Global companies with employees in different countries have to find effective ways of managing their workforce. To achieve the common goals of the organization, all employees must work together as a single team. While managing a global workforce is no small task, putting everyone on a single cloud platform makes work easier. Through features such as Global Payroll Management, Benefit and Compensation, and Tax audits, most HCM cloud solutions will remarkably transform businesses. Below are some of the benefits you can expect.
Effective management of employees
A good number of companies face serious challenges when it comes to managing a global workforce. Cloud applications help executives take a global view of their workforce and access important information regarding employees. By combining HR systems, it becomes easier to develop top talent and create a strong team that will deliver on the desired business objectives. The good news is that some modern applications have mobile capabilities, advanced business intelligence, and can adapt to the changing needs as the business grows.
Streamlined HR processes
During a global HR transformation, the current processes are standardized before they are made part of the cloud based solution. Since most HR operations will have been running independently, the process takes into account the unique work cultures and the environment in each geographical region. This helps to ensure that all employees around the world are comfortable with the new solution. Activities such as processing new hires, adjusting salaries, and approving HR changes will become more streamlined.
Before implementing cloud applications, companies should define common work structures throughout their organization. Once standardization has been achieved, companies using Oracle HCM will have clear career tracks, better succession planning, and improved talent management processes. This makes it easier to shift employees to areas with a gap in talent while ensuring a fair compensation package. Most all cloud platforms are flexible enough to accommodate different workforce practices and local laws that apply to any number of countries.
Access to data
Today, access to reliable data plays an important role in running your organization. By using cloud applications, companies can compile workforce data quickly and easily, allowing executives to utilize information pertaining to turnover trends, cost of employees, and bonus programs. More data on a global scale helps organizations in a compliant and strategic way to maximize returns. Compared to separate HR systems, putting everyone on a single platform leads to increased monetary savings.
The changes associated with cloud applications will contribute to employee satisfaction and retention. Companies will also enjoy lower costs, improved productivity, and time savings.
Bring Your Organization Together with Oracle HCM
In addition to the best HCM cloud solutions, you should have reliable BI support to help you develop top talent that will contribute to the growth of your business. With the scope of work that comes with managing a global workforce, HCM reports will drive employee engagement and improve business performance. If you are looking to help your business grow by implementing these strategies, contact DataTerrain today.