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Smart HCM Strategies Proven to Work in Tough Times
In challenging times, the burden is on the CIO and CFO to demonstrate how IT investments in specific business projects can help drive short-term savings or make a long-term impact to the bottom line.
These three strategies have been proven by customers to deliver valuable results within a short timeframe:
- Automate Service Delivery
Automating HR service delivery provides employees with self-service options and lifts the burden of mundane tasks from the HR professionals. According to CedarCrestone, organizations using workforce service delivery solutions can expect to save 20 to 80 percent in process time, lower HR administrative headcount by up to 25 percent with a shared service approach, and lower HR labor costs (up to 60 percent) over time.
At Cox Communications, employees gained real-time access to data and self-service tools, and the company has redeployed 2 to 3 percent of employees away from administrative duties, particularly in the time-consuming area of benefits open enrollment.
- Take an Active Approach to Talent Management
In a downturn, crucial business decisions must be made that can affect employee morale. Layoffs and job optimization may be needed, rewards may need to be distributed to smaller groups, and lack of good succession planning could expose organizations to even more risks. By taking an active, integrated approach to talent management, organizations can help ensure that the workforce and organizational goals are aligned, employees are more engaged, and workforce talent and performance are effectively optimized.
By implementing a statewide performance management system that’s fully integrated with core human resources, Georgia’s State Personnel Administration was able to ensure 100 percent of its workforce is evaluated in a consistent, statewide model.
“Georgia is one of—if not the first—state to roll out centralized e-performance. Oracle’s PeopleSoft Enterprise ePerformance allows us to document and track the process, ensuring all agencies are completing it consistently, ultimately driving employee improvement,” says Marion Fedrick, assistant commissioner, Georgia’s State Personnel Administration.
- Engage and Develop the Workforce
The science shows that employee engagement affects the bottom and top line. Ranging from costly problems such as absenteeism, health and safety, and retention, to revenue influencers like customer service and innovation, it’s clear that business success can be impacted. Implementing performance and learning solutions in an integrated platform can help improve employee engagement and reduce business risk. Georgia’s State Personnel Administration improved overall employee performance by providing feedback to employees year-round and giving employees and managers tools to make notes and track progress.
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