Evolving Role Of HR Technology To Drive The Future Of Work
From creating a healthy, growth-enabling environment for professionals in managing day-to-day leadership management activities, the Human Resource industry has come quite a long way. Besides the ongoing digital transformation wave, the introduction of HR technologies is influencing retention and attrition rate at any organization while also helping businesses make strategic choices related to recruitment, compensation, talent and performance, employee experience, organization culture, and more. The integration of various HR tools and technologies have not only reduced work time span, but has also reduced the pressure of traditional practices by enabling process automation.
The global human resource management sector has been able to harness the power of advancing information technology, artificial intelligence, machine learning and predictive analytics, and by 2025, the HR sector is expected to reach $30 billion. Here are a few types of Human Resource Technologies that are paving way for a promising future of work:
• Artificial Intelligence: Top-tier companies across the world have invested in AI for various HR tasks, from candidate screening to candidate relationship management, enabling the human resource team to be more focused on performing strategic and cognitive tasks. Today, AI-chatbots can help streamline employee queries and improve engagement. Moreover, the adoption of AI-technology will be boon for companies as it also helps customize employee learning experience based on their job performance.
The integration of various HR tools and technologies have not only reduced work time span, but has also reduced the pressure of traditional practices by enabling process automation
• Virtual Reality (VR) and Augmented Reality (AR): The simulation of real-life employment experience using AR and VR technologies can enable potential candidates to make an informed choice. In fact, human resource can hire professionals who have the potential to make a difference when they join the team based on real-life simulations. Besides the hiring process, the human resource team can use AR/VR technologies in learning and development activities by navigating real-life simulations for professionals.
• Data and Analytics: Various aspects of human re-source responsibilities, such as employee experience, growth, leadership engagement, and more, can be driven by technology if there is enough data available to analyze. Organizations are working on building a database of employees' demography, behaviour, key motivators, and other aspects such as interests, attitude, skills, performance, sentiments and more. Being able to understand a human using HR technology will enable the recruiters to hire distinct employees while offering them hyper-localized deals that truly inspire. Basically, data and analytics will provide a holistic insight into the potential candidate and directing HR towards the right fit!
• Digital Human Resource Information Systems (HRIS): The pandemic has shoved digital transformation in the face of every sector, and the recruitment industry is not blind to it. With companies operating from home, digital or cloud HRIS systems have become THE solution to manage teams, reduce costs, improve collaboration and offer flexibility. Cloud HRIS will enable employees to work full-time remotely in a well-functioning policy driven work environment.
• Mobile-first approach: Whether it is hiring, learning and development, communication within the organization or continuous performance management, the human resource teams are looking for mobile-first solutions such as an app where the employees can find anything and everything. Major companies believe that an integrated mobile ecosystem is the way to stay connected anytime anywhere - as it will not only help in learning on the go but also act as a solution for various HR-related queries and help make informed choices.
How is Technology helping the Human Resource in the long run?
HR has undergone dynamic shifts in its role, functions and overall part it plays in shaping any organization. The COVID-led pandemic has not forced digital trans-formation on human resources, however, it has allowed businesses to evolve and adapt to the changing times. The latest survey by KPMG reports that 39 percent of futuristic and efficient HR leaders are harnessing the resources and insights to meet the heightened expectations from the business and employees alike.
Creating an inclusive and diverse work-place can also help businesses and HRs to look beyond the biases of gender, race, age and or more. While it seems challenging, leveraging technology can help motivate HR professionals to work without any cultural interference as the technology acts as the decision maker.
The integration of technological solutions in HR processes will offer a holistic approach towards uplifting the business and directing the employees' growth towards a similar direction. HR tools will act as the kind opportunity for revolutionizing the work processes allowing HRs to be proactive and make strategic choices.
The Bottom Line
Today, the organizations that will be able to combine effective HR management processes with smart, modern HR technology are very likely to be more productive and more profitable than those who do not transform with the advancements. HR technologies are assisting in paving the way for strategic growth by offering more time at hand to HR teams for decision-related to employees at every scale.