The human resource industry has rapidly been moving toward tech. HR technology collected around $2 billion in 2015 (according to this CB Insights research) and this is likely to increase as more companies are seeing the benefits of dedicated HR software. Web-based platforms are proving to be far more effective than building your own on-premise system.
Here are 5 key ways technological progress is changing the HR industry.
1. Transition to Cloud
Today, there are over 150 million employees using cloud-based HR systems around the world. The cloud has allowed for mobility and flexibility so that you can hire, manage, organize, and communicate with employees from virtually anywhere. The cloud also provides more ease-of-use, standardization. All of this makes your company more attractive to the best talent, who seek innovative companies. A transition to cloud-based services means reducing costs, increasing your competitive edge, and ensuring your important employee data is never lost.
2. Analytics
Tech makes HR smarter. With data science, machine learning, and visualization HR Tech can provide useful insights through analytics. These analytics are like stories that make it easy to make smart decisions instead of gut decisions. Metrics help communicate critical information with data that is accurate to the minute or even second. This allows leaders and managers better engage and grow their team. Analytics can also help companies build a truly diverse and productive company culture.
3. Mobility
The ability to access work from a mobile device makes for a more productive work environment. Today, most people do not leave their house without a mobile device; many people prefer to work remotely. The best talent is often not in your geographic area and may even prioritize flexible work options. Thus, the best companies are doing whatever they can to make it easier to work from anywhere. Mobility keeps you competitive, diverse, and relevant.
4. Online On-boarding
The employee on-boarding process always seems to be a hassle with all the paperwork that needs to be signed and documented to get a new hire settled. It is difficult and time consuming to make sure everything gets done correctly. Allowing a new hire to complete the process on the web securely simplifies and centralizes everything. Hence, HR tech makes the entire on-boarding process less of a hassle, and more of an asset. Make a new hire’s first day engaging while at the same time streamlining the hiring manager’s duties with little to no paperwork or redundant processes.
5. Integration
When buying or building software, one of the main concerns is whether the solution will actually add as much value as the cost demands. Is it simple? Will the change create a barrier with users? Will it actually be used? Therefore, the best software is that which makes all these concerns irrelevant. The most in-demand HR tech is of course SaaS-based platforms. Full-service solutions that handle everything, allowing you to focus on your business while still having a highly efficient HR system.
Technology shifts HR from paper and guesswork to simple tools and smart, data-backed decisions. HR Tech helps build strong teams by dramatically reducing the risk of bad hires. The HR industry today is one in which holds its own solutions and assets rather than being yet another sinkhole for time and money. Technology makes an HR department engaging, transparent, and efficient.
Sign-up here to download our e-book and learn more about our process.
Join our case study and win a chance for a free 6-month trial.
Connect with us on Twitter, Facebook, LinkedIn, and Medium to let us know your thoughts and questions.
