The core of any organization are its Human Resource (HR). People management or Human Resource Management (HRM) is by far the most important task of any organization as it involves managing its core assets. HRM involves attracting, recruiting, nurturing and retaining employees.
HRM is getting challenging day by day, and to mitigate the growing management problems HR managers and professionals are increasingly turning towards technology.
HR technology tools help manage multiple operations, including applicant tracking, recruiting, payroll and benefits, learning and development, talent management, and more. Managing these areas efficiently translates to many benefits for the organization, such as bolstering business operations and enhancing the experiences of employees to make them more committed and engaged.
Every aspect of HR, from attracting, hiring, and training candidates to retaining top talents, is impacted by technology
Unique approach to talent management, enhancing processes, bolstering people’s capabilities can be made possible due to the advent of technology.
HR tech has grown in the last part of this decade and is expected to grow further in the new decade. As talent pools grow, tapping the right talent for your organisation and driving up productivity becomes key to success for any organisation.
Through this article we narrow down few of the key technology trends that are transforming the way in which human resources are managed worldwide.
Tech Trends for Human Resources in 2020 and beyond.
To effectively ramp up Efficiency, Effectiveness, and Employee Experience, organizations are turning to technology to effectively manage talent.
1) Social Media
Worldwide, social media is one tool that is used to connect, and send or receive information. The abundance of data on social media platforms will enable HR managers to identify profile and create a repository of candidate profiles that may help the organization in the long run. Around a quarter of employers use social media like Facebook and LinkedIn to recruit staff. HR departments use social media not only for recruitment but also for employee engagement. It is considered as a prime source for companies to reach their HR goals.
Organizations can use social media channels to reach the target audience with job postings and other company-related information.
2) AI and amp; PROCESS AUTOMATION
Process Automation is set to become the next big thing in HR operations. Using AI and machine learning will simplify large-scale and repetitive tasks like pay-roll, attendance regulation, and ensure accuracy in the payment process.
Technology is useful in identification of the latest trends in employee behaviour and help plan activities that can reduce attrition and increase employee engagement.
Chat Bots are often seen as the first point of contact between an individual and an organization. Chatbots can effectively resolve queries that are first-level or repetitive. As the first level employee query desk, chatbots will be able to solve 30 to 40 percent of employee queries leveraging technologies such as AI, and machine learning.
Documentation is iterated process which can be changed. This can be made easier by deploying technology like Optimal Character Recognition (OCR) software. OCR is the technology used to convert image-based files into editable text. Image-based files refer to documents that have been scanned from textbooks, magazines or any text-based sources, usually saved in PDF format. OCR can extract text from these images and make it editable.
In today’s connected world, data is a very valuable commodity. Collecting precise information can make or break an organization’s success prospects. Accurate data can create innovative, agile and productive organizations. Big Data is a trend HR professionals use to understand their customers, market to target audience group, and communicate with prospective employees. Big Data in conjunction with other technologies can help HR managers to gain deep insight and make informed decisions.
Big Data gives HR managers a fact-based view of the current workforce and helps them to identify emerging trends. Moreover, analytics helps recruiters assess potential employees and let you make better risk management decisions.
In 2020, analytics will move beyond reporting and dashboards to predictive and prescriptive domains. HR business partners will be able to advise business leaders using attrition predictors. Technology that helps identify employees worthy of rewards and recognition and provide inputs on employee engagement and attrition are expected to rule the markets.
4) Mobility and amp; BYOT
Innovation that eases pressure on employees are always preferred. The same goes for HR professionals too. In this age where information is accessible from anywhere and everywhere, companies prefer to give flexibility to employees to work from remote locations without affecting productivity.
For this, the Bring Your Own Technology (BYOT) trend has caught up among many organizations. The tremendous advantage this trend brings to businesses is widely known. Among these are savings on the part of the company as they don’t need to provide employees with the hardware for work, and convenience on the side of employees. It has been found out that employees are better able to balance their personal and professional lives when they use their own devices for completing work tasks.
Organizations are jumping the BYOT bandwagon looking to reap the benefits it delivers. The cost-effectiveness of BYOT is poised to keep this trend thriving in the coming years.
Technology is poised to disrupt HR and redefine the future of the human resource department. As HR professionals continue to adopt the change, organizations will become smarter.HR managers must leverage technology to drive real value to the business. Digital technologies facilitate greater integration and flexibility, thus, allowing employees to have a great voice and share their work experience. In this digital age, HR professionals are playing a pivotal, and almost a key leadership role in business execution.
To know more about tech trends in HR, you can download our latest whitepapers on Human Resource.