HR are under Pressure to Develop Digitalization Strategies
In order to cope with the rapid changes in the business world, companies are looking for newer, effective and productive ways to meet the evolving demands of doing business. Business transformation is disrupting HR and technology. Conbie Siu, Executive Director of Business Services of Tricor Group, said in an exclusive interview with this newspaper that digitalization has become an important global trend. Making good use of the power of employees is essential to the sustainable development of the business and for recruiting and retaining talent in the long run. We are now witnessing many traditional companies are actively carrying out digital transformation and using digital solutions to enable better strategic resources planning and management of related HR processes.
The Epidemic Catalyses Digital Transformation
In the recent years, digital transformation has become the top priority of many companies. Effective use of technology is seen as the watershed for the success of the company. This has led to corporate management actively embracing technology to serve marketing, logistics, sales, and customer services. Management need to formulate a digital strategy and focus on applying technological innovation to these services. Conbie said that digitalization also helps human resources teams to streamline and optimize internal processes. "In order to adapt to changes in the business environment, digital transformation has become the biggest challenge for companies. Human resources are no exception, combining the best technology, services and outsourcing solutions. The solutions will help promote the digitalization of enterprises, including applicant tracking, compensation management, employee portal and performance management to enhance staff cohesion, and even the use of technology to encourage and connect talents."
The coronavirus pandemic has caused many companies to rethink how and where they will implement technology to support digital transformation projects designed to keep their employees safe and productive. Conbie pointed out that this has accelerated the progress of digitalization. "Some companies may not have had plans for digital transformation before the outbreak of the epidemic, or even if they had started implementation of relevant plans, the progress is slow. The epidemic is undoubtedly a catalyst. Not only did it increase the number of employees working from home, but it also increased the frequency of virtual meeting due to the social distances measures, thereby creating a highly increased demand for technology. It is very vital for companies to have comprehensive innovative solutions to provide both online and mobile support, dealing with salary, benefits, performance management, recruitment, etc., and improving the work of manpower planning and talent management."
Digital HR Transformation Benefits Your Business
There are a variety of digital solutions in the market for human resources across the value chain. Conbie said that they are mainly divided into four categories:
- human capital management systems to manage and optimize an organisation’s workforce
- payroll systems to automate the payroll processes, calculate salaries and benefits, statutory deduction, generate payslips and tax returns
- employee self-service portal to access their payslips, tax returns, manage their leave, claims and reimbursements etc
- reports and data analysis tools
Digital HR solutions automate HR work processes to reduce time spent on administrative chores allowing HR professionals to focus on talent development and to formulate appropriate long-term talent strategies for the management to achieve corporate objectives. The enterprises must respond to modify their organisational structure and choose a suitable plan for business operations. Not only should you pay attention to the flexibility of the plan, but you also need to check whether the different modules in the plan can be integrated to manage all data conveniently.
Digitalizing HR to Improve the Employee Experience and Attract Talents
In addition to helping companies reduce complex administrative management, the adoption of digital HR solutions can also help improve employee experience. “Millennials have a different perspective on employment relationships as compared to traditional workforce of the last few decades. They are not only looking for high salaries, but they also value the cultural landscape of an organisation. Through technology management can optimize the office environment, create a high-efficiency paperless workplace. This is more in line with the modern working model and also helps attract and recruit young employees, while improving their professionalism.
A digital workplace enables employees to collaboratively work from any place without location or device constraints. A good HR digital solution should have all the tools required by employees to manage their personal information, payroll records, leave, overtime compensation, business expenses and rental reimbursements. A unified platform for employees to manage these processes not only improves efficiency and productively, but also enhances employee experience by not requiring to switch between multiple applications or keep searching for required information on different systems. When employees have a great experience working in an organization, they are happier and more engaged which directly which leads to better company results."
Simply put, for an enterprise to succeed, the human resource team must make changes in the digital transformation process and decision-making to make it more strategic and forward-looking. Digital solutions can help the company solve the current human resource challenges and improve the efficiency of personnel management, so that enterprises can focus on their core business and achieve sustainable development.
Learn more about TSS, the award-winning Recruitment Firm at https://www.tricor-ss.com/.