Key Technologies Redefining Human Resources
Rapid changes in technology have affected businesses in multiple ways. As the fine line between physical and digital world is getting blurred with each passing day, the fusion of technology and HR is gaining momentum. Globalisation, digital revolution and demographic shifts are the key drivers of a new world of work- spaces where the emphasis is towards employees who are more connected, tech savvy, and on the go.
In the last few years, the field of digital HR has been undergoing constant reinvention. Technology has created a shift in how HR works — from the conventional administration of performance management, employee motivation, training, compensation, safety, and wellness initiatives to becoming a strategic business partner driven by real time data and insights.
There are various technologies available that have made the functions of HR more effective and productive. Today, every other organisation is adopting some HR technology that is employee driven instead of being organisation centric. Technologies include predictive hiring platforms that discover and engage high-impact talent through data science and predictive analytics. These technological innovations help businesses discover and target high-fit talent, engage candidates through personalised interactions, and accelerate hiring cycles at scale.
In a recent white paper, ‘The Connection Between HR Analytics & Employer Brand,’ RiseSmart reported that nearly 70 percent of unemployed job seekers said that they would not take a job with a company that had a bad reputation, and that 84 percent of employees would consider leaving their current job to work for an employer with an excellent reputation – even if the salary increase was below 10 percent. Given these statistics, employers can no longer conduct involuntary turnover events and simply, ‘hope for the best’.
The system enables secure transmission of delicate HR data and gives HR experts the capacity to manage outplacement qualification records with a single keystroke. With RiseSmart Insight, organizations can track and analyse outplacement performance and view the status of transitioning employees in real time, and it even has a unique characteristic that estimates how past representatives feel about the organization, the Alumni Sentiment Rating (ASR) that identifies past employees who might recommend the organization to others and detractors who might not, enabling employers to gauge the effect of outplacement benefits on their employer brand and measure ROI on their outplacement investment.
Initially, the human resources industry was highly dependent on piles of paper, filing cabinets, and desk drawers before the cloud revolution. Naturally, this has led to inefficiencies, security issues, data loss, and chaotic office spaces. Cloud-based HR systems and applications are seen as essential to HR and the adoption of cloud and cloud-based applications in HR has increased over the past year and it is expected to grow in 2018 as well.
Technological advancements enable HR departments to store sensitive information for access at any point of time. Documents and other pertinent information are easily accessed online while data can be collected through simplified forms and automated processes. Employee information — like tax forms, payroll data, performance reviews, layoff lists, and contact information — can be archived and organized in one secure location.
Cloud-based systems and big data go hand in hand. If interpreted well, this data can provide valuable insights, which can strengthen the HR functionalities. However, in the future, HR’s challenge will include the need for higher levels of interpretation and broader application of the insights provided by cloud-based systems and big data. Having systems that take the burden of calculating critical insights and delivering automated reports will be key to the use and value of HR solutions.
As technological penetration happens in the field of HR, it will open doors for artificial intelligence and data analytics. It is essential for processes to become more simplified, integrated and accessible. Irrespective of what era we live in, there will always be a need for easy-to-understand, accessible and well-built tech solutions which aim to resolve pain points and ease the burden of effective human capital management.
