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Technology and technological developments come and go yet some stay and develop to their peak. Some technologies completely change the course of how things used to operate and HR technology trends has been one of them. HR or human resources is a very important aspect of any company and what matters is the value it adds to the company’s position. Off lately there have been many HR technology trends and we are here to share details on this up-and-thriving trend in HR technology.
The new technologically driven world is adapting and revolutionising on its own. Ever since the pandemic, many industries which were limited to sticking with their old state have now decided to accept what the world had to offer.
Attrition rates have increased multifold and this has been perceived as a problem, people have been resigning from their jobs at alarming rates these days. Many employees quit due to multiple reasons and this causes the loss of many resources and money. This issue has become a world over problem where people are quitting for either a better job profile, higher salary, freelance jobs or even to start their own business. But the question is how does a company retain the workforce?
HR – Thriving or Struggling?
The answer to balance attrition is good human resource management. Human resource individuals have always played a huge role in managing the resources of the company. However, over time the companies became negligible about hiring these individuals and thus faced attrition. The HR department is what creates the virtual network community of every business and one might make the business thrive but that perspires to make the relations work is a healthy HR management.
The key to understanding this practice is to focus not just on HR but on HR technology as well. The introduction of new and improved HR technology is exactly what every company needs right now and should adopt these technologies asap!
Here are some technologies that are top of the trend at the moment:
AI-Powered Automation: Artificial Intelligence has its own way of improving different departments in every Job. In terms of HR technology, AI gives the power to access the possible ability of the HR department. AI can be a great assistance in terms of simplifying recruitment by HR, it can select the best-fit resumes for your required profile and quickly streamline the process.
Additionally, you can use the bot's assistance to do an immediate onboarding of your new employees, it generates emails, and documents shared with the recruit along with the possibility of e-signatures and more. AI will act as your assistant HR and assures that the work is done much faster and more efficiently within minutes.
Intelligence and Analytics in Processing: How does one manage too much data that keeps growing each day? Well, the answer is technologically advanced analytic processing. The technology enables simplifying and managing your long-term data in place and also timely keep updating it to make sure that your information never goes out of site. Not only this the technology has an intelligence system that gives you the power to analyse the data results, you can check any trend that you need with a simple click.
For example, you need to know the type of clients your company has attained under a certain domain in a certain period. Now think how much manpower this work would need if done by the person while this is done by the technical assistance within minutes.
Intelligently Powered Chatbots: HR’s role is to create healthy relations within and outside the company. They are the key person of contact and every call first goes to them. Now imagine the kind of workforce you would need to manage multiple services, clients, and internal and other calls every day, the answer is A LOT. This is where chatbots come into the picture. Chatbots act as a great source of balance between the kind of calls that go to HR. Chatbots can work on answering basic FAQs, respond to or process requests from people willing to apply, even process leave applications for approval and more.
Cloud HR: This technology is the one that thrived during the rise of the pandemic and now many companies have decided to permanently switch to them. Cloud HR is an HR system on a cloud, it helps the HR to manage all the flexible workers. Many companies now prefer working with bench resources. The easiest way to manage the presence, check deadline completion, process any update, take regular feedback and more becomes simplified even when the office is completely working remotely and employees are spread in different parts of the world. It helps keep the business network community together in a unit and makes sure that the presence is there.
Is HR Technology here to stay?
There are trends and then there are changes, the HR technology is a revolutionary change that we don’t see leaving the structure anytime soon. Mainly because the high rates of attrition have made people realise how important it had been to invest in a decent HR management system. Even though some larger companies have huge HR departments, some tasks are still too slow to be completed right away by one or two persons. Companies like Gusto, Zenefits and Oracle HR provide the best HR tech services in the market these days
And the hiring trend in the HR department is not going to settle or reduce due to these technologies, however, the world might start preferring people who have the right knowledge and understanding of up-and-coming tech in the field of HR.
So if you are someone looking for an HR recruitment job, focus on gaining more insight into the trend and get ahead of your competitors. If you are someone hiring an HR professional, make sure you find the right person who knows their way through the complexities of the new technology. Additionally, it is time to prioritise investing in the new HR tech as well so, it is time to manage your company’s budget for the coming financial year.
