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How HR Technology Helps Small Businesses During a Crisis
Businesses of all sizes have been forced to change the structure of their workforces to survive. While some have found opportunities within the chaos, others have struggled to stay afloat. Small businesses, especially, had to adapt quickly to navigate the COVID-19 pandemic, and technology played a critical role.
We partnered with GetApp, an online resource for businesses looking for software as a service (SaaS) products, to better understand how small businesses are adopting software and the types of technology they’re using. In this blog, we’re going to take a look at how HR technology helps small businesses during a crisis.
1. Small business employees are feeling neglected and anxious due to a lack of communication from management.
2. Technology will be the key to SMB’s survival in the coming months.
The Role of Technology in an SMB Crisis Plan
Research shows that 36% of SMBs are adopting technology at a faster rate, and half of those surveyed are planning to increase software spend in response to the changing climate.
With 59% of SMBs agreeing they need new software will help them stay afloat, investing in technology is now considered part of a company’s crisis plan. While many organizations implemented cost-cutting measures like hiring freezes and travel bans, it’s clear that spending those funds on technology like payroll and HR solutions is a necessity.
Using Payroll and HR Technology to Communicate With Employees
The top tool that most companies adopted during the crisis was web conferencing software, followed by instant messaging technology. Yet, 1 in 5 employees felt their employers neglected to communicate the true impact of COVID-19. So if companies were investing in communication technology but employees felt neglected, what happened?
Managers can publish important information about updated company policies, return to work plans, and schedule changes. This ensures clear and accurate communication with employees so they know what to expect moving forward.
Senior Analyst, GetApp
To ensure employees are supported during this period of uncertainty, SMBs need software solutions that foster clear communication and deliver accurate information.
Payroll and HR technology also provides employees with access to information like:
- Pay stubs and tax documents
- Benefits information
- Time cards and sick pay leave
Invest In Your Future
Investing in HR technology now can help your small business prepare for a future crisis and set you up for success. The workplace dynamic has shifted and it’s important to have tools in place to help your business adjust to both temporary and permanent changes. Payroll and HR software can be a short-term solution that benefits your long-term business strategy.
GetApp is the premier online resource for businesses exploring software as a service (SaaS) products. Buyers easily compare software products side-by-side with GetApp’s free interactive tools and detailed product data. GetApp features research, insights, trends, and validated user reviews, giving buyers the tools they need to make informed decisions for their organization. GetApp is a Gartner company. For more information, visit www.getapp.com.
Methodology & Disclaimer:
The digital transformation survey referenced in this article was conducted by GetApp in April 2020 among 503 respondents who reported executive leadership roles at small businesses with 250 or fewer employees.
The software buyer survey referenced in this article was conducted by GetApp from March 25 to April 5, 2020 and included more than 5,500 respondents. The respondents were website visitors on getapp.com, and the number of respondents varied by question.
This document, while intended to inform our clients about the impact of the novel coronavirus on small businesses, is in no way intended to provide legal advice or to endorse a specific course of action.
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