Intelligent SME.tech Issue 20 - Page 53

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SMBs embracing HR technology are better positioned to navigate Great Resignation

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FINANCE | SALES & MARKETING | CUSTOMER EXPERIENCE | HR SOLUTIONS
KG , a leading provider of HR , payroll and workforce management solutions for all people , has announced the results of a new study , with HR . com and the HR Research Institute , that may help explain why smaller businesses are recovering from the economic impact of the COVID-19 pandemic more slowly than larger businesses .
More than two years after the start of the pandemic , larger businesses are once again thriving , with workforce activity levels measured by UKG as much as 23 % above prepandemic levels .
However , smaller businesses , especially those with fewer than 500 employees , have yet to consistently achieve even the same levels of workforce activity they were experiencing in February 2020 , before the pandemic began .
Now , new insights from The State of the HR Function in Small and Mid-sized Businesses indicate that , despite the exponential Digital Transformation undertaken by many organisations to navigate COVID-19 , 45 % of small and mid-sized businesses are still limited to only partial automation across critical HR , payroll , talent and timekeeping processes . Another 15 % of organisations report that manual and paper-based processes remain the backbone of process and record-keeping .
“ Automation and Artificial Intelligence ( AI ) provide a tremendous advantage because HR leaders and people managers can shift focus from being a process manager to problem solver , elevating strategy and execution . This is especially important during times of uncertainty and rapid change ,” said Jess Griffin , Vice President of Product Management at UKG .
“ Small and mid-sized businesses that unburden their teams from time-consuming , repetitive manual work can instead focus on creating employee experiences that enhance business outcomes .”
HR professionals at small and mid-sized businesses , who reported influencing business strategy , were nearly twice as likely to have all HR processes automated . They also reported being :
• Five times more likely to use their HR data to make actionable recommendations .
• Four times more likely to be proactive in aligning people strategy to business strategy and goals .
• Three times more likely to be able to easily tie people ' s data to larger business goals .
• Almost three times more likely to use automation to simplify regulatory compliance .
Overall , just over one-third ( 37 %) say they anticipate and participate in defining business strategy for their organisations , while 30 % admit they wait to be directed on business strategy .
The remaining one-third ( 33 %) fall in a challenging middle ground , where they often wish to contribute but lack access to the right technology and information to have a meaningful impact .
“ Many leading HR organisations are embracing technology to transform the profession , which is vital in today ’ s fast-moving business climate ,” said Debbie McGrath , Chief Instigator and CEO of HR . com . “ By leveraging automation and AI , the HR role will have more time and deeper insights to better drive strategic business goals set by the company .” �
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