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Highlights:
- The business of the future and why digital transformation cannot be avoided
- Why HR leaders are key to the long-term success of digital transformation
- Why digitising business functions such as payroll positively impacts your businesses most vital asset- its human capital.
The organisation of the future. The business of tomorrow. These are the descriptions that usually walk alongside the latest technology, innovation and conversations about digital transformation. However, they should be less about the power of digital and more about its impact. Companies that want to thrive in the changing business economy shouldn’t define their success by how they implement digital, but how they use digital to support their people.
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HR leaders are key to the long-term success of any digital transformation strategy because it is they who ensure that the culture of the company is agile enough to handle change. As McKinsey points out, the odds of success measurably improve when HR is a strategic partner. This is echoed in an article by the Society for Human Resource Management (SHRM) which found that equally it’s digital transformation that’s providing HR practitioners with the tools they need to maintain ‘a culture of visibility, transparency and responsiveness.’
Every touchpoint within the employees working day forms a part of the payroll and HR process. Every digital moment, every keystroke, every call. Employees are part of the very fibre of the organisation and if they don’t have visibility into their payroll structure or feel that the organisation is transparent in its approach to salaries, management and work-life balance, then they are more likely to quit.
In fact, a recent study taken by ConsumerAffairs found that higher pay, better benefits, insufficient raises, needs not met by pay and pay inequality form the top five reasons why an employee will leave a company. The same survey also found 55% of respondents felt that when they left their roles for new jobs, their pay and job satisfaction improved significantly for the better.
“There are several ways in which HR practitioners can use digital transformation tools and solutions to revitalise how they approach compliance, payroll and employee engagement,” says Stephen Howe, Director of Times 3 Technologies. “It’s a delicate ecosystem that needs constant refinement to ensure that payroll and people are kept at the forefront of decision making across every part of the business.”
This is why it’s become critical to invest into solutions that pull on all the threads across HR and payroll to create a highly agile and transparent platform that’s accessible to employees and engenders trust and engagement. It’s not as complicated as it sounds. Organisations can customise and personalise employee payroll and HR connections and provide access to self-service options that allows the employee tofeel more in control of their relationship with the company. HR can then use the data and insights provided by the platform to gain visibility into workforce trends and problems, which allows for leadership to shape decision making more effectively.
Sage 300 People has been designed to provide HR leaders with these tools, helping them fully realise the potential within their human assets. It also makes it much easier for HR to ensure that payroll is up to date and aligned with regulations, and that all systems remain consistently compliant across the board. With Sage 300 People, HR can move deeper into its employee insights and use these to create tighter and more coherent experiences. In addition, it can ensure that payroll benefits and salary structures are commensurate with the market and best practice.
Times 3 Technologies, a Sage Platinum Partner, is a Sage 300 People Implementation Partner, providing organizations with a fully connected, highly agile and transparent HR and Payroll platform that will redefine expectations, and which puts people first.
