Vendor management is increasingly important as HR assumes more responsibilities as the reporting and administrative arm to the workforce. From recruiting talent to administering benefits to delivering services, HR teams can improve organizational efficiency and employee experience. Transforming HR is often difficult because no single technology vendor or core human resource management system excels in all areas.
The average large company now has more than 11 HR systems of record, in Josh Bersin's article, a Human Resource Executive article, he laments, “CHROs are very confused about what to invest in.”
Managing so many vendor relationships can be challenging as well. HR teams could miss out on savings or get poorer service than they were promised if they don’t keep up with all of the contracts and service-level agreements.
However, you can increase your return on investment in HR technology if you manage your vendors properly. Each department, from Payroll to Talent Management, will perform effectively.
Below are additional HR Strategic Advisory that our Consultants can help you with:
For more information on how Providence can assist you with HR Strategic Advice, you can contact us online by completing the form below. Our team is ready to help your company streamline processes and services to enhance ROI and achieve business goals.