While millennials pose a problem to the HRD, a human resource management system in the cloud grants foresight and solution to this potential threat in recruitment and talent management.
An info graphic from Oracle, titled Modern HR in the Cloud: Get Ready for a New Era of HR, reinforces the advantages of adopting a Human Resource Management System (HRMS) in the cloud. The said info graphic also presents solutions to recruitment and talent management problems which are perceived to arise in the current HR system of an enterprise or company in the nearest future.
One of the problems presented in the info graphic is the penetration of the millennials in the professional landscape. Believed to be born in the latter half of the 1970s up to the early 2000s, the millennials are the members of the society who are considered as the most adept in modern technology. They are the generation who are highly knowledgeable in using internet enabled gadgets and are the first to keep up in the ever fast paced turn over from one technological advancement to the other.
Besides being the more tech savvy group of people, studies also show a common trait among millennials that may challenge the current employee recruitment practices and reform the present human resource strategy; a great number of millennials, if not all of them, are more concerned on work satisfaction and work-life balance.
How is that a problem in maintaining a sound human resource management? Studies show that in 10 years from now (2025), 75% of the global workforce shall be overran by the millennials. This only translates to the idea that sooner or later, the HR systems in most places in the world must deal with three-fourths of the global workforce population who are more tech savvy and more concerned on work satisfaction and work-life balance.
Modern HR in the Cloud
Considering the mindset, perceived work attitude, and technological savviness of the millennials, studies hint that it is the best time to invest on a modern HR in the cloud where employees may access HR applications that are relevant, personalized, social, and accessible on the device of their choice. The modern HR is also expected to provide insights which most company leaders will need in making the right decisions and providing the optimal employee experience.
There is also an emphasis on the necessity of aligning Human Capital Management (HCM), data, and talent strategies around challenging trends such as increased competition for talent, worsening skills shortages, and existing social recruiting tools which enable workers to change jobs easier than ever.
The Oracle info graphic also seems to reveal some polarizing situation between the higher ups of a company and more than half of HR leaders. While 81% of CEOs believe that mobile technology is strategic for their business, and though there is 74% of HR leaders who believe that mobile recruiting tools result in better candidates, there is still a significant 56% of HR leaders who state that their capability in using the fullest potential of social media is weak.
Despite the 56% of HR leaders who lack social media deftness, however, social-sourcing still provided 28% of company hires in 2014, Oracle reveals.
As the adoption of mobile-enabled recruiting is expected to double in the next 12 months to 31% and cloud-based software-as-a-service (SaaS) HCM system adoption growing to 58% over the next 12 months, the Oracle info graphic advises three steps on how to build a foundation in adopting the modern HR as a human resource strategy. The first step suggests rethinking talent management and focusing on the end user, while the second encourages leveraging the use of mobile technology by incorporating it in the human resource systems.
Finally, due to the fact that the average length of time for cloud human resource management systems to be implemented is only nine months compared to the 15.3 months for a licensed on-premise HRMS, the third step which the Oracle info graphic suggests is to simply accept the reality behind the effectiveness and efficiency of the cloud technology.
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