In today’s ever-changing and competitive business environment, businesses need to pay close attention to technological innovations to succeed. The Covid-19 Pandemic has accelerated the infusion of technology into everyday HR processes. Much like the spread of the virus in many places, this trend has shown no signs of slowing down. The future of tech in HR will help organizations hire the best people, manage and promote their employees better, and streamline all of their salary and benefits systems.
Here are 8 tech trends that will define the future of HR in 2020.
- Robotic Process Automation (RPA)
- AI & ML
- Software Automation for HR Processes
- Employee Experience-Driven Development
- Virtual Reality
- Well-Being Technologies
- Remote Workspace Tech
- Data-Driven Decision Making
1. Robotic Process Automation (RPA)
In the world of HR operations, Robotic Process Automation (RPA) is the one that has brought the majority of significant changes. The HR experts at hrassured.com.au explain that through the use of robotic tools like chatbots and Natural Language Processing, business owners and managers can speed up communication and increase productivity by giving people access to the right data the right time. Chatbots are the frontrunner in RPA and provide various benefits to employees, such as answering common inquiries and assisting with learning initiatives.
2. AI & ML
A considerable amount of employee data is collected by companies. Thanks to AI (Artificial Intelligence) and ML (Machine Learning), employers now have a platform to put this data to use and make meaningful changes in the workplace. It enables businesses to identify and provide their employees with better resources to help them work more effectively. These systems can also take care of repetitive tasks such as pre-payroll, post-payroll, and enhance processing payments accuracy.
3. Software Automation for HR Processes
Software automation frees employees from tedious manual tasks to give them more time and resources to focus on more important decisions and business operations. With automated processes, organizations can cut down on the cost, time, and effort typically spent on manual HR planning and processing while improving efficiency and reducing human error. Standard HRMS Software processes that need to be automated include employee onboarding, tracking timesheets, calculating and approving sheets manually, and managing performance data.
4. Employee Experience-Driven Development
As far as HR is concerned, employee experience is the new customer experience. The importance of maintaining an organization’s corporate culture, improving staff motivation, and offering them better learning opportunities and benefits cannot be stressed enough. When it comes to an employee’s relationship with their employer, it goes far beyond just salary, and enhancing their experience in any way can improve a business’s reputation and transform the company into a more dynamic, agile, and flexible organization that is ready to take on all challenges.
5. Virtual Reality
As remote work has increased due to Covid-19, employee training and development has also moved online, and many organizations have already taken advantage of the latest HR Tech innovations and established their own Learning Management System in a way that fits their employees’ learning styles. With the help of gamification and VR, companies can now collect data based on their employees’ training performance, which can highlight their potential, possible skill gaps, and job competencies.
6. Well-Being Technologies
Employees’ well-being is not a new concept, but in recent years, the most successful organizations have made it a priority. As we are working harder than ever, the line between work and life has been blurred, and as a result, many people have adopted a new idea of work-life blend. In combination with workplace pressure in such a competitive business environment, that has led to potential emotional and mental problems for employees. Consequently, HR leaders are developing new well-being technologies in order to improve happiness and reduce the stress and burden of pressure on employees.
7. Remote Workspace Tech
Covid-19 lockdowns have seen a massive increase in the number of people working remotely, but staying in touch with the rest of the company has never been easier. Remote Workspace Tech revolutionized the changing face of work, emphasizing accessibility, and convenience for everybody, especially for dispersed teams. Without going to work and attending meetings, employees can still share information and network with other people in the company. Consequently, they can easily self-manage and accomplish their tasks from anywhere.
8. Data-Driven Decision Making
HR departments have to implement responsible workforce data strategies to establish trust and generate sustained revenue growth. A big part of that is collecting precise workforce information to create a more innovative and productive organization. With data analysis technology development, businesses can move beyond antiquated reports to more targeted analysis and conclusions. From advising business leaders using attrition predictors to leveraging big data analytics, it has never been easier for businesses to optimize their operations and processes.
When it comes to HR, the key when developing new technology is identifying essential human elements and supplementing them with the best software, automated processes, and data analysis. This enables businesses to create new opportunities, boost productivity, and focus on what they are good at. For companies to stay up-to-date and thrive in such a competitive environment, it is essential to implement strategic and practical technological solutions to keep employees happy and gain an advantage over competitors in the future.