Innovation is crucial for society’s future well-being and driving economic growth. Current business and technology trends suggest that the way people work will continue to evolve over the next five years. This change will be significant, with differences in the location, time, purpose, and collaborators, bearing little resemblance to work today.
Mentioned below are the top 5 technology trends that will redefine the workspace in the coming 5 years.
1- AI-enabled chatbots
By 2023, HR management will see a significant improvement through the application of AI-powered data analytics. The use of chatbots for employee engagement will help monitor job satisfaction and identify potential risks. The adoption of HR technology and AI-powered data analytics platforms is expected to skyrocket, enabling HR leaders to make informed decisions and create a safe and diverse company culture.
2- Wearable devices
Wearable devices, like smartwatches, are gaining popularity in HR tech. They can be used to record attendance and track health data such as heart rate, blood pressure, sleep quality, and physical activity. AI can analyze this data to understand employee engagement and wellbeing. Smartwatches offer a touchless solution and can improve employee experiences while promoting health awareness.
3- Metaverse
The term “Metaverse” is currently a popular buzzword and topic of discussion. Managing a workforce effectively has become a challenge, particularly with the prevalence of remote work. Metaverse could be the ideal solution for HR managers, as it has the potential to redefine the concept of hybrid work. With the help of augmented reality (AR) and virtual reality (VR), employees can collaborate and engage from any location. It can bridge the gap between physical and virtual offices.
4- People Analytics
Data-driven decision-making has become more accurate than traditional approaches, thanks to the exponential increase in data generation and capture. HR tech is leveraging this approach for human capital management using SaaS platforms, advanced analytics, and People Analytics. Remote and hybrid work models will continue to use these tools for measuring performance, workforce planning and management, employee engagement, development, salary and promotion decisions, and maintaining work-life balance.
5- Compliance Automation
Cutting-edge technologies and automation are transforming regulatory compliance, making it more efficient and cost-effective. HR technology is rapidly advancing, and compliance automation will become an integral part of HR tech. This will provide a seamless experience for businesses. With limitless possibilities, numerous innovations are expected to arise in HR tech.
HR technology has advanced significantly in a short time, and it is now time for the world to experience the best of it. The possibilities for HR tech are limitless, and we can expect numerous innovations to arise as a result.
(The author is Sumit Sabharwal, CEO, TeamLease HRtech, and the views expressed in this article are his own)
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