by Andy Monshaw
Running an agile business has never been more vital. All organizations must adopt the ability to react fast to change; to new entrants, to the changing expectations of employees and to merge and uncouple HR and payroll processes fast. The success or failure of business growth and Mergers & Acquisitions can hang on your ability to act to deliver change within your business to the tightest deadlines, over which you might have little control.
This last decade has been exciting. We’ve seen the digitization of services. The next will see the complete digitization of business. To be ready, 2019 is the year that HR and payroll modernization must move from conversation to action, if it hasn’t already, to ensure you have the talent and tools needed to deliver your 21st business strategy.
As businesses and work are changing, your workforce is changing with it. We now have 5 generations in the workforce and they all have different needs. At the same time, business is often global, as is the competition for the best talent.
New ways of working are replacing the traditional employer-employee relationship: new companies, many from emerging economies, set themselves up to succeed in the digital economy: no offices, virtual teams, contingent workers and everything in the cloud.
More established businesses can’t move that fast, steeped as they are in legacy. In the instances of global growth and M&As, burdened with complex mixes of manual and HRIS platforms, which also carry create risk of data and compliance breaches. If you’re not able to predict and react fast to changes you will be left behind. The digital world can be unforgiving. This all sounds rather scary, but really it is not. To continue to be successful is relatively straightforward.
All organizations need agility; the ability to react fast to change; to have quick insights in workforce, costs, skill sets and location. merge and uncouple HR and payroll processes fast. The success or failure of M&As can hang on your ability to act to deliver change to the tightest deadlines over which you might have no control.
My recommendation is to embrace digital HR Transformation. This will give you visibility of your workforce supported by insights, essential as this holds the secrets to your business success. The ability to draw business intelligence from integrated data is the only way to maximize productivity and opportunity. The future of business success is hinged on you having the right people, equipped to deliver.
If you’re not already on your digital HR journey, 2019 is the year to accelerate your plans.
Take a look at my insights into the changing structure of business in this video.