HRO Today October 2019 - 10

Upside
NEWS FROM THE WORLD OF WORK
The Road
to Digital
Transformation
The future of talent acquisition is digital, but according
to the new Digital Transformation in Talent Acquisition
study from Aptitude Research and Alexander Mann
Solutions, skill and budget constraints are preventing
businesses from reaping the full rewards of their new
technology.
Companies that successfully embrace digital technologies
in their talent acquisition functions are:
* two times more likely to improve retention;
* three times more likely to improve the candidate
experience;
* two times more likely to improve performance; and
* two times more likely to improve quality of hire.
Despite these benefi ts, one in four surveyed employers
have no plans for digital transformation. While some
areas of the business are quick to embrace digital
transformation, talent acquisition is lagging behind,
with survey results showing that less than 50 percent
of TA leaders understand the value of digital tools. Of
those that do intend to revamp their talent acquisition
strategies, only 32 percent have the resources and only
24 percent have the budget they need to support the
necessary change management.
Companies that are able to successfully adopt the
technology use it in a number of ways, from recruitment
marketing to the onboarding process. But the most
common uses vary by region: Europe tends to use digital
tools earlier on in the recruitment process, while North
America prefers to leverage these tools during the
interview, assessment, and onboarding phases.
To guarantee a positive result, companies that wish
to adopt new technologies should consider two best
practices:
* Start small. Organizations should begin their
transformation journeys by focusing on one or two
initiatives, ensuring that they have the budget and
[10]
HRO TODAY MAGAZINE
| OCTOBER 2019
bandwidth to keep up with improvements, changes based
on user feedback, and alignment with business needs.
* Consider branding. The research reports that only 29
percent of companies believe that brand plays an important
role in digital transformation-but this is a misconception.
HR leaders need to ensure that their digital strategies are
aligned with culture and branding in order to produce the
desired candidate and employee experience.
EmployeeCentric
Benefi ts
A new report from the Harvard Business Bureau says that
employers are facing a healthcare crisis. Healthcare costs are
the second or third largest expense for today's organizations
and they are rising by as much as 20 percent every year.
This means that in 10 years, businesses could be at risk of
doubling their healthcare budgets.
But there is a way to mediate this risk: a user-centric
benefi ts enrollment experience. Current point solutions
and complicated healthcare enrollment processes drive up
costs for both employers and employees while lowering
value. To combat this, 77 percent of organizations consider
the delivery of innovative health benefi ts to be a key factor
in a company's competitiveness-and 57 percent of those
organizations are choosing to increase their healthcare
benefi t offerings.
Survey respondents say that a more robust benefi ts package
helps their organizations remain competitive in a tight
talent marketplace. In fact, nine out of 10 organizations
say that benefi ts plans allow them to demonstrate their
commitment to their employees' needs, and 51 percent say
that benefi ts will continue to gain prominence as a strategic
priority.
But while benefi ts are growing in importance, employees
are still not fully taking advantage of their companies'
benefi t packages:
* Sixty-three percent of respondents say that their
employees don't know how to fully leverage companyprovided
health benefi ts.

HRO Today October 2019

Table of Contents for the Digital Edition of HRO Today October 2019

HRO Today October 2019 - 1
HRO Today October 2019 - 2
HRO Today October 2019 - 3
HRO Today October 2019 - 4
HRO Today October 2019 - 5
HRO Today October 2019 - 6
HRO Today October 2019 - 7
HRO Today October 2019 - 8
HRO Today October 2019 - 9
HRO Today October 2019 - 10
HRO Today October 2019 - 11
HRO Today October 2019 - 12
HRO Today October 2019 - 13
HRO Today October 2019 - 14
HRO Today October 2019 - 15
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HRO Today October 2019 - 17
HRO Today October 2019 - 18
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HRO Today October 2019 - 24
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