According to an article that appeared in Talent Management, HR technology purchases seem to be growing. Drawing from information from a Human Capital Media Advisory Group survey this March, the source cites an emphasis on purchasing new solutions to handle important HR tasks. While not every area of HR seems to receive equal attention, the majority of respondents (51 percent) say their HR tech spend is growing this year compared to the last.
The report looked at eight different categories of HR software types, assessing the amount of respondents specifically using each one. Among these, the category that garnered the highest response from companies who say they “already use it,” was mobile, which 38 percent said they employ. The software that the most subjects said they plan to invest in concerned onboarding, while nearly 60 percent said they had no intention of purchasing wellness software at all.
The Hackett Group has also conducted research regarding HR organization expenses. According to a press release, the “world-class” HR businesses spend 37 percent less than the competition, and also boast operation excellence.
Harry Osle, Global HR Solutions Practice Leader, described the way that top performing companies are primed to meet industry challenges.
“In the face of unprecedented competition, extreme market volatility, and disruptive change from new technologies, the need for agility is greater than ever before,” he said. “Most HR organizations are challenged by flat budgets and FTE counts. But some are succeeding, largely through a focus on operational excellence, leveraging specific capabilities which are correlated with high performance.”
HR system selection guidance can help businesses make appropriate choices as they search for a solution that corresponds to their HR needs.