High demand for performance management solutions in the market is compelling HR technology companies to build robust enhancements into their performance management products.
Technology companies are investing in developing performance management products with new features and enhancements. Several new concepts such as bell curve analysis are finding their way into performance management technologies. In short, the high demand for performance management solutions in the market is compelling HR technology companies to build robust enhancements into their performance management products. User-interface and ease of use is another area where HR technology companies are focusing their efforts & bringing as many ESS onto cellphones.
Trends indicate the visible shift in the Indian market toward 100% browser -based products or using it as a service from the cloud. Most HR technology products in the Indian market are now web-based and mainly on the .NET technology platform. There are several unique needs of the Indian market for which multi-national companies find it difficult to cater in their products. For example, ESIC hard coding, PF uploads, and Form 24Q regular & revised returns are some features in HR technology and management solutions unique to India. Indian organizations, which are evaluating service providers, need to conduct an in-depth assessment to understand if their products have the capability to cater to the unique needs and requirements of the Indian market. Pricing is a key differentiator between HR technology products built in India and global HR technology products.
Scalability is a key factor that can differentiate one HR technology product from another. Scalability should be measured by the technology’s ability to accommodate growth in number of employees, number of legal entities and locations and varied statutory laws. Indian organizations are increasingly looking for an all-round “hire-to-retire” solution. A hire-to-retire solution gives an organization the comfort that the implications of any change in one process can be administered and managed easily across other processes. As the operating environment of HR goes on increasing in complexity, the ability to solution to simplify multiple dimensions of a process is greatly in demand. For example, a key demand from the Indian market is the seamless data migration of leave, investment, claim, and attendance data when an employee is moved from 1 legal entity to another group company.
Organizations have diverse rules and processes to manage their HR processes and the ability to customize is a key factor in HR technology design in India. In addition, with greater affordability of internet access and increasing usage of smartphones, companies are also demanding employee self-service (ESS) capabilities, which users can access via their smartphones. Lastly, time and quality are of foremost importance among Indian HR organizations. A service provider that can make a technology implementation process as less time-intensive and effortless as possible will be in a better position to meet the demands of the Indian consumer. While there are several factors that will drive the HR technology industry in India, some key themes that will drive demand and supply are – customizability, comprehensibility and timeliness.