Date & Time: Wednesday, April 13, 2022 1:00 pm ET
Steve Brink, President of uFlexReward
How the many disconnected systems throughout HR have a negative impact and how to change it.
Throughout your organization, there are more internal systems in HR than anywhere else. You have an HRIS (or several across countries), equity systems, benefit administration systems, compensation planning system, global mobility system, and so on. The volume of systems is not an issue. However, these systems are disconnected and therefore suboptimal. This raises several challenges:
- Lack of visibility of the largest expense, total rewards by individual elements
- Lower Confidence in analysis on total spend provided because some data must be at an aggregated level with estimates or proxies
- Employee Engagement is reduced since it is expensive and labor intensive to show all the ways your organization rewards talent
- It is expensive to change, modify or transform these systems when your organization transform, i.e., technology is a barrier for HR transformation to address the changing business needs
We can take a lesson from other departments in the organization, such as Finance, Sales and Marketing. These areas have an aggregated software that maintains the current investment in these various point solutions but integrates the data from these various disconnected systems. Now, you can report, analyze, develop actionable insights on the areas of total rewards; while also being able to communicate and engage with employees.