You are here: Home » PTI Stories » National » News
Business Standard

HR tech adoption results in time, cost, productivity gains for organisations: Report

Topics
Business Finance

Press Trust of India  |  New Delhi 

The automation of routine processes and efficient data management through technology results in up to 65 per cent gains in time and cost for the HR administration function, a TeamLease report said Tuesday.

According to the report, human resource (HR) technology adoption also results in better control and systematic record keeping with payroll and compliance tech yielding up to 80 per cent in cost savings.

"Artificial intelligence and machine learning based tools have enabled faster hiring and improved talent retention to deliver up to 85 per cent time, cost and productivity gains for organisations," TeamLease services Co-founder and EVP Rituparna Chakraborty said.

According to the report, tech adoption in core HR (administration, payroll and compliance and HR analytics) is over 75 per cent in 10 out of the 14 sectors surveyed, while, sub function HR Tech adoption is 75 per cent or more in banking, financial services and insurance (BFSI), business process outsourcing (BPO)/information technology enabled services (ITeS), e-commerce and telecommunication sectors.

The report further noted that the current investments by the organisations are growing incrementally and are spread across the HR tech areas, while HR analytics and employee productivity tools will see a near doubling of the investments.

Talent acquisition, retention and on-boarding performance management tools will see steady investment trends from 2018-2021.

Sub-functions consist of talent acquisition, retention and engagement, onboarding, performance management, training and employee productivity (time and attendance).

The survey was conducted among HR managers across 400 employers in 14 prominent sectors and 13 cities of India belonging to large, medium and small businesses.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, November 27 2018. 14:35 IST
RECOMMENDED FOR YOU