Five Ways HR Tech is Revolutionizing Workforce Management

Technology isn’t the biggest challenge. Creating a culture is.

Bringing technology to HR functions is much more than posting jobs on social media accounts. To truly integrate HR technology in organizations entails fundamentally changing the way we work and view the role of HR.

While the takers of technology in HR are consistently increasing, many are still figuring how to reap its full potential. The HCM Trends report of 2019 by The HR federation reveals that the percentage of employers intending to replace or buy new Human Capital Management (HCM) technology across seven sub-categories of HCM has witnessed a steady rise from the first quarter of 2017.

What is HR technology?

Though an emerging field and innovation in HR tech still being in nascent phase, it colloquially entails HRIS (Human Resource Information System) such as Zoho and Keka, among others; Payroll, time & attendance software; benefits administration software and tech for talent management and talent acquisition categories. People analytics is among the newest and hottest in HR tech trends.

Irina Novoselsky, the CEO of CareerBuilder says, “Our research shows that more than half of HR managers fell AI will become a regular part of HR within next five years.” In the same vein, the report on ‘The future of HR 2019’ by KPMG shows that HR professionals are harnessing IT resources to redefine HRM for enterprises.

Here is how technology is transforming HR.

HR Tech Trends—Five Ways technology is revolutionizing HRM

1. Technology in Talent Acquisition: Smart Recruitment

Talent Acquisition is the most basic, but among the diverse role of HR silos. Given tight talent markets, talent acquisition has also become very challenging. Leveraging technology, from social media channels to customized talent acquisition tools, HR divisions are tapping in bespoke talent pools.

HR technologies are also being used for efficient talent screening. HR Software with a combination of AI and machine learning can sift through thousands of resumes and easily match the hard skills. HR professionals then can screen candidates for soft skills. The director of GoodHire, a background check company, Mikaila Truman tells that by using a tech tool named Entelo, they are able to reach qualified engineers, even in a better manner than when done through LinkedIn.

2. Technology in Performance Management: Agile Workforce

Forward-looking HRs are forgoing the practices of annual performance appraisals and taking up frequent evaluations. As more and more employees work on short-term projects around different teams, HR tech is facilitating immediate, short-term performance assessments. The generated raw data is scrutinized through people analytics, the newest in HR tech trends, to optimize the workforce’s performance.

3. Technology in Learning & Development: Talent Retention

With the coming of gig economy, it is becoming more difficult than ever for the companies to retain employees. Statistics suggest millennials prefer a learning culture and opportunities for reskilling in an organization. Technology can help HR professionals to not only conduct spaced training programs but foster a learning culture. Organizations are doing it by forming common learning platforms via mobile applications and other methods.

4. Technology in Feedback: Multidirectional

A feedback renaissance is taking place in HR. It is said that every feedback has certain life. If no action is taken on it within that lifecycle, its impact becomes negligible. HR technology is making the feedback process quicker and more efficient. Delloitte, for instance, has integrated employees’ evaluation system with frequent multidirectional feedbacks—from managers and even peers.

5. Rise of Strategic HR

Last, but not least, the use of HR tech has freed HR professionals from day to day mundane tasks. This has given them time to spend on strategic workforce management from a long-term perspective. New HR technology of the likes of data analytics and the use of AI and Machine Learning is also coming handy for the fulfillment of strategic roles.

Many organizations are opening their doors to the AI and machine learning in HR, are you one of them? Let us know the dilemmas and impediments faced by you during this transition.