As companies think about a new year’s priorities, employees are often at the top. Cloud-based solutions are providing human capital management a much needed boost in driving employee efficiencies and reducing costs. Consider these figures:
- Using cloud-delivered HCM services, enterprises may experience reductions in total cost of ownership (TCO) of up to 36%, according to International Data Corporation (IDC)
- 33% higher revenue and 95% higher net income per employee is recognized in organizations with an integrated HMS and Talent Management solution, according to a Cedar Crestone Survey
Transforming human capital management doesn’t have to be a big undertaking. A large SI’s global deployment to 20,000 employees across five countries introduced core HR in 6 months and compensation and performance management capabilities in 3 months. They’re taking advantage of the cloud cost savings and significant efficiency and employee productivity gains, as they enhance employees’ user experience and business performance.
Bottom Line: In the human capital management (HCM) arena, technology helps firms attract and nurture top talent. Having the right HCM processes and tools are especially critical to powering fast growing companies.