According to new global research launched by SuccessFactors, an SAP Company, organizations are wasting, on average, 17 hours per week producing HR reports; that is almost 900 hours per year. The report revealed that more time is being devoted to delivering reports back to the organization as respondents reported increased demand for workforce metrics (72%) in the last five years.
The survey of 1,300 HR, finance and IT managers found that almost three quarters (72%) of organizations say their employees are increasingly geographically dispersed. Because of this, another 51 percent of organizations globally found connecting multiple data sets and making reports challenging. This lead to a mere 22 percent of respondents considering themselves to be “very effective” when it comes to workforce analytics.
“Having the right people, in the right roles, focused on the right things is increasingly recognized as a competitive advantage for companies of every size. On demand, accurate information on the workforce at all times is also business critical, and required of each company’s board and leadership,” said Shawn Price, president of SuccessFactors, SAP Cloud. “Delays in developing detailed reports on your people will impact HR’s ability to deliver strategic value to the business.”
Other key findings include:
- 51 percent of organizations use different HR systems for different territories, while 47 percent have a different system in each country
- Four out of ten (39%) organizations found management of multiple systems across different networks and geographies challenging
- 81 percent of organizations believe that cloud computing can bring benefits to the HR department
- Almost a third (32%) of organizations believe having a single source of truth is one of the biggest challenges for running and maintaining their core HR system
- More than half of organizations (53%) are fully confident about their HR systems being fully compliant, while another third believe they are, in fact, fully compliant
Download the complete report here.