Core HR has become essential for building a comprehensive HR strategy in several countries
Today’s international Core HR is a solution designed to harmonize HR practices while meeting the specific needs of each country. Companies, both large and small, are growing internationally and international Core HR thus plays a strategic role in developing an efficient HR policy and enabling expansion into new countries. Core HR is, however, also designed for companies operating in their own countries, and that have to deal with complex situations.
Handling the complexity of talent management
Managing talent, both internationally and locally, is a key issue for companies today. This is why analyzing data in real time is so important for companies to be able to make decisions quickly. In an international context, specific local needs make it difficult to collect and consolidate data structured and unified at a global level.
The aim is therefore to reduce the time required between collecting reliable, structured and harmonized data, analyzing this data and setting up efficient HR policies to better handle human capital and create value for the company. This is the ‘real-time economy’, which – by digitizing and analyzing the data flows (hires, departures, absences, promotions, acquisition of skills, etc.) – enables you to control headcount and costs and even anticipate, assess and prioritize risks through risk management predictive analysis.
A tool for conquering new markets and integrating new companies
Local and international companies are all eager to acquire new markets and to accomplish this need to count on local and international talent, since human capital is the key to success for growth, particularly international growth.
Employee payroll can be handled by different providers, but only a unified and integrated platform such as Core HR can consolidate certain data and provide HR departments with a global strategic vision to manage their administrative, payroll and skills management policies. Core HR also allows you to determine what is the best organization to set up, how to attract talent or offer career opportunities and successfully integrate employees into new companies.
Helping to build a multi-cultural identity
Building a common transnational identity is an important challenge, because it requires the involvement of all the countries and implies that each country understands the practices of the other countries.
After the harmonization of HR practices in compliance with local requirements, Core HR, associated with digital work spaces, is a basic component of change management because it can be used to share information and send important messages. It is a guide for HR departments, managers and employees.
A boost for productivity and cost management
Core HR also allows companies to save money due to an increase in productivity generated by sharing skills, processes and information as well as tools. Processes can be deployed and shared, but only after analyzing the needs and data of each country and defining what can be generic and common to the company’s HR strategy. For example, employment contracts are not the same in each country, but you need to agree on a common language based on the same concepts.
International Core HR enables better compliance with international standards such as the European data protection regulation, GDPR. There are equivalents of this regulation in Switzerland and the US, which enable international deployment of associated practices and processes.
Core HR’s configuration and interoperability capabilities take into account all HR applications, to better meet the international companies’ HR needs, but especially existing tools and applications that may differ within the different companies or locations and that do not need to be replaced immediately.
More than ever, the ‘urbanization’ of HR information systems, based on the quality and reliability of HR data used, is a key component for an international company’s strategy. International Core HR ensures this.