Human Resources is an important department of many businesses. This department deals with the ever changing and difficult task of managing benefits offered to employees. HR technology can help deal with the different tasks that require HR solutions. HR platforms are designed with the specific task of aiding HR departments in the daily efforts of managing the business. The HR technology can increase the efficiency of the HR workers and help share information between parties. HR technology makes jobs easier so your HR department can get more done with fewer people. Here are three trends Human Resources departments face.
1. Training affects employees retention. One way to increase employee retention by up to 69% is to have a structured onboarding orientation. New hires are more likely to stay with a company for three years with this type of orientation. HR departments need to put together comprehensive training programs for new hires. The structured training programs take time to put together, but the reward is higher employee retention. By retaining existing employees instead of constantly hiring new employees, your company can focus more on business and less on training. This saves your company money, time, and frustration.
2. Employees want many benefits to work for a company. Nearly 66% of employees working for companies that offer 11 or more benefits would describe their employers to others as great places to work. By offering more benefits, companies can recruit and retain more talent and higher quality talent. This can help your company grow and put out more top-quality product or services. The employees are the heart of the business and recruiting top talent is one of the goals of an HR department. This is a goal HR technology can help with.
3. Health and wellness benefits can impact decisions. Health and wellness benefits influence where millennials choose to work up to 40% of the time. Yes, other things like payment and vacation are important, but some young people will make their final decision based on the heath and wellness benefits offered. If your company does not offer health and wellness benefits, potential talent could go looking to other firms for employment. This could hurt your company’s ability to expand and remain competitive.
HR technology and HR software can help manage the different aspects of your company’s HR department. It is difficult to stay on top of the changing regulations and the emerging trends that affect a workplace. HR technology can help simplify the challenges and increase efficiency. Make sure your company has opportunities to expand by giving your HR department exactly what it needs to recruit and retain the best talent available.