Businesses Surviving the Covid-19 Pandemic
The coronavirus pandemic has been a real test for organisations around the world, with business resilience and innovation put to the test. Many enterprises did not see the catastrophe coming and were hit hard by the unexpected event, leading business leaders to question whether they are ready for the ‘next crisis’.
Businesses have accelerated the adoption of technology to ensure the survival of their operations. According to a survey by Human Resource Executive, 83% of surveyed respondents say their organisation had become more digitally focused during Covid-19 and 80% believe that their company would continue accelerating their digital transformation post-Covid.
The availability of remote working, video conferencing, and instant messaging has allowed many companies to operate as normal even outside the usual office working conditions. However, if businesses do not continue adopting new solutions to streamline operations and evolve with the latest technologies the next upcoming crisis could bring down their business.
HR Technology Has Become Crucial to Business Resilience!
Technology has made incredible advancements and we are expecting the business world to adopt more tech solutions to improve business operations. The HR department is an area that is in the midst of a digital transformation as many organisations have said it’s been key in their successful response to the pandemic.
In an interview done by the HR Daily Advisor, the founder of upstartHR, Ben Eubanks stated that 97% of companies that said they were ready for the pandemic and were able to adapt quickly, stated that HR tech was a key part to success. Organisations that spent time and effort to improve and work on human resources are the ones that have overcome the pandemic-induced challenges.
Many businesses neglect the digital transformation of their HR and instead favouring more frontend operations like Sales, but Leaders with a long-term vision should find a balance and create better harmony by improving all areas of operations.
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The Benefits of Adopting HR Tech
According to a study by PwC, HR leaders are reporting strong benefits of implementing a cloud-based HR system. In their survey, respondents were asked how effective their HR technology solutions been in delivering the following outcomes:
More and more leaders are recognising the benefits, with 72% already have or are in the process of moving their core HR applications to the cloud, this includes their payroll, employee/people data, benefits, HR documents, etc.
By implementing HR data into the cloud, corporations are improving business efficiency instantly. Cloud-based HR systems create accurate reporting, increases visibility and provides real-time information which is crucial for risk management. In events like the Covid-19 pandemic, decision-makers need instant access to accurate data to identify and mitigate the risks to the business as the situation develops.
To become more resilient to future crises, businesses need to rework their HR by implementing technology that can provide real-time information that will allow leaders to act with speed and conviction, and transforming their HR will be an important area of this.
Finding an All-in-One HR Solution
The ultimate aim for businesses is to find tech solutions to streamline their HR operations into one centralised system. Finding tech solutions that can work together and integrate all areas of your HR seamlessly will help create a standardised set of data, crucial for reporting and data needs.
Asia businesses that are looking to improve business resilience must select a system that is designed for them. Links One is a cloud-based HR solution that consolidates and integrates multi-country payroll management and reporting needs. With data all centralised into a single dashboard, you will be able to easily report, compare, and evaluate data to make better risk management decisions.
All countries having different rules and protocols, selecting a vendor that has strong experience in your service location is essential. Links’ in-country presence around Asia and Links One’s diverse language support, makes it the perfect system for any business in the region looking to streamline their HR. To learn more about Links One, watch the video below or contact us now to book your free demo!
Links One – One Solution for All Your HR & Payroll Needs
- What Is HRIS & Its Benefits?
- The 5 Benefits of Running Cloud-Based Payroll in Asia
- What You Need to Know About Data Privacy in Asia Payroll
- How To Process Asia Payroll With SuccessFactors
- How to Write an Effective Payroll RFP + Template
Links International is an industry leader in innovative HR outsourcing with services such as payroll outsourcing, visa application, PEO/EOR Secondment, outplacement, recruitment and more! Contact us for more information on how we can help leverage your HR function.