“The secret of change is to focus all of your energy not on fighting the old, but on building the new.” These famous words by Socrates are resonating with businesses that have had to deal with the arrival of the COVID-19 pandemic.
Businesses from all over the world are gradually recovering from the fireball that hit them in the form of a pandemic last year. Today, most businesses have found innovative ways to deal with the changes inflicted by the COVID-19 pandemic.
Many organizations have adopted a remote work model and are increasingly relying on online collaboration techniques. Remote working was unthinkable for a lot of businesses before the pandemic. However, at present, as workplaces continue to evolve, they are gradually finding value in this model.
Technology will remain at the forefront driving this change and that is why HR tech is seeing a whirlwind of innovation. We are going to take a closer look at how technology has made an impact on HR processes.
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Say Hello to Smarter and Faster Recruitment
Let’s start with recruitment! A decade ago, recruitment processes were less reliant on technology. Today, chatbots, artificial intelligence (AI), mobile tech, and HR software solutions are used in almost every stage of an HR process.
Automation has made a positive impact on recruitment. Businesses have an array of solutions to choose from to fast-track different phases of recruitment. Right from scanning CVs to identifying candidates based on pre-set criteria, HR executives are saving hundreds of hours by automating these processes.
HR teams can also send automated messages to candidates to inform them about the status of their applications.
Technology has equipped HR professionals with the ability to pick the right candidates from a large pool of talent, accelerate the entire recruitment process, and invest less time in mundane tasks.
Performance Reviews You Will Look Forward to
The impact of technology on performance reviews can be seen very clearly. Software vendors involved in the HR tech space have consistently modified their products which now incorporate different types of performance review options such as 360 feedback, peer-to-peer reviews, engagement surveys, self-assessments, and leadership reviews.
There are some amazing HR solutions that come with robust features to keep managers and employees in the same feedback loop. These features and functions aim to streamline the entire performance management process.
There is no escaping from automation! Tedious, repetitive, and recurring tasks are being streamlined and HR teams are saving more time than ever before. HR objectives are falling in line with the “people first” trend and new solutions are being made available to attain these goals.
Analytics is not just for the Nerds!
If you would have floated the idea of analytics to an HR professional a decade ago, they would have shrugged it off. However, since human resources are gradually transforming into a strategic function, analytics and HR are coming together. HR professionals are using analytics to improve HR processes and also improve organizational culture.
Although analytics is gradually becoming popular in the HR space, it is largely concentrated in certain industries. In the current scenario, the adoption of HR-centric analytics is relatively low. Only 22% of companies use HR analytics around the world [1]. However, we are anticipating that this number will grow in the upcoming years as more and more companies are using data to create an analytics database.
The most noteworthy benefits of HR analytics include improvement in employee experience, accurate employee insights, enhanced training processes, secure storage of employee data, and more.
Analytics is enabling HR professionals to make data-driven decisions. Data-driven decisions are enabling organizations to deal with employee satisfaction, talent retention, and improving company culture.
Analytics is a hot topic in the HR technology landscape and we do not see that trend fading away anytime soon. Want to explore the importance of human resource analytics? Check out our interesting article that speaks more on that subject.
Creating an HR Stack
There is no hiding from the fact that you need technology solutions that help you analyze, capture, and store data in real-time. Although human resources do not demand individuals to know the ins and outs of technology, a basic level of understanding is a plus point.
Business leaders should not overlook HR when they are creating a tech stack for their company. HR tools offer a gamut of benefits that help organizations make swift decisions.
Look for an HR software that fits into your budget, solves your problems, and has all the features you are looking for. Make an attempt to stay connected to your data so that you identify areas of improvement.
Identify the different aspects of your HR process that can be improved. Your next priority is to look for HR platforms that boost employee engagement, improve performance, and pave the way for development and growth.
Identify the gaps and fill them with the HR stack of your dreams. Machine learning is gradually taking over the HR world and we won’t be surprised if it is a key component of HR in the future.
Check out the impact of machine learning on human resources.
HR Tech Will Continue to Evolve
Technological advancements coupled with changing organizational objectives will continue to have an impact on HR processes in the future.
It is hard to imagine a scenario where technology is not being used to perform various functions of HR. Apart from the entry of new HR tools, we will see a paradigm shift in how HR professionals approach their job and responsibilities.
Technology has made an impact on all aspects of a business and HR is not an exception. HR roles are gradually changing and moving beyond administrative activities toward the operational side. We expect unproductive and mundane HR tasks to be completely automated in the future.
Moving ahead, HR professionals should have a keen interest in the latest developments within the HR tech space. This will allow them to stay ahead of the curve and make better and smarter decisions. HR leaders should focus on leveraging data to make life easier for HR professionals and employees.
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Source:
[1] (2018) “Human Capital Trends” Lumen [online] Available from: https://courses.lumenlearning.com/wmopen-humanresourcesmgmt/chapter/adoption-trends/ [Accessed August 2021]
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