HRs Growing Impact on the Corporate Bottom Line

Dec 18, 2015 12:41:49 PM / by Sarah Spangler

HR departments today are tasked with a growing list of responsibilities.  How well these are handled has an increasingly significant impact on the overall success of the organization.

Human Resources (HR) responsibilities have changed significantly over the past decade. Today, they are more focused on the challenges of finding and keeping employees with specific skills - as well as keeping tabs on changing recruitment needs. Today, HR is viewed as a central and influential change agent in the drive for success and growth.

More than ever before, HR leaders are being asked to step up as strategic business partners and play a greater role in influencing decisions.  Companies are even benchmarking the impact of HR directly against their financial results.

What has influenced this shift of focus? I think that the speed of change on the business, regulatory and demographic fronts has a lot to do with it. In big and small companies, HR departments need an incredible level of agility. Think of tax and regulatory rules in a constant state of flux, stock market volatility making those stock options look a little less secure, changes in health benefits, even the spotlight on executive pay.  There's a lot more to HR than hiring and firing.

There's a lot of pressure to control expense while rewarding talent and still stay on the right side of regulations. How can the HR function meet the expectations to perform better, smarter, faster and cheaper?

Technology is part of the solution. Which technology is, of course, the key question. Which applications will make your job easier and keep things from falling through the cracks, and which will drive you crazy because they're difficult or hard wired for the way the company was last year? Which software will give you the insights and data you need to make informed decisions?

Issuetrak has been working with customers' HR departments over many years, and here's how we've seen our application making a difference in this function:

  • One of our customers has been able to save substantial amounts switching from ad-hoc computer purchases for new employees to a central workflow system linked to HR’s new hire/termination processes. This has had a critical impact on efficiency since, as many of this particular company’s workers are seasonal and it is a large, global organization, the HR function experiences continual, intense bursts of activity from different areas of the world.
  • Another Issuetrak customer moved its outsourced benefits system in-house, but needed to ensure rigorous compliance with multiple State and Federal regulations. The HR department uses our application to help streamline and optimize a number of key processes.
  • Yet another customer told us that – beyond process management – the data available to HR has enabled the department to take part as a strategic contributor to the bottom line of the company. By analyzing the data they get from Issuetrak, they are able to identify recurring problems to addrss, or areas of excellence that can be replicated around the company. By providing actionable insights to the executive team, HR is able to make a real contribution to the company’s financial success.
  • Finally, the HR department of a growing global organization with more than 20,000 employees is using Issuetrak – having previously relied on manual processes - to handle employees’ HR support requests while remaining compliant with regulations in multiple worldwide locations. During Open Enrollment season this can equate to more than 700 open tickets at any one time. Definitely a case for technology to shoulder the burden.

 

 

 

Topics: Issue Tracking, Work Flow, Human Resources

Sarah Spangler

Written by Sarah Spangler