Large companies aren’t the only ones that need reliable and accurate employee data. Small and mid-market organizations have quickly realized the value HR data has to the entire organization. From identifying attendance and performance trends and patterns to facilitating regulatory compliance, accurate and easily accessible employee data is rapidly becoming a necessity for companies of all sizes.
HR professionals in mid-market companies, especially those who desire a more strategic role within the organization, understand the business value of reliable data. Yet, their access to it lags behind. This is because, until recently, the cost to improve data integrity has been out of reach for all but the largest enterprises.
Typically, mid-market companies that have sought to streamline and automate their HR functions have put themselves in an unfortunate situation. As their needs have grown and matured over time, they have added point solutions to handle:
- Talent acquisition
- Employee benefits
- Performance tracking
- Compliance and more
Disparate systems they deployed over time—often the best in breed—create isolated silos of data. Any time saved through the use of a specialized point solution is quickly lost when the data in that system needs to be shared, analyzed or reported. Too frequently, HR professionals must turn to Microsoft Excel as a means of fixing the problem created by multiple point solutions.
Not only is the integrity of the data compromised by the constant exporting and importing, the process is also extremely time consuming. With so much computing power available to them, it’s unfortunate that HR professionals must rely on Excel, one of the least efficient tools for the job.