Now, Watson Wyatt Rolls Out eHR Strategy To Slash Cost

Kolkata: | Updated: Oct 28 2002, 05:30am hrs
Watson Wyatt, a global consulting firm specialising in human capital and financial management, has rolled out an eHR strategy for Indian companies.

The consulting house feels that eHR offering fits with the IT tools and knowledge it possesses. The eHR strategy is expected to substantially reduce the human resource costs of a company.

Watson Wyatt will work for companies in the area of aligning HR & information technology functions, managing partner/vendor relationships, providing project direction and sharing eHR best practices.

Watson Wyatt managing director Shailesh Shah India said: Our consultants possess in-depth HR systems, knowledge and experience second to none in the industry. We lead our customers to fast-track solutions focused on priority business needs. Our services are scalable and localised for each business unit or geography.

According to the consulting house, a recent research on eHR initiatives suggests that employers are increasingly turning to their human resources technology investments to address cost-containment pressures.

The consulting house feels that during the Internet race, many organisations came to view any technology solution, at any price, as the right solution.

But many organisation lacked a sound return on investment (RoI) analysis while making a decision. The current economic conditions are forcing companies to refocus attention on the need to make a cost-conscious and financially sound business case for their eHR initiatives.

Over the past several years, companies invested in HR systems and Web-based technologies to support growth and help transform HR into a more strategic role in the organisation. Now, employers are under pressure to control HR costs and optimise the investments they have already made in eHR, said Mr Shah.

Watson Wyatt has identified six key considerations in developing a business case for eHRUnderstanding and leveraging the link between eHR and the business strategy, quantifying the current cost of delivering HR services, defining how eHR will change the delivery of HR services, working closely with the companys finance organisation to develop required analysis like net present value, rate of return and payback period, establishing measures/targets to maintain focus and assess progress and educating key decision makers along the way so they are on board when it is time to ask for funding.