White Paper Summary:
Integrating People, Process, Technology, and Strategy: The Future of Human Capital Management
By: Larry Dunivan, Senior Vice President,Global HCM Products, Lawson
Reductions in force. Hiring freezes. Budget reductions. The economic downturn means that the “war for talent” is on hold, and that the focus of HR initiatives has shifted from recruiting new employees to employee performance and development. To keeping the staff you have today and increasing their effectiveness and productivity.
To better manage their talent and remain competitive in this kind of environment, organizations are using new solutions to maximize the impact of their employees. They are looking for better ways to tie their workforces to organizational goals and strategies.
While multiple-vendor, best-of-breed talent management modules can help with a specific HR function, they are hard to integrate with each other and existing HRMS systems. As a result, they are limited in their ability to add real strategic value and often fail to address the most important talent-related questions HR leaders say they need answered.
So where should the market go? If efficiency and automation have been the name of the game up to this point, how do organizations get to the next level? How can they tap into their workforce to achieve specific business outcomes? The answer – and the future of HCM – lies in the three closely related areas discussed here: Talent management integration, spaces, and information delivery.