HR technology refers to the many different kinds of apps, software and online tools that allow already established and aspiring businesses alike to properly manage their staff in a fairer, more efficient way by tackling virtually every single aspect of human resources.
The importance of technology in this particular field should not be understated at all; it involves performance management, employee experience and talent acquisition, while assisting HR professionals improve and streamline processes through automation as a means to effectively save money across the organization.
How Does HR Tech Make HR Processes Easier?
Complexity has proven to be one HR personnel’s greatest enemies through time, particularly if a company operates in more than a single office or branch. Resorting to technology in order to automatically standardize and monitor HR processes reduces complications and streamlines a general completion of tasks. This means that computerized automation is able to minimize not only the difficulty but also the quantity of steps needed. A common way technology is being used by distinct human resources departments is to automate paper work, overtime registration, tax calculations and payroll activities,
HR technology relies on advanced software that allows the simplification of many activities, which tend to be affected considerably by human error at times due to the repetitiveness of steps and data they entail. A typical issue found throughout most human resources departments is the duplication of information because of the massive data copying that can take place across multiple systems. Automated computer programs significantly help reduce the amount of mistakes that could be made unintentionally by staff members; fewer errors unavoidably translate into more expedited and accurate reporting.
How Can HR Tech Benefit Companies?
Multi-level automation can enhance the overall performance of any given company in terms of money, time, procedures and staff administration. As a result, department heads are enabled to focus better on tasks and priorities. An HR Executive report released earlier this year noted that “83% of HR leaders say HR technology enabled them to be more flexible and responsive to changing needs while helping their businesses become more resilient,” highlighting the great significance of HR technology, even during the current COVID-19 pandemic.
Below, you will find a set of advantages and benefits that human resources divisions, as well as enterprises as a whole, can reap from implementing specialized technologies to their regular administrative operations and duties:
- Reducing costs and saving money. This is particularly noticeable when taking into account the fact that a lot less actual paperwork is required.
- Contributing to a more agile business environment. Streamlining numerous internal processes of a company avoids errors while lightening employees´ workload.
- Improving internal communication by using employee self-service online platforms, communication apps and intranets, together with electronic forms, policies and reports like automated business plan templates for greater general cohesion.
- Bettering talent acquisition through candidate assessment tools or onboarding software technology to simplify applicants´ recruitment and development to meet specific company goals.
- Developing a more strategic human capital management, such as implementing succession-planning software with the objective of identifying and documenting high-performing employees within an organization.
- Managing remote workers efficiently. Human resources-specific software allows keeping track of and supervising staff members or contractors who might be working from home or at another external location.
- Training and developing employees in innovative ways like online training programs, creating apps, games and quizzes to increase their skills and enhance their performance.
- Creating and gathering valuable data analytics that can be used to either improve productivity or spot negative variables, like increased absenteeism from staff members at all levels.
What Are the HR Tech Trends for 2021/22?
The modern world of technology is constantly moving forward and progressing in the development of newer, more advanced features. HR tech is no exception to the rule as documented by The Information Services Group (ISG) in its 2021 survey on industry trends in HR technology and service delivery, taken by 260 companies that range in size from 5,000 to 50,000 employees.
Data security has been one of the greatest HR tech trends during this year and it is expected to continue until the end of 2022. The human resources department in every company is responsible for holding a great deal of personal and confidential data from employees, and more employers are now realizing the increasing importance of safekeeping that information. On the other hand, self-service technology for employees to handle HR-related tasks themselves has become quite popular in the field because it reduces administrative overhead, improves productivity and increases employee satisfaction.
There has also been an accelerated shift toward cloud-based systems due to their convenient accessibility for managers and employees across divisions, subsidiaries and geographies. The technological trend with probably the largest growth potential is Artificial intelligence (AI) for its ever-growing accessibility, which allows managers to focus much better on human interaction instead of tedious or routine tasks. The bottom line is that HR-related jobs are projected to grow and so will the demand for professionals with the right education and background to fill those roles. Likewise, the demand for HR tech specialists will continue to grow proportionally to the development of HR technology like is currently happening.
Tomas Laurinavicius is a co-founder of Content Writing Jobs, Editor in Chief at SimplifyLLC, a lifestyle blogger, and content marketing consultant. He writes about lifestyle design, productivity, and entrepreneurship on his blog and lifestyle design newsletter.