In times like these, where the world is changing at an unbelievable pace and organizations are changing the way they engage with the candidates, it becomes imperative to be observant and learned from the world around you. As we race towards the new era, now is a good time to introspect and check what we have yet to capitalize on. It won’t be far before 2018 sweeps in with its own list of emerging trends and technologies that we have decided to move it to the sidelines. Let’s view these events which brings with them some valuable learnings.
The first one is simple to comprehend and is a no- brainer. If you aren’t adaptive you will not welcome change. The only way to stay ahead of your competition and business strategy is to go with the change. The digital world has permeated almost every aspect of our lives and we are living in truly amazing times as the pace of technology change continues to accelerate, bringing ever-faster impact to the ways in which we work, learn, engage, communicate and live. This may be not new to you as we have heard it often but this change is no longer just a technological change—it’s a cultural one. And something we can’t afford to ignore.
Integrate Digital Platforms in Alignment with Your Vision
Today’s digital platforms are the dominant innovation and collaboration channel. Software such as HRMS and BI provide powerful capabilities and solutions for better collaboration, process automation, deeper data analytics, and operational excellence. So, choose the right platform that would help you attain the speed, scalability, security and growth required in digital transformation. Keep in mind that the core objective of transformation is to enable businesses to operate smarter, and in modern ways that benefit customers and the bottom line.
Bring the Right Experts on the Table
Pick your partners carefully. Digital transformation is a not a one-day project. Your business may need experts across the board which includes technical evangelists, enterprise architects, business analysts, creative specialists and operational experts. Digital change will involve new forms of challenges, thus look for a strategic partner who can drive your digital transformation initiatives. A partner who will guide you through the entire journey and help you make the informed decision about the right products and services.
Raise Digital Spending to Increase Gains
On an average, companies are currently spending, 12% of their current revenues on digital initiatives. But, in our view, spending needs to rise even higher. In fact, spending is expected to increase to 16.5% by 2020. Deploying HRMS software to automate payroll, expense, travel, performance and HR processes could actually turn the economics of the back office. For example, how the Mankind Group used and deployed HR-One HRMS to outmaneuver the competition and streamline their operations and processes.
The message is clear: The cost, efficiency and revenue pay-off is much higher at organizations that embrace digitization. We believe it is imperative for industry players to not only reduce costs with digital but to also drive value from it. The greatest benefit of living in this era is that you have the power to use these emerging technologies and customize it as per your exact business demands to see your business going forward and scaling new heights. Willing to talk to us as how to converge in the digital era? Talk to us.