Insights from Unified Workforce Management Systems Can Help Large Employers Refine Talent Strategies and Drive Global Growth
ROSELAND, N.J., March 18, 2015 – More than two-thirds of multinational companies (69 percent) rank talent acquisition and tracking as the workforce management strategy with the greatest impact on their organization’s business objectives, according to new research released today by the ADP Research Institute®. Yet, 49 percent of study respondents also said talent management is their top business challenge. This disconnect directly affects global organizations’ ability to achieve their top business goal of expanding into new markets.
“Successful growth requires a data-driven talent strategy that enables companies to build a better workforce,” said Mark Benjamin, president of ADP’s Global Enterprise Solutions business. “A streamlined workforce management infrastructure can help multinational organizations uncover insights on market-specific talent drivers to inform strategic staffing decisions.”
However, many multinational companies continue to grapple with a complex set of disparate HCM systems and processes, according to the new white paper by the ADP Research Institute, Harnessing Big Data: The Human Capital Management Journey to Achieving Business Growth. Global employers currently manage an average of 33 payroll systems and 31 HR systems – a 40 percent increase from last year, the study revealed. The situation is even worse for multinational organizations with headquarters in emerging markets, such as Asia-Pacific and Latin America, which manage an average of 40 to 50 different systems for payroll and HR.
This high volume of disparate HCM systems – and the need to comply with evolving workforce regulations across multiple regions – continues to drive the need for consolidation. More than two-thirds of survey respondents said they want a more unified HCM system to simplify workforce management and help them unlock insights to support global expansion and business performance.
Other key survey findings include:
- Global agility and building/recruiting top leadership talent are multinational companies’ second and third most important global business objectives after expanding into new markets.
- Bridging cultural differences and compliance requirements round out the top global business challenges facing global employers.
- Nearly two-thirds (62 percent) of North American HR executives at multinational firms say the number of employees outside their headquarters country will increase in the next one to two years.
“As HR leaders take on a more strategic role in supporting business growth, their ability to simplify HCM tasks and uncover deep insights into the human side of work is critical to their companies’ success,” said Benjamin.
To learn more about HRchitect and how we can help your organization, please visit www.HRchitect.com. As the leader in Human Capital Management (HCM) Systems strategic consulting, we offer end-to-end HR technology consulting services focused around strategic planning, evaluation and selection, project management, implementation, change management and ongoing support of HCM systems. After more than 17 years in business working on over 2100 successful engagements for more than 900 clients across the globe, HRchitect is a name you can trust for all of your organization’s HCM technology-related consulting needs.
Press releases posted on HCM Tech Vendor News are provided to HRchitect by the technology vendors and posted by HRchitect as a service to our readers.