I am back with yet another edition of Talent Tech Talk- Blog. From covering the dynamics of billion-dollar HR deals, to latest trends & events in HR Tech to the science of assessment & talent management, we have come a long way in this series.
From where we left in the previous blog, talking about talent, the way the workforce works or prefers to work has seen a massive shift.
With the ubiquitous and easy to use day-to-day experience on websites and apps like Facebook, Amazon, Google outside work, employees today have started expecting similar or better experience in their work life too. While its easy to filter products on e-commerce websites, same cannot be said about accessing employee data using traditional technologies.
Companies lose an average of 5% of revenue annually due to payroll process inefficiencies, errors and fraud. Out of this 5%, 99% of the errors are due to poor employee workforce administration.
Despite being an important aspect of a company’s payroll, workforce administration does not get the kind of attention it should.