Where Do You Rank? HR Technology Advisors Survey Results
HR Technology Advisors conducted a nationwide HR, Benefits and Payroll Technology survey earlier this year and discovered that adoption of HR Technology is on the rise for employers of all sizes and geographical locations. Some 47% of employers are currently without an HR Technology solution, and the need for automation and efficiency is growing rapidly. More than 20% of these organizations indicated they would be seeking out new technology platforms within the year.
Utilization of Technology by Organizational Type
Looking at the utilization chart above, we can see that most organizations use a payroll platform, and between half and two-thirds of employers use HRIS and Time & Attendance systems. Benefits Enrollment technology is quickly climbing up the scale as well with an average 40% uptake in the marketplace. We at Hickok & Boardman HR Intelligence are also seeing this trend with increased inquiries into Benefit Enrollment technology; but also, a move towards a fully integrated system which encompasses HRIS, Payroll and Benefit Administration.
Typically, companies have sought a “best-in-class” solution for payroll, HRIS, and ben-admin systems – separately. The cumbersome part of this method is when it comes to data input between the multiple systems. Some may find themselves entering the same information multiple times into multiple systems, with more room for human error and a process that screams for improved efficiency. But many vendors now have fully integrated single-integration systems which either have real time multi-system updates or else feed information between payroll, HRIS and ben-admin allowing for much improved efficiency and user satisfaction. Survey results show more than 85% of employers prefer a single-integrated Payroll, HR, and Benefits system as opposed to combining stand-alone “best-of-breed” solutions (such as benefits enrollment) to their current process.
So when it comes to HR Technology, where do you and your organization rank? Do you find inefficiencies in your current processes? Or have you found the perfect solution(s) to meet your needs? You may already have a strategy to move ahead or possibly you don’t even know where to begin. With countless HR Technology choices in the marketplace, it can be difficult to know where to start and what choices to make. We at Hickok & Boardman HR Intelligence can help. Contact us to learn more about the tools we have to help you navigate the HR Technology marketplace and find the right solution for your organization.