Software Advice, an HR technology review company, recently polled 200 HR professionals to gauge their satisfaction in regards to their current HR software. Through the survey they were able to find the key benefits and challenges of HR technology and the software that HR professionals plan to invest in for 2015.
Some of the key findings were as follows:
- 89% of respondents were either “somewhat” or “very satisfied” with their software.
- 44% of respondents plan to increase their investment in performance review applications in 2015.
- 42% of respondents plan to increase their investment in personnel tracking applications in 2015.
Not Everything is Automated
The majority of buyers (68 percent) reported that they use manual methods, such as spreadsheets, in addition to HR software. I should note that 21 percent of the 200 respondents are working at small businesses (1-50 employees). When looking at the data, Software Advice was able to conclude that companies with over 1000 employees are much more likely to exclusively use HR software.
Projected 2015 HR Application Spending
The top three applications HR professionals plan to invest in for 2015 are:
- Performance reviews
- Personnel tracking
- Applicant sourcing
This means HR professionals either plan to buy this software for the first time, or increase their current investment by upgrading or switching systems.
Primary Benefits of HR Software
92 percent of respondents said their HR software did “well” to “extremely well” when storing/organizing key documents. The next best-performing benefit received from HR software is improved payroll accuracy. 88 percent of respondents said their software delivers “well” or “extremely well” in regards to payroll accuracy. Lastly, reduction in the amount of paperwork is another significant benefit cited by HR software users.
Primary Challenge of HR Software
17 percent of respondents reported a challenge in trying to customize their system to fit the specific needs of their business. In an earlier study, Software Advice found that many software buyers buy stand-alone products meaning they have to integrate each product they buy. This has been a large challenge for software users with 15 percent of end users responding that multiple software system integrations is “extremely” or “somewhat challenging”.
To sum it up, respondents were mostly satisfied with their HR software and believe it was worth the investment. Also, most users plan to either maintain or increase their current level of spending on software. Lastly, those looking to customize their HR software should make sure to speak with the software provider about their specific needs during the demo or trial phase of software selection.
If you would like to read more about HR software and the findings of Software Advice, you can do so here.