides real-time visibility into people data. It makes people analytics sophisticated—predictive and prescriptive. This is all the stuff of strategic HR, what 3Sixty Insights calls abstract HCM, an attention to employee sentiment and its inextricable, eventual link to everything the C-suite appreciates: increased revenue, reduced cost, and mitigated risk.
Where these employers that make the leap into the cloud exist in their journey runs the gamut. However, the decision to leave old HCM software in the rearview mirror positions them from a technological standpoint to lift their HR operations out of cost-center old-think to take on a future-of-work mindset. The organizations that initiate and matriculate successful cultural transformation get to that other side.
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