Bersin by Deloitte today announced new research that shows that after years of belt-tightening, most (61 percent) HR professionals surveyed indicate that they plan to replace their HR software within the next 18 months. Bersin by Deloitte, a leading research and consulting firm empowering Human Resource (HR) organizations to drive bottom-line impact, included the findings in its new research report, Managing Talent through Technology: HCM Buying Trends in 2013, available now to WhatWorks® members via BersinInsights™, the personalized and integrated member information platform.
The research revealed that:
- Improving the end-user experience is the biggest driver for change. Fifty-three percent of HRIS systems have been deployed for seven years or more, with almost two-thirds (63 percent) of large employers using their HRIS/HRMS for more than seven years.
- Lack of integration with other talent management or HR products and inability to derive analytics are primary considerations in new purchase decisions. Organizations want to understand workforce trends, performance drivers and predictors of future performance. Such business analytics can be achieved through integrated data from across HR and talent applications.
- Many talent areas within corporations are still managed by home-grown or custom applications. Given the need for better integration and new features, much of this software is perceived as outdated and expensive to support.
- Companies want new solution providers and are ready to switch vendors. Only one in four surveyed would consider returning to their current vendor for a new solution.
- Companies have set aside budgets for these products. Forty percent have budgeted more than $500,000 to replace their HRIS system and 40 percent have budgeted more than $750,000 for a talent management suite.