Article | May 11, 2020
Seven out of ten times, the first budget to be cut when budget freezes happen is the L&D budget. It's not because companies don't value learning. It's because they lack enough evidence to support the request.
Of course, your smile sheets can help you make a better argument, but they are not the ultimate indicators of your employee's performance and productivity. And now, with remote work claiming the center stage, the room for guesswork has narrowed. Organizations are relying on their L&D teams to build accurate learning strategies that ensure upskilling their employees. But the problem here is not the uncertainty of times. It's our unpreparedness.
For More Information:
Article | May 11, 2020
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.
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.
"name": "How does cloud computing help maintain data security?",
"text": "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."
"name": "In what HR functions can data analytics be implemented?",
"text": "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."
"name": "How to improve adoption of new technologies within the organization?",
"text": "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."
Article | May 11, 2020
Organizations around the world are settling into a new normal. The pandemic shed new light on human resources and the future of work. Now that your organization is preparing for the return to work, pulling off both, resuming pre-pandemic HR best practices, and revisiting the ways of managing employee learning and wellness will be paramount. One way to do this is by taking advantage of technologies that emerged as all-essential in these times.
In addition, with much of your workforce preferring staying at home, balancing employee safety and cultivating a culture of trust and accountability will need you to reimagine HR and the technologies you use.
As your organization navigates this transition, here are the most exciting and promising new trends in HR management that you should keep an eye out for in 2022.
Making remote work mainstream
Gone are the days when office work was the primary workplace policy. The most significant change for human resource leaders has been leading the transition to remote work. It highlighted the lack of remote-work readiness and remains the number one goal for HR strategy in 2022.
All over the world, organizations are discovering the advantages and pitfalls of a virtual workforce. Unfortunately, plugging the gap in managing remote employees and leveraging the benefits it offers has become an overnight HR challenge.
While not every organization must go fully remote as the big “return to work” begins, it is an opportunity to develop the hybrid workplace model. Tech giants like Twitter, Shopify, Quora, Basecamp and many more have plans to become remote permanently while allowing employees to come to the office. This is a testimony to the fact that working from home is here to stay for longer.
Empowering employees with employee engagement and experience
Employee experience followed by solid engagement has been forced to go virtual. Gone are the days when interviewing, recruiting, and onboarding employees used to be an in-person experience. The challenge is to integrate new employees virtually while also providing them more than just a peek into the company culture.
Employee engagement needs an overhaul as opportunities for social interaction and partnerships are isolated to online systems. HR will need to find new ways to nurture collaboration and team building.
Aspects such as mental health, work-life balance and peer recognition are crucial for all employees’ optimum engagement. As a result, organizations will continue ideating new ways to normalize and incentivize official interactions online.
Integrating data analytics into HR tech
Data has been an integral HR technology trend for years now. However, leveraging people analytics to drive decision-making remains an important action item on the list of HR leaders worldwide.
From recruiting the right talent to employee turnover, people analytic tools help organizations track crucial data throughout the employee journey. It has enabled organizations to ask the right questions and apply the insights to create actionable policies and guide decisions.
Analytics has also helped organizations uncover a number of issues with current HR processes and allowed them to refine their recruitment practices.
Making recruitment future-ready
Real-world recruitment journeys are no longer the norm. If organizations must keep up with the pace of new developments, HR leaders must reimagine new ways of recruitment.
Recruitment technologies must encompass a complete virtual workflow, from scouting for talent to accepting applications, from onboarding employees to training and retaining them.
Emphasis on learning and training
Upskilling has been a substantial piece in the puzzle of employee training and development. With the demand for upskilling growing from 14% in 2019 to 38% in 2020, its importance cannot be understated, especially now.
New technologies like Virtual Reality (VR) and Augmented Reality (AR) are being adopted to rise to the challenge of training remotely. Creating engaging training programs that quickly orient and onboard employees will require a renewed focus. For instance. AR is extensively used to safely train employees in the retail industry, leveraging both cost and time.
Cultivating egalitarian work-places
Diversity and inclusion are known drivers of business revenues. A diverse workforce leads to innovation and improves employee engagement. Inclusion also boosts employee morale and with wellness and employee safety being at the heart of the new work landscape, inclusion and diversity insights have become all the more important.
In a recent interview, Rashim Mogha, Founder, eWow and a passionate women in tech evangelist, said, regarding women in workplaces,
It’s important that an organization builds a culture of inclusion where the ideas presented by the women leaders are encouraged and their achievements are acknowledged. It is also critical that organizations focus on building a pipeline of women leaders at entry and middle management level so that we can create role models for the future.
Recognizing the need for inclusion during these times is a significant HR best practice that cannot be ignored if you want to create a truly ready workplace to take on the future.
Shaping your HR strategy for 2022
To summarize, HR management trends signal the cusp of massive transformation for businesses all over the world. Elements such as mental health, inclusion, diversity, HR tech, engagement are at the forefront of new challenges. Make data and technology your primary vehicles to navigate this change today and in the future.
Frequently Asked Questions
What training technologies are the forerunners in the post-pandemic HR training ecosystem?
Learning Management Systems (LMS) integrated with the rest of your system’s training and workshop modules are your best bet. Platforms like GoSkills, Absorb, Bridge, etc. Help you train talent and manage their learning journeys better.
How can Artificial Intelligence (AI) and Machine Learning (ML) help in the recruitment process?
AI can be beneficial in training applicant software systems to aid HR in recruiting faster. AI tools can also help organize core HR practices like employee data management, payroll and performance management.
"name": "What training technologies are the forerunners in the post-pandemic HR training ecosystem?",
"text": "Learning Management Systems (LMS) integrated with the rest of your system’s training and workshop modules are your best bet. Platforms like GoSkills, Absorb, Bridge, etc. Help you train talent and manage their learning journeys better."
"name": "How can Artificial Intelligence (AI) and Machine Learning (ML) help in the recruitment process?",
"text": "AI can be beneficial in training applicant software systems to aid HR in recruiting faster. AI tools can also help organize core HR practices like employee data management, payroll and performance management."
Article | May 11, 2020
If you’re interested in tech, you’ve likely heard about the race to develop quantum computers. These systems compute via “qubits,” which exist not only as ones and zeros (as you find in traditional processors) but also in an in-between state known as “superposition.” For tasks such as cryptography, qubits and superposition would allow a quantum computer to analyze every potential solution simultaneously, making such systems much faster than conventional computers. Microsoft, Google, IBM, and other firms are all throwing tons of resources into quantum-computing research, hoping for a breakthrough that will make them a leader in this nascent industry.