The ROI of hiring a candidate using HR technology is far greater than hiring through the traditional processes, according to a new research. However, employees still seem hesitant adopting the new and savvy ways of working.
This resistance from employees (31%) remains the biggest barrier in adopting technology for HR processes revealed a TimesJobs survey on ‘Decoding the impact of Tech in HR’. The survey was conducted among 1,380 HR leaders to decipher the impact of technology use in HR.
The lack of knowledge or technical skills (30%) was cited as the second biggest hindrance for HR technology adoption at Indian workplaces. In the survey, 35% survey respondents said that the biggest impact of technology in HR has been in streamlining the recruitment processes. Nearly half of employees stated that organizations are using HR tech mostly to hire middle-level professionals. Also, 59% of HR leaders said that investment in technology has boosted the profitability of organizations.
Tech in HR drives employee productivity and innovation:
The TimesJobs survey findings reveal that 43% of HR professionals consider employee productivity as the biggest reason to invest in technology. About 24% of respondents invested in HR technology to accelerate innovation. Around 46% of HR leaders said that the adoption rate of technology in hiring function is going to go up by 3-4 times in the next five years.
Data security a top priority for Indian companies to invest in HR tech
Organisations seeking to leverage new-age technologies to optimise their HR activities, ranked data security as the top reason for choosing HR software for their company. Whereas, functionality and easy maintenance of software were ranked as the subsequent factors for the companies to consider HR software. Price ranked as the last factor while buying an HR software.
“The use of technology can no longer be just an option for HR leaders. To win the war of talent, they will have to continuously invest in new tools and technologies to make their processes efficient and improve productivity. The TimesJobs survey findings reveal that the change has started happening on the ground and more companies are becoming tech-focused. Having said that, there are still barriers in tech marrying HR that business leaders can help overcome”, said Sanjay Goyal, Business Head, TimesJobs and TechGig.
The key technologies impacting HR processes
The TimeJobs survey also asked about the technologies that would drive the hiring function. The findings state that Data Analytics (42%) and Artificial Intelligence (36%) are the top two technologies which will impact HR processes most.
The survey touched upon the next big emerging technology in hiring that will drive the biggest investment from HR leaders. The majority (33%) of HR leaders said that they would mostly invest in Robotic Processes Automation (RPA).