As I browse through analyst predications for 2008, here is what I think businesses can expect this year and beyond.
· As we witnessed huge volatility in stock market this week, more and more analysts predict continued economic slump. Thoughtful business leaders are preparing for this slump with creative operational strategies to increase operational margins by reducing cost, contingency plans and investments in R&D.
· Globally it is increasingly becoming difficult to find and retain skilled labor. To drive the bottom line, organizations need to attract, retain and motivate skilled labor globally with the innovative talent management and pay for performance strategies.
· To keep costs low and drive operational efficienies managers need to make data driven decisions. This is only possible if the data is captured and right tools are available to translate the data into information and insight needed for effective decision making.
· In addition, the hunt for global talent continue to drive the need for technology infrastructure that promotes collaboration and innovation, and at the same time reduce risk.
Here is how a integrated Talent Management SaaS can help to survive and sparkle in a slump.
1. SaaS solution can translate hefty infrastructure and software license & maintenance cost into a low monthly service fee, relieving your balance sheet for the other R&D investments that are most critical in slump times. Rapid deployment approaches that SaaS vendors mastered helps businesses to implement SaaS solutions in much less time and cost compared to the expensive upgrades to internal ERP systems.
2. Integrated Talent Management with Pay for Performance framework enables managers to attract, retain and motivate talent with internally consistent and externally competitive compensation strategies and high-performance cultures, and Internationalization and Globalization technologies to engage, attract and motivate global talent
3. Integrated controls and security to ensure regulatory compliance
4. Integrated analytics and dashboards to enable data driven decision making and drive incremental improvements
5. Integrated Talent Management with Web 2.0 style productivity tools and collaboration technologies - org chart, address books, Ajax style user interfaces, Workflows & Wikis, enable businesses to further drive the bottom line with the global talent and to sparkle in this economic slump.