With the economy in a turmoil, buyers of HCM software are going to have to determine which applications are going to help their organizations do more with less. Surveys show that the trend will be away from purchasing new transaction-focused solutions, and toward solutions that can add to the return on investment from already-deployed systems.  Further, HR is going to be challenged with streamlining costs without reducing HR’s ability to provide quality service to employees while still functioning in a business partner role. 

We’re already seeing this at Enwisen.  Customers are coming to us for the knowledgebase and decision support tools that can put content in context to ESS/MSS/eBenefits transactions – reducing calls to HR and putting the “self” back in self-service to achieve original cost-saving goals.  As employers’ stock prices are going lower and lower – as well as the overall market’s impact on employee 401(k) and other savings plans, employers are looking toward online Total Rewards Statements to help employees understand all of the other noncash compensation they are getting from their employer – the value of employer healthcare premiums and tax contributions, for example. We’re also seeing a steady upward trend in employee portal and shared services/help desk projects – again allowing employees to: first, get the information they need on their own, and second, to staff HR help desks or service centers with fewer staff who are able to provide faster, more accurate answers at increased call volumes. 

What strategies are you deploying to leverage technology in times of economic uncertainty?  Let’s start the dialogue.

I also hope to see many of you next week at HR Tech – come by and see us at booth 528.  I especially hope you can attend our Friday morning (at 9 a.m.) HR Tech session with Nate Douty, Hershey Entertainment & Resorts’ VP of HR.  This is a story about “employee portal done right”– where both strategic and cost savings goals are achieved.