HR Tech Trends: What to Expect in 2020
Employee benefit has become crucial than ever. It is the key ingredient for effective human management and administration. With the rising demand for highly-skilled, professional, and skilled personnel across various industries, companies need to come with well-defined benefits and HR strategies to improve recruitment, retention, and employee engagement. Considering this, many organizations have switched to HR Technology that has revolutionized the way HR teams operate.
Let’s go back a decade back and analyze the past ten years. What an amazing decade it has been for HR tech. The modern corporate world witnessed flexible working environments to rise in the gig economy, the tech solution automated almost entire HR processes, helping them deal with employees like never before. Now, halfway through 2020, and every business is looking forward to implementing an effective Human Capital Management system, an HR software tool, to keep pace with the evolving technology. The HR professionals can have access to the data within a few minutes which helps them to ensure enhance the way a company works. The HR tools have paved a way for new opportunities to improve the work and deliver better employee benefits plans to employees. Are you still stuck with the traditional practices? Then you are missing some of the greatest opportunities for your business and employees. It’s time to embrace HR technology to make your company ready for the future.
Before you make your shift, it’s important that you get familiar with the trends that you can expect in 2020. So, we have jotted down 10 rising trends of HR software and technology to help you prepare better. Let’s get started with it:
BYOD (Bring-Your-Own-Device) Policies
Internal communication is essential to ensure a smooth workflow and enhanced performance. Hence, companies prefer implementing an effective communication system where employees can connect with each other for discussions and meetings. In fact, according to a survey, more than 83% of employees have agreed that frequent interaction is a key factor for a positive work environment. However, most organizations lack sufficient budget to incorporate an internal communication system. In such scenarios, the Bring Your Own Device strategy can come in handy to connect all the staff members, including remote workers, managers, and factory workers. A reliable HRIS software can be integrated into a laptop, desktop, or any on-the-go device that will connect the workforce anytime, anywhere. Moreover, it will also keep data and information exchanged between the employees safe, maintaining security within the organization.
HR departments have a lot to handle. Their job goes beyond hiring and firing employees or addressing concerns of the staff members. They have to take care of payroll, leaves, overtime, employee benefits schemes, and whatnot. Of course, companies have switched to online Human Resource Software to make their tasks easier but still managing all the reports and data gets complicated at times. A cloud-based portal is a perfect solution for this where employees can manage their own data and details. This will not only decrease the burden on HR managers but also saves a lot of time. The office members can log in to their official accounts, update the information, such as name, contact, address, etc., mark their leaves, review their work, and prepare monthly reports. If you also look forward to a more organized work environment in your company, then connect with HCM software companies now to include a self-service platform for your employees and provide them a better experience.
Artificial Intelligence has been around for years now and has now become an integral part of HR technology. Although many companies are still not using it, you can expect its application in the Human Resource Management system in the coming years. One of the most common uses will be in the hiring process where AI will help identify the right candidates for the job position. Now, rather than screening hundreds of resumes, the software will scrutinize all the applicants based on skills and experience instantly to shortlist the candidates that are the right fit for the job.
Many big brands are already tapping into the potential of AI in their recruitment process. As the job application starts with a phone interview and question-answer round, the AI system analyzes the responses of every applicant. Besides this, AI is also extensively used in employee benefits solutions for helping staff make the right elections. AI-base systems provide personalized plan recommendations to employees based on their demographics and preferences. For other activities like staff scheduling, leave management, and more, HCM vendors are exploring opportunities for AI usage. In fact, some are already using AI successfully for staff scheduling and leave management tasks. Anyways, the accuracy is not that great as sorting staff schedules using Excel manually.
It also helps enhance employee engagement and productivity and provides the best solutions by going through historical data.
Cloud-Based HCM Solutions
HCM is a new trendsetter across companies and industries. Companies are using online portals to manage their workforce, provide the best benefit plans, and make operations easier. However, most of them have failed to keep pace with the updated versions of the software. Organizations are still using the old program which is hardly effective in these modern times. However, as more companies will upgrade their IT infrastructure, you can witness a new cloud-based app/software that helps HR professionals and employees to store necessary data on cloud servers. Initially, many companies were doubtful that cloud-based technology might not handle their complex needs but now they see it as a stable and reliable solution. You must connect with an authentic HCM software provider without any delay as this is likely to become the priority in the coming years.
Virtual or Remote Workspace
Remote working was not that popular but the recent COVID-19 pandemic has redefined the concept. The companies are accepting this culture and may even switch to remote workers more. The employees have the liberty and flexibility to work according to their convenience and the increased quality & productivity is quite significant. The global crisis has certainly made employers accept the idea of remote working and they are looking forward to investing in the technology that makes it possible and beneficial. HRIS portals can be exclusively designed for the purpose that provides a solution for virtual and remote workspace. Moreover, the way employers recruit will also change as they can now have a global team on board with whom they can connect using video conferencing apps, interact, discuss using collaboration tools.
One challenge while using HR software or technology is that employees don’t get used to it. They have to create a separate account on the portal, go to a long URL, sign in every time, etc. So, they prefer not to use any online Management tool. You can see a solution to this problem as more tolls will be introduced that can easily integrate with the ones that employees are already using. HR software companies are coming up with a system that is accessible through Slack and Outlook. With APIs and EDI Services in place, companies are well sorted with their integration needs.
Employers and HR professionals must take note of these trends in 2020 and start planning to adapt to these changes. Rest assured that these rising trends will help you, employees, and aspirants meet their demands and accomplish tasks efficiently. We are sure that HR technologies will continue to grow and with careful selection of HCM software, you can deliver an enhanced experience to your workforce.