Need for HR analytics and in-depth timely reports is starting to drive enterprises to modernise existing or adopt new HR-related solutions.
According to a Greyhound Research study covering 750 Chief Human Resource Outsourcers (CHROs) from across the globe, 80 per cent enterprises prefer to roll-out chosen modules at a time, instead of going for an all-out solution. “As an example, Polycab Wires is adopting Oracle Human Capital Management (HCM) Cloud to initially roll-out performance and goal management,” said Anshoo Nandwaani, VP, Principal Analyst, Greyhound Research.
The research group also found that companies are preferring to go for best-of-breed modules specialising in certain areas within a particular business function. For instance, Hyatt Group of Hotels selected Cornerstone OnDemand for Talent Management in Americas and Saba’s Learning Management System (LMS) for delivery of training across devices, the study says. It also pointed out that Oracle customers are increasingly choosing cloud over on-premise. “Of the three IT decision makers present for the analyst briefing, all stated cost reduction as a key outcome,” said Nandwaani.
Contrary to popular belief that only large enterprises need HCM, Greyhound Research believes that SMEs can gain from these solutions. “HCM delivered on the back of Cloud and APIs can actualise benefits such as flexibility, scalability, easier integration with existing applications and delivery across devices. These gains are peculiarly important for SMEs that are stretched for IT budget and expertise to manage traditional systems.”
In essence, modern HCM solutions can enable SMEs to battle churn and attract talent, added Nandwaani. Recently Thriveni Earthmovers, signed up for SAP’s SuccessFactors to deploy cloud-based, which is faster to implement, and offers the flexibility to grow with the organisation. The solutions implemented by Thriveni Earthmovers in this first phase include the SuccessFactors Employee Central, SuccessFactors Performance & Goals Module and Recruiting Module.
Source: The Hindu Business Line