Article by Annabella Poon
on 6 Jul 2015
If you know the daily grind of the HR function, you will understand HR’s worst nightmare –good old spreadsheets.
As an organisation collects more and more information, data grows in volume and variety, turning seemingly innocent excel sheets into supersized spreadsheet monsters. Thanks to Tech of the 21st century, today’s HR function have to grapple with swathes of employee data ranging from demographics, payroll, attendance, leave management, training all through to leadership and performance. As an organisation grows, the amount of paperwork and demand for report also increases for HR. Do you feel like you’re being trapped in excel hell?
If you‘re still depending on spreadsheets to inform workforce decisions, here are 5 reasons why you need to seriously consider saying goodbye to spreadsheets.
1. Spreadsheet mistakes are common
Spreadsheets are notorious for being prone to human errors and here’s proof…
In 2008, Barclays sent an offer to purchase another firm that hid, instead of deleting, nearly 200 cells resulting in significant losses. In 2013, JPMorgan Chase lost more than $6 billion allegedly due to copying and pasting incorrect information. Whoops
2. Spreadsheet sucks too much of your time
When it comes to tracking employee-related information like salary, competencies and training, you spend a lot of time hunting and updating data. Just think about when you have to provide routine reports to the management, you devote a large portion of your day wrangling data to give your boss what he or she wants to see.
And…when it comes to ad-hoc requests, your day is interrupted by answering queries and making changes to records- when will you finally get to get on with actual your tasks for the day?
3. Spreadsheet gives only a linear, fragmented view
Reporting across various dimensions and granularity like time period is a painstakingly onerous process for reporting teams. Spreadsheets were not meant to cope with the multi-dimensionality and complexity of people-related data.
This means that business leaders are depending on a fragmented view of the organisation, potentially missing out on crucial connection buried within the wealth of data stored in their systems.
4. Spreadsheet are not designed for team work
Workforce planning, reporting, budgeting and forecasting are rarely a one-man project. Workforce decisions requires collaboration from multiple parties from managers, to directors and stakeholders. Attaching spreadsheets in emails and sending it around takes too much time, leaving room for errors and a high chance of someone working on an older document.
5. Spreadsheet are unfit for agile businesses
Agile businesses require instant access to up-to-date information so that business leaders can make the right decisions quickly and accurately. Using spreadsheets as the point of truth for decision making means that all employee information will first have to be aggregated, consolidated and thoroughly checked for errors before it’s ready.
Can your organisations affords to be months behind on reports and making important decisions based on outdated information?
Download the whitepaper eBook for more insights on why it’s time for a breakup with your spreadsheet love affair: Top 5 Reasons for HR to end its Spreadsheet Love Affair