Human resource (HR) management revolves around people; there is no doubt about that. But in the modern era embodied by the technological revolution and transformative development, the tenets of HR are finding a new footing. Technology is trailblazing unique approaches to employee lifecycle management, enhancing people’s processes and workforce capabilities. Today, every aspect of HR, from attracting, hiring, and training candidates to retaining top talents, is impacted by the tools of technology. Because of this, keeping up to date with the key motions in the HR tech sector is crucial to forward-thinking businesses.
In this article, we’ve narrowed down the key tech trends that are transforming the way HR is being run. We’ll discuss how the HR tech trends influence your business in general and the workforce management in particular. Most importantly, we’ll reveal a list of leading HR software solutions you could use to spur increased productivity, accurate remuneration, and overall business growth.
Technology has completely redefined the role of human resources worldwide, from being an administrative unit in the organization to its increasing role as a strategic partner in growing the business. A 2018 US survey showed that 77% of HR leaders use data analysis to better understand how to communicate with employees, while 79% use automated HR solutions to help them take a more strategic role in their organization. Since HR is tasked to ensure that employees succeed and contribute, it can support the overall strategic plan and objectives of an organization. You can see from the visual below how HR has functionally evolved.
The best HR technology tools help manage multiple operations, including recruiting, payroll and benefits, applicant tracking, learning and development, talent management, and more. Being able to manage 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.
Let’s go through some of the trends that are shaping up HR.
Ensuring compliance and avoiding risk are the two key underlying aspects of every function and task. However, technology has transformed the monotony through HR platforms that digitize the information human resource needs. One such technological trend is Big Data, which is helping HR professionals to understand their customers, market to target audience group, and communicate with prospective customers. When integrated with other technologies, Big Data helps to gain deep insight and allows HR professionals to make decisions powered by vital information.
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.
The smartphone is likely to dominate the HR landscape. As the workforces across various operations seek access to applications via mobile devices, companies are considering adopting HR systems. Delivering this kind of functionality implies that organizations will consider HR applications with the mobilization process and the interface that employees are looking for. More on, the trend of creating applications that streamlines the basic HR functionality continues to evolve. Today, mobile apps have become essential to every application that a company develops.
Social media plays an active role in HR today, especially when it comes to recruitment. Around a quarter of employers are using social media channels like Facebook and LinkedIn to recruit staff. HR departments can 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. Enterprises can use social media channels to reach the target audience with job postings and other company-related information. Few organizations use social media to tell their organization’s success story through photos, blog posts, Tumblr, and Pinterest pages. And, job seekers are using these social networks to find out about the company. It’s an excellent source to find out what current and potential employees are saying about your company.
Social media offers countless benefits to HR professionals and lets them keep up with the news, technology, and trends. You can nurture relationships by sharing industry knowledge. All these reasons have made it an ideal platform to engage employees, build relationships, and bolster communications in the workspace. More companies will consider integrating applications with LinkedIn or Facebook instead of developing corporate applications in the future.
Be it a web or native application, SaaS apps play a key role in every sector, including HR. Cloud-based applications are inevitable in today’s business environment. Collection and data storage have been so difficult until the evolution of the cloud. With the advent of cloud technologies, all information, such as documents and other pertinent data, can be easily accessed online. Employee information can be archived and organized in a secure location.
However, before deploying cloud-based solutions, it is required to understand whether the technology fits well for your current requirement and if it can add real value to your business. One needs to weigh potential challenges against the benefits to understand whether the cloud can overcome business risks. Also, it is important to consider whether business procedures can migrate with cloud applications. By centralizing the data, the workflow and operations can be streamlined across the enterprise. Implementing cloud solutions can have a positive impact on various streams of operations ranging from product development, workforce management to business integration. This is why most enterprises are switching to cloud-based applications.
Most companies love the innovation that can make their products work smarter. BYOT has become a new trend today, and companies started embracing it due to the advantages it brings to businesses. 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.
Many companies are now allowing the BYOT practice, as security remains a top concern. However, companies are making sure that they have a BYOT program in place and that their policies for protecting confidential data or when an employee device is lost or stolen are followed.
Top companies like Google, Apple, and Microsoft have started introducing wearable technology in all their devices. These wearable devices can make your employees stay connected and improve time management. Wearable technologies provide a wealth of opportunities for employee engagement, including increased productivity, benefit incentives, and security. Wearable devices not only improve communication but also enhance operational efficiencies. And, some businesses are exploring new ways to turn a wearable device into a powerful tool. Any HR department that considers switching to wearable devices should get an idea about what type of information the devices can track and how the compliance works.
BambooHR is a cloud-hosted HR software that helps HR professionals track applicants, onboard new hires, and set up a centralized employee information database. What’s more, it comes with tools that let you manage the entire employee lifecycle as well as create a self-service portal where employees can access their information whenever they need.
Should you want to investigate the platform firsthand, you can easily do so when you sign up for BambooHR free trial here.
Gusto HR is a comprehensive solution renowned for its modern, easy-to-use interface. The platform streamlines all core aspects of HR management, from hiring and onboarding to remuneration, to performance management. What’s more, it can automate payroll calculation and tax filing so you don’t have to waste work hours on these mundane tasks.
An appealing test drive of all software features is available to you when you sign up for Gusto HR free trial here.
monday.com is primarily a collaboration software but it offers a wide variety of tools that will allow you to perform HR functions. For example, it comes with recruitment management options as well as time tracking tools. This way, you can hire the right employees, keep track of time spent on projects, monitor employee attendance and leave, and measure performances.
If you want to know more about the features of this product, you can easily sign up for monday.com free trial here.
OnPay is an all-inclusive payroll management platform designed to help small and medium businesses. It is equipped to automate all payroll processes, payment workflows, and tax filing. What’s more, it comes with self-onboarding options that make it easy for your employees to check out their pay information without having to request it from their managers.
You can try all its premium features at no cost when you sign up for OnPay free trial here.
Paycor is an integrated HCM tool built for businesses of all sizes. It comes equipped with an all-in-one HRIS system to help companies manage recruiting, onboarding, reporting, timekeeping, payroll management, and tax compliance. Furthermore, it comes with great reporting and analytics features that allow you to gain in-depth insights into your HR processes.
If you’d like more details about what this product has to offer, sign up for Paycor free trial here.
Digital drives many significant implications for both the business and human resource departments. Take a look at a few advantages:
While technology plays a crucial role in transforming HR management software and operations from personnel management to business execution, technology itself does not create this change. 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.
Technology is poised to disrupt HR and redefine the future of the human resource department. As HR continues to adopt the change, the enterprise will become smarter. Employee engagement and culture management drives HR in the ever-changing landscape. The business mainly depends on three things – defining strategy, asset management, and driving business execution. By virtue of technology, HR, for the first time in history, is playing a true leadership role in business execution.
If you want to get started with a powerful yet cost-effective HR software, we recommend that you start with a solution that is in tune with the technological trends we cited above. You can sign up for BambooHR free trial here.
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