Did you know that only 34% of HR organizations are prepared for the necessary transformative changes they need to make for the future? This disconcerting finding from the PwC's 17th Annual Global CEO Survey reveals the pressure put on business leaders to transform their HR organizations and drive business value. Making matters worse are cost constraints, demands to do more with fewer resources and, align HR with the business. Most HR leaders lack reliable and innovative HRMS tools to pursue transformative HR strategies that deliver value to their organization.
While many HR leaders have transformed their talent strategy by adopting talent management systems, only 16% of HR departments currently have their core HRMS application in the cloud. However, 45% of organizations will move their HRMS to the cloud within the next year, per PWC's 2013 HR technology survey.
To make good on the premise to align with the business, HR must modernize and transform. To be an agent of change, HR needs to choose the right human resource management system in the cloud to manage the entire employee lifecycle. Disparate, on-premise solutions where core HR functions like payroll and benefits are processed in separate systems are not integrated with those used for talent management, workforce optimization and training. This disconnect hinders ease of use, diminishes user experiences and makes data difficult to analyze for valuable insights.
So what are the benefits of Oracle’s cloud-based HRMS solution, Human Capital Management Cloud? Cedar Crestone sees lower annual costs per employee for a cloud-based HRMS, rather than for a licensed, on-premise solution. Its 2013-2014 HR Systems Survey (PDF) concludes that HR leaders are moving to a cloud-based HRMS because;
The 21st century economy is mostly services-driven. Winning companies focus on two things: taking care of their employees and taking care of their customers. David Ulrich, RLB Group, describes a true HR transformation where "HR work is done within an organization so that it helps the organization deliver on promises made to customers and business partners."
Today, HR organizations have access to new innovative technology and real-life HRMS cloud solutions to drive business value.
Re-think your technology, think Oracle Human Capital Management Cloud Service.