Investment in HR technology remains steady and strong, reports Survey

According to an annual survey by global professional services company Towers Watson, it was found out that  about a third of the Asia Pacific-based national and multinational companies anticipate significant changes in their human resources departments in the next couple of years, as they seek greater efficiencies and to improve the processes within the function.
 
The survey revealed that companies are considering new HR technologies, will continue to invest in HR technology such as mobile applications, and plan to review their HR processes. However, at the same time, 49% of the Asia Pacific companies currently lack a formal written HR strategy to lay out the role of the function within the business.
 
For the Asia-Pacific region, the survey shows that HR technology spending remains steady and strong despite cost reductions in other areas of HR.
 
We are seeing elsewhere in the world that companies are carefully examining both their HR structures and the way HR services are being delivered, and Asia is no different: there is a need to review, refine and enhance for the function. What is really interesting is the continued trend toward replacing core HR systems, and a willingness to invest in new technology and partners with a growing shift toward Software-as-a-Service, said Robert Zampetti, Director of Towers Watson’s Asia-Pacific HR Service Delivery Practice.
 
More than half of organizations (53%) indicated their investment in HR technology this year will match last year’s investment levels, while more than a quarter (27%) will either increase or significantly increase their HR technology investments.