User experience ratings also take a tumble: Survey
Over the next couple of years, employers of all sizes are planning to boost their investment in HR technology.
That’s according to a survey of global organizations by Sapient Insights that finds 55 per cent of companies with at least 5,000 employees plan to increase their budget on HR tech. A similar percentage is true for companies with 500 to 5,000 employees (54 per cent).
On the smaller scale, with fewer than 500 employees, 35 per cent of employers are planning an increase to tech investment, while 57 per cent intend to stay the same, finds the survey of 698 employers.
Overall, the average expected increase is 21 per cent.
Lower satisfaction
When it comes to grading experience, the numbers aren’t encouraging: there’s been a six-per-cent decline in user experience ratings and a seven-per-cent decline in vendor satisfaction ratings.
In addition, 40 per cent of buyers are looking for better reporting functionality — up 30 per cent from last year.
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Many organizations had to pull together large volumes of HR data during the pandemic, which highlighted problems with reporting functions in their HR platforms, said Sapient Insights group chief research officer Stacey Harris, in an interview with SHRM Online.
"Respondents in the study were specifically commenting that their reporting functionality wasn't flexible enough, it wasn't easy enough to share data across the organization in a secure manner and that it required more expertise to use effectively,"
Switching technology
In addition, more than half (59 per cent and 52 per cent, respectively) of employers are considering or will change their time and payroll technology in the next 12 to 24 months, finds Sapient Insights.
But less than half of employers are planning changes around:
- Analytics (50 per cent)
- Learning (48 per cent)
- HR service (46 per cent)
- Benefits (37 per cent)
- HRMS (34 per cent)
- Recruiting (32 per cent)
- Performance (30 per cent)
- Compensation (22 per cent)
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When it comes to HR analytics and planning applications, these are most often used for benchmark HR metrics (52 per cent), followed by managing retention risks (38 per cent), improving employee engagement (38 per cent), managing HR costs (37 per cent), identifying or attracting top talent (36 per cent) and optimizing workforce margins/productivity (26 per cent), finds Sapient Insights.
