Digital technologies are transforming how companies recruit, compensate, motivate, review and train employees. HR departments that master digital will attain a distinct competitive advantage in the hunt for talent. Bain & Company’s new survey of 500 HR executives and managers in the US, UK and Germany finds that 87% of respondents believe digital will fundamentally change HR, but 75% acknowledge that their IT systems and technology have not achieved optimal performance or the business outcomes they desire. That gap may be closing, however, as most companies plan increase their IT budgets over next two years.
Michael Heric is a partner with Bain & Company’s Performance Improvement practice, and leads the firm’s support functions capabilities globally. He is based in New York.
Digital technologies have become essential for HR to engage top talent and add value to the business.