We all know it’s expensive to replace an employee. A recent SHRM report stated that hiring, onboarding and training a new employee comes to about 50%-60% of the departing employee’s salary. But, when it comes to overall losses—such as lost relationships, institutional knowledge and specialized expertise—the costs actually could range from 90%-200% of the employee’s salary

It’s long been HR’s job to help retain valuable talent across the workforce and minimize replacement costs. But now, some HR organizations are dealing with their own retention issues in a critical area: HRIT. Our most recent report, The Business of HR in 2023, showed a 33% drop in HR professionals with five to 10 years of HRIT experience.

The timing of this exodus is unfortunate for many reasons. First, the HR tech ecosystem is becoming only more complex. It’s no longer enough to know the ins and outs of your company’s HRMS (although that alone is highly valuable expertise given that the average age of an HRMS is now about seven years). Even in predominantly cloud-based environments, these centralized HR systems have numerous workflows and complex configurations, as well as many integrations.

Secondly, as the HR tech ecosystem has expanded with innovative systems offering new functionalities, HRIT professionals must have expertise in areas such as data privacy, content governance, reporting and analytics, security and AI—plus familiarity with the ever-evolving tech market. Our survey showed that, on average, companies are managing nine to 11 major HR applications and upwards of 30 HR system integrations.

Finally, technology now touches the work lives of all employees, and that means HR must be involved in the associated employee experiences, governance and job impact. Even when workforce productivity applications such as Teams and Viva, Salesforce and Slack are owned by IT or other functions, HRIT professionals must have a hand in the rollout, training and ongoing data management. The same is true for payroll, customer service and scheduling applications.

I’d like to offer up some advice on what to do to minimize the effect of HRIT talent losses and help new employees get up to speed as quickly as possible.

For Full Article: Click Here