How the Future of HR Technology is Set to Change

Shefali Vasave | September 20, 2021 | 305 views

A PwC study shows that over 58% of businesses deploy HR technology for attracting and retaining new talent. With the Covid-19 pandemic, HR analytics and automation are slated to embed deeper into the people management framework. The demand for optimal HR tech will put it at the heart of a global transformation in the workplace.

While HR professionals will see a drastic rise in their responsibilities, HR tech is evolving even faster. Therefore, keeping up with the latest trends in HR can prove critical in meeting business objectives.

The unprecedented demand for tech in workforce management is demonstrated by the fact that by 2022, the HR technology market will surpass $10 billion and there is a reason for that.

Covid-19 led disruption in HR management

The role of HR has acquired a new dimension post-pandemic, going from supporting a business to driving much of its momentum through its employees. In addition, it has forced organizations to modify their priorities about their workforce.

A Harris Poll survey of U.S. employees reveals that about 48% of employees reported feeling isolated from co-workers and 42% felt their career progression has been impacted due to lack of in-person interactions. As a result, employee learning, mentoring, engagement, mental health and all-round wellness are more important than ever. And HR technology is rapidly taking shape to cater to this new outlook.

Most successful organizations share the awareness that people management is the key to achieving great heights in business. Taking a people-first approach will help mitigate the hurdles created in the aftermath of a global health crisis. Integrating technology into the fabric of HR management might be the answer.

The confluence of HR and technology

Now that companies manage a workforce scattered across various physical locations providing a boundless working environment is vital. Simulating an office atmosphere may not be completely possible, but recreating the workplace experience virtually with collaboration, communication, engagement at the core is within reach.

Recently, Miami-based startup, Mytaverse launched a VR platform to make remote work more productive and collaborative.

On the other hand, HR tech has revolutionized core HR processes as well. Increasingly, human resources professionals are relying on technology to automate everyday operations.

It has made paperwork redundant and reduced the scope of administrative duties, creating more efficiency and redirecting precious resources to be used in a strategy-driven manner. In addition, HR functions like payroll and compliance being digitized will make HR a powerhouse of strategy and analysis.

Performance management will also see tangible impacts. With the adoption of analytics across employee engagement, recognition and retention components, HR managers can make better data-backed decisions. 

The pandemic has also provided HR tech startups and software providers with much impetus to innovate new solutions. As a result, feature-rich platforms which offer end-to-end user journeys that align smoothly with every stage of the HR workflow are on the rise.

The rapid growth of the HR tech market demonstrates that organizations, too, recognize the need to upgrade their HR tech.


Hiring with Artificial Intelligence and Machine Learning

While onboarding and recruitment have always relied on technology, Artificial Intelligence (AI) and Machine Learning (ML) are further opening up avenues of optimization. Technology is no longer just the facilitator but a catalyst in the hiring and onboarding process, as proven by the recent launch of Engagement AITM.

The only way to improve the recruitment pipeline at scale is to automate the labor-intensive parts of the sourcing process with AI while optimizing candidates for quality. Today, recruiters manually reach out to candidates for each role only to receive a few responses. About 63% say that talent shortage and engagement from candidates is their biggest problem. Talenya's Engagement AITM converts ‘passive’ candidates into applicants without the extra work by optimizing and fully automating the process.

- Talenya CEO and Co-founder Gal Almog

Talenya, a leader in AI-powered hiring solutions, launched its fully automated talent sourcing software, Engagement AITM, to engage passive job seekers. The tool allows HR teams to be proactive in automating sourcing and contacting candidates who meet requirements. The tool further integrates with Talenya’s Diversity AITM to design talent search keeping the organization’s diversity goals in mind.

Software innovations like these take hiring to the next level by integrating organizational HR objectives into one powerful solution. Additionally, with the advent of cloud solutions, organizations have the opportunity to create a truly boundless HR process.

Is cloud-based HRMS the future?

Any discourse on HR tech is incomplete without the mention of cloud-based human resources management.

Today’s HR tech may have eliminated paperwork, but cloud solutions helped organizations put it into action. As a result, HR professionals can store, access and manage vast amounts of information through a centralized portal with virtually endless storage capacity and built-in data security.

Small businesses are especially making the most of cloud-based HR software solutions to move from an offline outdated HR function to a more future-ready setup. With single-point tracking, cloud platforms allow HR teams to manage workflows across all HR functions seamlessly.

In addition, the flexibility of the cloud and its ability to scale without extensive modifications has leveled the playing field for small businesses. As a result, they can compete better and scale faster.

Discovering new horizons of HR Management

The future of human resources technology is in good hands as providers and tech leaders continue to keep their eye on the future. Further, data analytics in HR is being used to gather insights into the workforce and to predict patterns and outcomes. For example, predictive analytics will be central to HR as more and more HR teams use it to identify which employees will be successful and most at-risk for turnover. But there is more.

Predictive data analytics allows HR teams to identify scope for optimization in areas of productivity, engagement and performance. Not only that, new tools enable HR teams to implement initiatives that boost performance. HR teams can add a layer of analysis to fine-tune processes to perfection with the continued mapping of these measures.

Final word

To put it simply, the confluence of HR and tech has created an exciting outlook for the function. While the pandemic may have left many repercussions in its wake, it has also exposed HR leaders to the potential of human resources technology to change the face of HR. From being a purely administrative function, HR will acquire a strategic advantage with the help of the latest technology in the future. Being open to solving challenges with the help of HR tech will prove crucial for forward-looking organizations in adopting upcoming technologies.

Frequently Asked Questions

How does cloud computing help maintain data security?

Data security features today are cutting edge and the cloud is no exception. Cloud solution providers today offer comprehensive data integrity that follows global compliance regulations as well. In addition, automation and self-service can further eliminate data manipulation and increase compliance with high-security benchmarks.

In what HR functions can data analytics be implemented?

Today’s human resources software offers data analytics and reporting across the board. Most HRIS functions offer data collection across recruitment, payroll and retention functions. However, with the rise of employee engagement and recognition, modern HR software solutions can now map and analyze data for workforce management.

How to improve adoption of new technologies within the organization?

A training program should help orient your employees to adopt new systems into their daily work. Ensure that HR teams develop fast and result-oriented programs that can be tracked for efficiency. It may not be an overnight process, but a dedicated program will enable the smooth implementation of new technologies.

Spotlight

Kforce Inc

Our vision is to be the firm most respected by those we serve. As a 2016 Best of Staffing Award winner, our great people take pride in delivering remarkable quality and service through progressive recruiting strategies and cutting edge technologies.

OTHER ARTICLES
HR Strategy, Employee Experience

Listen and act: how to get employee experience management right

Article | February 17, 2023

As the science behind employee engagement evolves, it’s become clear just how much businesses can gain from a happy and involved workforce. From improved performance, to reduced attrition, increased revenue and even a better customer experience, employee engagement is at the heart of business growth. Given these benefits, it’s no surprise that the role of HR departments is moving beyond just managing people and towards managing experiences.

Read More
HR Practice, HR Strategy

5 Things HR Can Do To Improve Employee Output

Article | August 8, 2022

Employees are companies most valuable asset – Without the talent, knowledge and expertise those employed bring to an organisation, it’s safe to say that the business world would be a very different landscape. Human Resources is often held responsible for owning the employee value strategy, where we’re now embracing tremendous improvements in how the value that employees bring, can be achieved. Here we’ll explore how data analysis, learning & development, employee engagement, 360 feedback and flexibility all offer a significant opportunity to improve employee output within every organisation in 2020.

Read More
Talent Management, HR Strategy, Recruitment & Retention

6 Reasons To Invest In Employee Onboarding In Your Organization

Article | August 2, 2022

You never get a second chance to make a first impression. This holds particularly true when it comes to employee onboarding. It's a new hire's introduction to the organization and the experience has a significant impact on employee retention. Unfortunately, that's why it's rare to see many employees with years of tenure. Research by Future Workplace found that 91% of Millennials expect to stay in a job for less than 3 years. Companies lose 25% of all new employees within the first year, according to SHRM, but almost 70% of employees are more likely to stay with a company for 3 years if they experienced great onboarding.

Read More

Great training is key to creating a positive employee experience

Article | February 10, 2020

You’d love to have employees working for you who are the type that always want to learn new things and grow, right? Right. Engaged employees spend more of their time working to improve their performance through training and development. They are the type of workers every company wants, and they expect their employers to create a positive experience for them by matching their ambition with effective training. For firms and HR professionals trying to create a positive employee experience, it’s essential that your team of in-house trainers is ready to lead the way.

Read More

Spotlight

Kforce Inc

Our vision is to be the firm most respected by those we serve. As a 2016 Best of Staffing Award winner, our great people take pride in delivering remarkable quality and service through progressive recruiting strategies and cutting edge technologies.

Related News

Employee Experience

KellyOCG Introduces Kelly Helix Analytics for Human Cloud Solution

KellyOCG | September 20, 2023

KellyOCG, the consulting and outsourcing arm of Kelly, has unveiled the latest iteration of the Kelly Helix technology platform. This unveiling marks the debut of two groundbreaking solutions: Kelly Helix Analytics and an upgraded Human Cloud solution, both designed to elevate user experiences and deliver enhanced value to clients. Kelly Helix Analytics represents a significant step forward in their Talent Analytics portal's evolution. It leverages cutting-edge technical architecture to deliver real-time, customized data to clients, thereby enhancing the effective management of their external workforce. This innovative solution introduces unparalleled transparency, providing businesses with a comprehensive view of their external workforce, encompassing global rates, performance metrics, and supply chain efficiency. The newfound clarity enables organizations to develop more agile and effective workforce strategies. Kelly Helix Analytics offers the ability to tailor dashboards to specific user groups. This customization ensures the delivery of real-time, relevant, and actionable information to hiring managers and stakeholders. These insights enable better decision-making and increased productivity. Accessing KellyOCG's enhanced Human Cloud solution through Kelly Helix UX streamlines the process of acquiring and managing freelance talent for businesses. This simplified access empowers businesses with the confidence to identify the right individuals for their specific tasks. Streamlining engagement, KellyOCG provides an intuitive platform for businesses to independently search for and engage with freelancers. This simplifies the talent acquisition process, making it more efficient. Tammy Browning, President of KellyOCG, expressed her enthusiasm about the platform's evolution, stating, I am delighted to announce the strategic progression of the Kelly Helix technology platform. When we introduced Kelly Helix UX in 2021, our objective was clear: to enhance our clients' experience and simplify their journey. [Source: Cision PR Newswire] The tool empowers hiring committees to actively participate in talent acquisition by directly searching for and selecting freelancers aligned with their specific needs and criteria. Furthermore, the solution offers enhanced visibility into the freelance workforce, providing businesses with valuable insights. These insights empower decision-makers and optimize resource allocation. As industry leaders in talent management, KellyOCG ensures that clients remain at the forefront of the Human Cloud revolution. This allows organizations to confidently access the global pool of freelancers, supported by our trusted expertise. About KellyOCG KellyOCG connects companies with the talented people they need to fuel and grow their business through a global talent supply chain and workforce solutions, including Managed Service Provider and Recruitment Process Outsourcing. With decades of industry experience and a commitment to technology-driven solutions, KellyOCG serves a global client portfolio across various industries in North America, APAC, and EMEA.

Read More

Workers Compensation

LaborIQ and Paycor Unveil Compensation Solutions Referral Partnership

Paycor | September 18, 2023

LaborIQ, an emerging tech firm specializing in market compensation software, and Paycor, a prominent supplier of human capital management (HCM) software, have unveiled a referral partnership aimed at assisting HR leaders in talent recruitment, management, compensation, and professional development with market-competitive salary insights for all job roles across the US. The strategic referral alliance is geared towards equipping Paycor clients with the most competitive salary recommendations tailored to today's job market demands. Additionally, it offers solutions for employee retention, fostering growth within their organizations. Claudine Zachara, President & COO of LaborIQ, expressed her delight in partnering with Paycor, acknowledging their dominant position in HCM solutions for HR teams. She stated, LaborIQ’s compensation software, together with Paycor, creates an advantage for companies who need today’s answers for reducing pay gaps and hiring. Technology, methodology and speed have significantly evolved in the HR tech space. [Source: BusinessWire] Paycor clients will now enjoy exclusive advantages from LaborIQ's software. This collaboration offers unrestricted access to salary recommendations and pay benchmarks for a vast database of over 20,000 job positions. About LaborIQ LaborIQ is at the forefront of modernizing how US organizations access market-competitive compensation recommendations. The company believes that to compete for talent and achieve success, organizations must have access to unparalleled salary data quality, supported by rigorous labor market research, analysis, and validation. LaborIQ empowers HR teams to expedite hiring processes, reduce turnover, and ensure precise compensation decisions, earning the trust of thousands of users who rely on them for salary recommendations, pay gap closure, and streamlined pay transparency strategies. About Paycor With over three decades of experience, Paycor has established itself as a leader in human capital management. The entity’s HCM platform revolutionizes all facets of people management, encompassing recruitment, onboarding, payroll processing, career development, and talent retention. What truly distinguishes Paycor is its unwavering focus on leaders, stemming from more than 30 years of listening to and collaborating with leadership teams. This extensive experience has equipped Paycor to understand leaders' unique needs, resulting in a unified HR platform with seamless integration capabilities, robust analytics, talent development resources, and adaptable technology tailored to meet specific industry requirements. Trusted by a community of over 30,000 customers, Paycor is the preferred partner for addressing HR challenges and achieving organizational goals.

Read More

Workforce Management

INFINITI HR, Globalization Partner to Expand Solutions Offerings

INFINITI HR | September 11, 2023

INFINITI HR unveiled its expansion into the global market, showcasing its innovative solutions offerings INFINITI HR's international client with nearly 5,000 hotels sought its help in navigating Turkish employment laws to establish a new hub abroad The company has now doubled the employee number in the past 7 years, with a revenue of about $620 million in the last year. INFINITI HR, a prominent human resources outsourcing firm, has expanded its global footprint and solutions offerings through a strategic alliance with Globalization Partners (G-P), a global leader in the employment industry. This partnership marks a significant step in INFINITI HR's international expansion, enabling clients to onboard and manage team members worldwide, access in-country HR expertise, technology, and compliance, and hire and retain talent on a global scale. INFINITI HR is a rapidly growing Professional Employer Organization (PEO) offering a range of human resources, payroll, risk management, and benefits services. G-P's worldwide expansion is powered by the G-P Meridian Suite, a collection of SaaS-based global employment solutions, assisting thousands of customers in swiftly and compliantly building and overseeing teams. The strategic alliance of INFINITI HR with Globalization Partners enhances its service portfolio by providing clients with the capability to manage global workforce challenges seamlessly. The collaboration with Globalization Partners addresses the growing demand among businesses to extend their operations globally while ensuring compliance with local labor laws. The company’s move into the global market aligns with its commitment to meeting the evolving needs of its clients and fueling international growth. This partnership empowers its clients to navigate the complexities of global employment compliance seamlessly. Through this alliance, companies of all sizes can leverage G-P's expertise to establish a presence in new international markets, build global teams efficiently, and ensure compliance with local employment laws. CEO at Infiniti HR, Scott Smrkovski, remarked, We're very pleased that INFINITI HR will add hundreds of new jobs to our community and is now a global PEO, while this partnership offers an immense opportunity to help fuel the growth, enable additional employment, and support the global economy. [Source: Cision PRWeb] INFINITI HR reported annual revenue of about $620 million in the previous year. As an IRS-certified Professional Employer Organization, it has achieved the distinction of being listed nine times on the Inc. 5000. Demonstrating its commitment to facilitating global expansion, INFINITI HR recently supported its first customer in the global hospitality sector, which operates nearly 5,000 hotels, as they embarked on a venture into the Turkish market. This client sought INFINITI HR's expertise in navigating complex employment laws, a testament to the company's capabilities in providing essential guidance for international expansion initiatives. INFINITI HR has entered the global market, allowing its clients to expand their operations and hire talent internationally. The company's first client to utilize this global expansion is a leader in the global hospitality sector, seeking to open a hub in Turkey and benefit from in-country HR support and compliance guidance. With G-P's assistance, INFINITI HR customers can now efficiently explore new international markets and rapidly establish compliant global teams wherever they choose.

Read More

Employee Experience

KellyOCG Introduces Kelly Helix Analytics for Human Cloud Solution

KellyOCG | September 20, 2023

KellyOCG, the consulting and outsourcing arm of Kelly, has unveiled the latest iteration of the Kelly Helix technology platform. This unveiling marks the debut of two groundbreaking solutions: Kelly Helix Analytics and an upgraded Human Cloud solution, both designed to elevate user experiences and deliver enhanced value to clients. Kelly Helix Analytics represents a significant step forward in their Talent Analytics portal's evolution. It leverages cutting-edge technical architecture to deliver real-time, customized data to clients, thereby enhancing the effective management of their external workforce. This innovative solution introduces unparalleled transparency, providing businesses with a comprehensive view of their external workforce, encompassing global rates, performance metrics, and supply chain efficiency. The newfound clarity enables organizations to develop more agile and effective workforce strategies. Kelly Helix Analytics offers the ability to tailor dashboards to specific user groups. This customization ensures the delivery of real-time, relevant, and actionable information to hiring managers and stakeholders. These insights enable better decision-making and increased productivity. Accessing KellyOCG's enhanced Human Cloud solution through Kelly Helix UX streamlines the process of acquiring and managing freelance talent for businesses. This simplified access empowers businesses with the confidence to identify the right individuals for their specific tasks. Streamlining engagement, KellyOCG provides an intuitive platform for businesses to independently search for and engage with freelancers. This simplifies the talent acquisition process, making it more efficient. Tammy Browning, President of KellyOCG, expressed her enthusiasm about the platform's evolution, stating, I am delighted to announce the strategic progression of the Kelly Helix technology platform. When we introduced Kelly Helix UX in 2021, our objective was clear: to enhance our clients' experience and simplify their journey. [Source: Cision PR Newswire] The tool empowers hiring committees to actively participate in talent acquisition by directly searching for and selecting freelancers aligned with their specific needs and criteria. Furthermore, the solution offers enhanced visibility into the freelance workforce, providing businesses with valuable insights. These insights empower decision-makers and optimize resource allocation. As industry leaders in talent management, KellyOCG ensures that clients remain at the forefront of the Human Cloud revolution. This allows organizations to confidently access the global pool of freelancers, supported by our trusted expertise. About KellyOCG KellyOCG connects companies with the talented people they need to fuel and grow their business through a global talent supply chain and workforce solutions, including Managed Service Provider and Recruitment Process Outsourcing. With decades of industry experience and a commitment to technology-driven solutions, KellyOCG serves a global client portfolio across various industries in North America, APAC, and EMEA.

Read More

Workers Compensation

LaborIQ and Paycor Unveil Compensation Solutions Referral Partnership

Paycor | September 18, 2023

LaborIQ, an emerging tech firm specializing in market compensation software, and Paycor, a prominent supplier of human capital management (HCM) software, have unveiled a referral partnership aimed at assisting HR leaders in talent recruitment, management, compensation, and professional development with market-competitive salary insights for all job roles across the US. The strategic referral alliance is geared towards equipping Paycor clients with the most competitive salary recommendations tailored to today's job market demands. Additionally, it offers solutions for employee retention, fostering growth within their organizations. Claudine Zachara, President & COO of LaborIQ, expressed her delight in partnering with Paycor, acknowledging their dominant position in HCM solutions for HR teams. She stated, LaborIQ’s compensation software, together with Paycor, creates an advantage for companies who need today’s answers for reducing pay gaps and hiring. Technology, methodology and speed have significantly evolved in the HR tech space. [Source: BusinessWire] Paycor clients will now enjoy exclusive advantages from LaborIQ's software. This collaboration offers unrestricted access to salary recommendations and pay benchmarks for a vast database of over 20,000 job positions. About LaborIQ LaborIQ is at the forefront of modernizing how US organizations access market-competitive compensation recommendations. The company believes that to compete for talent and achieve success, organizations must have access to unparalleled salary data quality, supported by rigorous labor market research, analysis, and validation. LaborIQ empowers HR teams to expedite hiring processes, reduce turnover, and ensure precise compensation decisions, earning the trust of thousands of users who rely on them for salary recommendations, pay gap closure, and streamlined pay transparency strategies. About Paycor With over three decades of experience, Paycor has established itself as a leader in human capital management. The entity’s HCM platform revolutionizes all facets of people management, encompassing recruitment, onboarding, payroll processing, career development, and talent retention. What truly distinguishes Paycor is its unwavering focus on leaders, stemming from more than 30 years of listening to and collaborating with leadership teams. This extensive experience has equipped Paycor to understand leaders' unique needs, resulting in a unified HR platform with seamless integration capabilities, robust analytics, talent development resources, and adaptable technology tailored to meet specific industry requirements. Trusted by a community of over 30,000 customers, Paycor is the preferred partner for addressing HR challenges and achieving organizational goals.

Read More

Workforce Management

INFINITI HR, Globalization Partner to Expand Solutions Offerings

INFINITI HR | September 11, 2023

INFINITI HR unveiled its expansion into the global market, showcasing its innovative solutions offerings INFINITI HR's international client with nearly 5,000 hotels sought its help in navigating Turkish employment laws to establish a new hub abroad The company has now doubled the employee number in the past 7 years, with a revenue of about $620 million in the last year. INFINITI HR, a prominent human resources outsourcing firm, has expanded its global footprint and solutions offerings through a strategic alliance with Globalization Partners (G-P), a global leader in the employment industry. This partnership marks a significant step in INFINITI HR's international expansion, enabling clients to onboard and manage team members worldwide, access in-country HR expertise, technology, and compliance, and hire and retain talent on a global scale. INFINITI HR is a rapidly growing Professional Employer Organization (PEO) offering a range of human resources, payroll, risk management, and benefits services. G-P's worldwide expansion is powered by the G-P Meridian Suite, a collection of SaaS-based global employment solutions, assisting thousands of customers in swiftly and compliantly building and overseeing teams. The strategic alliance of INFINITI HR with Globalization Partners enhances its service portfolio by providing clients with the capability to manage global workforce challenges seamlessly. The collaboration with Globalization Partners addresses the growing demand among businesses to extend their operations globally while ensuring compliance with local labor laws. The company’s move into the global market aligns with its commitment to meeting the evolving needs of its clients and fueling international growth. This partnership empowers its clients to navigate the complexities of global employment compliance seamlessly. Through this alliance, companies of all sizes can leverage G-P's expertise to establish a presence in new international markets, build global teams efficiently, and ensure compliance with local employment laws. CEO at Infiniti HR, Scott Smrkovski, remarked, We're very pleased that INFINITI HR will add hundreds of new jobs to our community and is now a global PEO, while this partnership offers an immense opportunity to help fuel the growth, enable additional employment, and support the global economy. [Source: Cision PRWeb] INFINITI HR reported annual revenue of about $620 million in the previous year. As an IRS-certified Professional Employer Organization, it has achieved the distinction of being listed nine times on the Inc. 5000. Demonstrating its commitment to facilitating global expansion, INFINITI HR recently supported its first customer in the global hospitality sector, which operates nearly 5,000 hotels, as they embarked on a venture into the Turkish market. This client sought INFINITI HR's expertise in navigating complex employment laws, a testament to the company's capabilities in providing essential guidance for international expansion initiatives. INFINITI HR has entered the global market, allowing its clients to expand their operations and hire talent internationally. The company's first client to utilize this global expansion is a leader in the global hospitality sector, seeking to open a hub in Turkey and benefit from in-country HR support and compliance guidance. With G-P's assistance, INFINITI HR customers can now efficiently explore new international markets and rapidly establish compliant global teams wherever they choose.

Read More

Events