11 May
2016

3 Benefits of the Cloud for Human Resources

Managing a company’s day-to-day human resources needs is a challenge. The daily demand of payroll reports and approvals, information requests, compliance reports and applicant tracking can be burdensome and distracting, especially if you don’t have a dedicated HR manager. Another common problem businesses face is having multiple systems and administrators, which makes it difficult to track and coordinate processes across the company.

This has led many businesses to embrace cloud-based HR strategies. With nearly every HR software provider offering a cloud-based option, it has never been easier to switch to a cloud solution. Here are three reasons why your company should consider the cloud for your employee management needs:

 

Innovation and Productivity

Because today’s business world is evolving so quickly, you need to be able to adapt and innovate or risk falling behind. Dan Staley, PwC’s HR Technology leader, explains to Big4.com that compared to on-premise software that is upgraded every three to four years, the cloud gets a new functionality every six months. He says, “The software is ready to go and much more innovative.”

According to a PwC’s Annual HR Technology Survey, 57 percent of North American companies are focused on innovation in cloud software for their HR departments. Larger companies are especially concerned with staying ahead of internal customer demand, and 45 percent look to take advantage of software innovations and quick release schedules. When all of your software and applications are up-to-date, your employees don’t have to wait for lagging computer programs or delayed upgrades. They have the best cloud technology to be productive and work efficiently.

 

Employee Recognition

Cloud computing helps you recognize which employees and departments are performing up to and exceeding your standards. No longer do you have to wait for historical analysis, but rather you can use real-time data that integrates with your other reports and software platforms.

In addition, you can encourage your employees to collaborate and recognize each other instead of having a top-down approach. According to Globoforce, 78 percent of companies believe crowdsourced recognition is helpful for performance reviews. This means you don’t have to have an employee of the month or a yearly survey to gauge employee performance but rather you can use cloud-based HR applications to empower your employees to immediately recognize each other for their hard work.

 

HR and Finance Collaboration

No matter how your other business factors are doing, your bottom line is what keeps your business running. Human resources and finance departments work close together with cloud-based tools like Workday Planning that combine financial and workforce data. Workday Planning enables you to use collaborative worksheets that include budgets, headcount management, performance management, and reporting and analytics. Because your HR and finance departments have access to the same data and analytics, they can work together more efficiently to make sure you are hitting your bottom line.

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