Organizations that fail to implement HR technology continue to experience avoidable losses in time and efficiency. But what does the lack of self-service software cost an organization?
Every piece of technology used by an organization as part of its operations is an investment. However, simply knowing there is a return on that investment is not enough. The ROI must be understood clearly, in terms of real numbers. It must be measurable.
Organizations that fail to implement HR technology continue to experience avoidable losses in time and efficiency. But what does the lack of self-service software cost an organization?
Every piece of technology used by an organization as part of its operations is an investment. However, simply knowing there is a return on that investment is not enough. The ROI must be understood clearly, in terms of real numbers. It must be measurable.
The technology associated with HR functions is no exception. This leads us to an examination of the trend toward complete digitization being led by the most forward-thinking HR and payroll software providers. One of the more salient features of this trend is a movement toward self-service software, the goal of which is to empower employees to complete their own HR-related tasks.
For HR professionals, the savings in time – and, by extension, efficiency – are well established. According to a 2016 nationwide study by HR.com, self-service tech saves HR teams an average of seven hours every week, freeing them to turn more of their attention toward areas of greater importance to their organizations.
The obverse is equally true, in that organizations that fail to implement such technology continue to experience avoidable losses in time and efficiency.
But there’s still a missing piece of the puzzle, something accounting professionals understand perhaps better than anyone else: What does the lack of self-service software cost an organization?
In other words, when an HR department remains stuck in outdated ways of doing its job, it operates with a heavy reliance on manual processes. Intuitively, business owners and C-suite executives know this costs them something – but how much, exactly?
