Survey reveals increase in software expenditure
Australian businesses are part of a growing trend to invest in human resourcing technology such as recruitment software, a new survey has revealed.
The Towers Watson 2014 HR Service Delivery and Technology Survey polled more than 1,000 organisations across 45 countries, and found 33 per cent were spending significantly more on technology than in previous years. Over half (52 per cent) were spending around the same on productivity software such as payroll and just 15 per cent of businesses were planning to reduce their budgets.
Mike DiClaudio, global leader of Towers Watson's HR Service Delivery practice, said it was encouraging to see businesses make commitments around streamlining their process for the benefits of both customers and clients.
"Companies are realising the value that consumer-grade technology brings to HR and are willing to make smart investments that can grow and evolve with the business," he said.
"It also appears that companies are splitting their investments between core HR systems such as talent management and payroll, and next-generation technology including HR data and analytics, and integrated talent management systems."
The survey also reveals some interesting insight into the future of these technologies, with one in three companies stating that they plan to change their HR structure in coming years. More than half (55 per cent) believe it is important to put all recruitment and payroll systems in a streamlined process and to have done so in the last 18 months.
Mr DiClaudio explains that organisations are creating a balance between people, processes and technology priorities, and this will improve customer service in the future.
"We attribute this shift to high-impact HR investments, such as streamlining business processes and implementing manager self-service, to a commitment to running the HR function more like a business," he said.