For some time now the HR landscape has been undergoing a dramatic transformation – and it’s a compelling one. HR professionals are now spending less than half their time on administrative tasks, a significant decrease from 60% in 2015 (Deloitte). This shift reflects a broader trend: the rise of strategic HR and the need for technology that hastens, not hinders, HR teams.
Leading this revolution are Human Capital Management (HCM) systems, which go beyond traditional time clocks to offer a wealth of tools that enhance HR operations. These aren’t your typical time clocks, although they encompass that function. These are innovative devices that are packed with features that make a significant difference in how HR functions on a daily, weekly, and even yearly basis.
These terminals are no longer just about automating payroll or managing benefits; they’re about enabling HR to become a strategic driver of business success.
Challenges of the Modern HR Professional
HCM solutions provide the tools and technology to address these challenges head-on:
- Automation: By streamlining routine tasks like payroll, benefits, and onboarding, organizations can free up HR’s time for more strategic work. This can lead to significant cost savings and improved ROI, as suggested by statistics shared by software marketplace G2 stating that companies using payroll automation are 33% more effective.
- Centralized Data: Manage all employee data in one central location, improving access, accuracy, and efficiency.
- Real-time Insights: Gain valuable insights into workforce trends, identify skill gaps, and track key performance indicators with powerful analytics.
- Enhanced Communication: Improve communication and collaboration within the workforce through integrated platforms and employee self-service portals.
The Benefits of Technology in HR
Most HR departments will have embraced technology in some capacity or other, but by investing in HCM devices that can further simplify processes while enhancing the employee experience, organizations will find many benefits.
Time clocks with self-service functions put employees in the driver’s seat, allowing them to manage their own time, access information, and even complete training – all at their own convenience. This serves to create a more engaged workforce that has greater control over their work life.
Furthermore, while the terminals offer a fast, accurate and convenient solution to time and attendance tracking, it’s the ability to deter and ultimately eliminate time theft that makes them a valuable addition to an organization. With US employers losing an estimated $373 million to buddy punching (Nucleus Research), it comes as no surprise that there’s a push for technology that can ensure this figure drops.
Biometrics seem to be the solution. It’s thought that 65% of organizations are already using biometrics in the workplace, with a further 24% planning on adopting it. Since fingerprint scanning and facial recognition provides a much faster clocking process – 95% faster, in fact – there’s even more reason to invest. The math is plain to see; faster clocking = better efficiency and productivity.
Perhaps biometrically-enabled time clocks are on the wish-list of those 36% of HR professionals who feel they don’t have access to adequate technology (Northeastern University).
For those with concerns over data privacy, these concerns are certainly valid. There were over 1800 data breaches in 2021 and 2022, and an alarming 3205 in 2023 (Statista). Clearly data security needs to be at the heart of any technology that uses such personal information – which is why GT Clocks developed GTProtect, the cloud based platform that’s built with stringent data security measures in place. Our devices seamlessly connect to the platform, ensuring data is protected at all times.
Is Your Organization Ready To Revolutionize?
The HR revolution is here, and HCM solutions are leading the charge. By embracing these technologies, businesses can create a more efficient, secure, and employee-centric HR function that drives success in today’s dynamic workplace.
We predict a swift uptick in businesses adopting biometric technology, but with that comes a greater need for robust cyber security. If you’d like to read more about how GT Clocks manages this, we delve into it more in this blog post.
If you’re ready to explore GT Clocks’ time clock solutions and discover how they can help your organization thrive in the HR revolution, take a look here.