The “2014 HR Service Delivery and Technology Survey,” a Towers Watson poll of HR and HRIT executives at 1,048 companies from 45 countries, finds that 33 percent of employers plan to spend more on HR technology in the coming year, with 23 percent in that group planning to increase spending by as much as 20 percent and the remaining 10 percent planning to increase HR technology investment by more than 20 percent.
“Despite cost cutting in some areas of HR, we are seeing a substantial spike in technology spending,” Mike DiClaudio, global leader of Towers Watson’s HR Service Delivery practice, says. “It also appears that companies are splitting their investments between core HR systems such as talent management and payroll, and next-generation technology including HR data and analytics, and integrated talent management systems.”
The research also notes that 40 percent of companies are only considering SaaS-based solutions for their new HRMS, with better functionality as their No.1 expected benefit.
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