Statistics has revealed that organizations spend billions of naira globally in the HR tech industry. This simply symbolizes that the industry would experience continuous growth and evolution in 2020, as new talents are being released in the market. With these amazing increased demands, comes an onslaught of new tech products in the marketplace. This, however, calls for today’s employers to be technologically driven enough to filter through the array of options and scout the right technologies to improve HR functions in their workplaces. HR tech, in simple terms, comprises of various software applications that help to enhance HR processes within the organization. The HR department uses technology to execute their tasks ranging from employee management to employee payroll to talent acquisition and so on. In other words, the ultimate goal of HR tech is to cut cost, improve outcomes, boost employee engagement and streamline HR practices. Nevertheless, in order to consider which HR technologies are suitable for your business, it’s essential to understand emerging trends and how these trends can enhance productivity. Below are the top 5 HR tech trends of 2020.
1. Cloud migration
For several years, organizations have relied solely on iCloud in transferring data management to the cloud. Nowadays, this process involves the transfer of HR data to the cloud. As the cloud security continues to improve, as well as the increased demand to collect, store and track enormous data; it is common sense that more and more organizations - or rather employers - would migrate to the cloud. This step helps HR personnel avoid the need to store data in-house.
2. Data Privacy
As more and more data privacy laws are being passed, HR technology solutions will play a major role in helping to create a balance between data privacy and employee trust. Most employees’ expectations in the 21st century are that they would be treated internally like customers; and that includes how their personal data is handled. To a certain level, HR can ensure that the policies and technology systems being used will provide the right level of transparency, as well as the required level of protection for employee data.
3. AI and machine learning
For decades, organizations have been collecting data in the old-fashioned way. Presently, the introduction of AI (Artificial Intelligence) and ML (Machine Learning) have made it possible for employers to critically analyze these data and use them to make valid and meaningful changes in the workplace. More so, AI and ML have gone further by providing push prompts to improve productivity across board. For instance, employees may receive notifications that would encourage them to take a quick nap after hours of uninterrupted work. Or, supervisors may receive push prompts recommending various training programs for their teams.
4. Employee recognition
Employee relation is of importance both to the employee and the employer in every organization. In other words, employees want real-time recognition. They enjoy awards and having their efforts noticed. This could best be achieved through the use of HR tech. Furthermore, an advanced employee recognition system would help to ease the task of the HR department by notifying about birthdays, anniversaries and other special events. Again, the system can monitor employee recognition activities and overall program performance.
5. Dedicated HR tech roles
The increase in the emergence of HR technologies has pushed employers to onboard HR staff with IT experience. In fact, many big organizations have created a dedicated HRIT (Human Resources Information Technology) department within the company. The emergence of these advanced skills in the HR department will also intensify in the next few years. Furthermore, employers ought to ensure that an IT-knowledgeable staff is a key member of the HR team. This adoption would ensure that your organization isn’t just integrating any type of technology into the HR processes, but investing in the required type of HR tech. One of such HR technologies that has made waves in this part of the world is OutsourceHR. OutsourceHR is an HR solution that holistically caters for staff journey right from the day they first walk in through your door. It helps to automate processes and sort CVs from the moment they are received. It then sorts successful applicants into the interview pool, and helps to automate the onboarding processes. Beyond these, OutsourceHR has features like staff database management, payroll, leave management, and caters for various levels of the staff journey right up until disengagement.