- A study by Information Services Group (ISG), a global technology research and advisory firm, predicts that more than half of all enterprises will move all or some of their HR systems to the cloud by 2020.
- ISG Insights 2017 Trends in HR Technology and Service Delivery report shows that HR systems have partially moved to the cloud, with companies currently relying on a hybrid of on-premises and SaaS platforms. By 2020, 32% of companies expect to be fully cloud-based.
- When selecting a cloud-based HR/HCM system, ISG recommends that companies consider its ease of use, data security, price and functionality. ISG says that rather than update old HR systems, companies are looking to replace them with SaaS systems.
Moving to the cloud provides companies with increased flexibility and scalability that fits organizations of all sizes. Those that don’t adopt SaaS-based systems will fall behind in their capability to attract, engage and retain talent needed to compete in a quickly changing marketplace. Employers must keep up with all technological advances and adopt the systems and platforms they need to be leaders in their industries.
Cloud-based platforms are becoming invaluable HR tools for training, performance management and other key HR functions.