Human resources managers need to understand the benefits of using SaaS for data-driven HR decision-making. <\/p>\n\n\n\n
Human resources (HR) decision-making has come a long way since the days of manual processes, filing cabinets, and \u201cgut feelings\u201d about candidates. With the rise of Software as a Service (SaaS) products, HR operations can now rely on data-driven facts<\/a> and deep insights in decision-making. <\/p>\n\n\n\n Forward-thinking HR leaders are prioritizing SaaS tools as part of their core functions. Read on for a guide to using SaaS in HR and leveraging data for a competitive edge. <\/p>\n\n\n\n SaaS products include any cloud-based software available online. With SaaS, there\u2019s no need to download software locally, as programs are accessible from any device with an internet connection. Many SaaS products<\/a> are available in both desktop and mobile versions, making it easy for teams to access files, messages, data, and other information from anywhere. <\/p>\n\n\n\n These products are typically cost-effective, with lower upfront prices than traditional software products. Additionally, because SaaS products are maintained by the provider, they\u2019re regularly updated for optimal security<\/a> and functionality. <\/p>\n\n\n\n Any discussion of SaaS in HR raises questions about organizational change. Replacing traditional HR methods with modern, data-driven strategies<\/a> doesn\u2019t happen overnight. Rather, it requires gradually gaining buy-in at all levels of the organization \u2014 from new recruits to C-suite executives. <\/p>\n\n\n\n Although change can be unsettling, leaning on data and technology amid organizational shifts can make the transitions easier and should be part of every business playbook<\/a>. <\/p>\n\n\n\n According to Deloitte, high-performing organizations are 3.5 times more likely<\/a> to use data to support workers during organizational transformations. To stay competitive, it\u2019s to your advantage to use SaaS for various data-driven HR functions \u2014\u202ffrom recruitment<\/a> and hiring<\/a> to performance management<\/a> and employee engagement<\/a>. <\/p>\n\n\n\n As Manatel notes, recruitment marketing automation<\/a> uses SaaS platforms and data to streamline talent acquisition and hiring processes. Automated job postings, resume screenings<\/a>, appointment scheduling, and follow-ups improve the candidate experience while streamlining the hiring process. SaaS solutions can help identify the best candidates and speed up onboarding, helping new hires get up and running quickly. <\/p>\n\n\n\n With SaaS platforms, organizations can track employees\u2019 performance and productivity. With data centralized in a single platform, managers have more transparency into project finances<\/a>, productivity metrics, task progress, and project analytics. <\/p>\n\n\n\n Using this data, managers can help workers set measurable goals and monitor progress. In turn, they can make informed decisions about training needs, promotion opportunities, and workforce planning. Meanwhile, employees can track their time, stay on track with timelines, and identify areas for improvement. <\/p>\n\n\n\n In an increasingly digital world with distributed teams, employee engagement is more important than ever. Gallup reports<\/a> that disengaged employees cost their employers approximately $1.9 trillion in lost productivity. <\/p>\n\n\n\n SaaS platforms keep employers and employees connected, facilitating open dialogue and encouraging employee engagement and retention. Innovative solutions such as gamification tools<\/a> augment employee experiences, from initial onboarding to collaboration with team members and participation in wellness initiatives. <\/p>\n\n\n\n Engaged employees also contribute to customer success, as productive, satisfied employees are more likely to go above and beyond to exceed customer expectations. <\/p>\n\n\n\n With SaaS solutions, conveying important compliance information<\/a> becomes more effortless. You can easily communicate company policies and procedures, industry regulations, and regulatory changes. <\/p>\n\n\n\n Additionally, employees have the means to ask questions, report compliance issues, and engage in a culture of compliant and ethical business practices. By looping in employees and other key stakeholders in compliance communications, you can set consistent company-wide expectations for compliant behavior. HR leaders can also use SaaS solutions to promote workplace safety policies and procedures<\/a>. <\/p>\n\n\n\n Furthermore, with compliance at the forefront, you can reduce legal and financial risks. Consider high-profile instances of non-compliance, and you can see why ensuring compliance is a paramount concern. For example, Forbes reports<\/a> that the U.S. Office of the Comptroller of the Currency (OCC) slapped Morgan Stanley with a $60 million penalty due to data privacy risks. Later, the Securities and Exchange Commission tacked on a $35 million fine for data security lapses. <\/p>\n\n\n\n Getting Started with Using SaaS for Data-Driven Decision-Making <\/p>\n\n\n\n As you evaluate various SaaS solutions, seek answers to a few key questions to help guide your choice of platform: <\/p>\n\n\n\n Answering these questions will help you narrow down your choices to a SaaS solution that will best meet your current and future needs and improve HR decision-making. <\/p>\n\n\n\nWhat Is SaaS in HR? <\/h2>\n\n\n\n
How SaaS Solutions Support HR Functions <\/h2>\n\n\n\n
Recruitment and Hiring <\/h2>\n\n\n\n
Performance Management <\/h2>\n\n\n\n
Employee Engagement and Retention <\/h2>\n\n\n\n
Compliance Communication and Risk Mitigation <\/h2>\n\n\n\n
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Case Study: SaaS in HR <\/h2>\n\n\n\n