SEPTEMBER 2019HR TECH OUTLOOK8In MyOpinionClock radio soundsscratch thatthe iPhone alarm sounds. Time to wake. Walk to the front door to retrieve the paper--I mean grab your phone to log in to social media to see what happened in the world. Pour yourself a coffee, I mean click on your app so you can order one from the Starbucks on your way to the office--I mean the shared space where you'll decide to work for the day. Say hello to everyone as you walk in--I mean log into your IM and mark yourself as "in."Quickly run down the hall to the conference room for a long day of meetings--I mean log in to Webex or join me. Finally, after a long day drive homeI mean a short bike rideyou go to the mailbox for your weekly trip (no need to go more often; nothing important comes on paper anymore) to find a large packet from your employer.It's Open Enrollment Time, I mean... No, that's exactly what I mean, unfortunately.Advances in technology have impacted the way we live and work, in all areas except employee benefits and human resources...until now.Traditionally an industry laggard from a technology adoption perspective, employee benefits and human resources technology are now on the fast track. U.S. companies invested $2 billion into HR technologies in 2016 alone, and it's estimated to be a $20 billion industry by 2020. What's driving the Change?There are many contributing factors that influence why HR and employee benefits are starting to really embrace technology, but here are our top three.· The Cloud Has Decreased the Total Cost of Ownership (TCO). Gone are the days of HRIS systems being only for those with larger budgets. The trend toward digital information that's accessible from anywhere has removed many of the hurdles (staffing, IT infrastructure, etc.) that previously contributed to making HRIS systems unaffordable ARE FINALLY EMBRACING TECHNOLOGY--AND THREE FACTORS STILL STANDING IN THE WAYMark Rieder, SVP of HR Technologies and Benefits Administration, NFPByMark RiederREASONS HR AND EMPLOYEE BENEFITS
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