For long, the human resource, considered as a reactionary field rather than a strategic one; the one associated with an administrative task like scanning and collating resumes, tracking essential attendance data and conducting exit interviews. The disruption caused by technology has seen a paradigm shift in the way HR has evolved and become one of the relevant strategic cogs in the overall business framework wheel. The businesses are now combining the synergy of human resources and the capabilities of HR technology to create an intelligent enterprise, adept in handling the everchanging HR landscape.
So, what are these technology trends which has taken the HR landscape by storm?
- AI capabilities allow the HR team to create exact job descriptions strewed with keywords to attract the desired applicant. The AI-powered software can analyze hundreds of job network sites by scouring through candidate’s online presence via social media platform and predict how likely are they to accept the role if offered to them. This allows HR professionals to tap the right resource and enhance the success rate of time to hire.
- The other HR trend which has gained traction is the rise of freelancing or on-demand hiring. This has resulted in lowering cost and creating an ecosystem for talent where the traditional career path models phased out, replacing them with temporary jobs focused on skill.
- The smart chatbots, driven by AI, and powered by neural networks, uses natural language processing to have a human-like conversation, without the need to have “actual” human answering frequently asked questions. The benefit of chatbots is their 24/7 availability, at the convenience of the user and it’s “on demand” accessibility.
- HR analytics covers area such as performance analytics, strategic workforce analytics, and people management analytics. As the name suggests they deal with hiring the right people, training the workforce with skills required in the present and the future and promoting the right people within the organization. Running machine learning algorithms on churn data can unravel churn patterns, which when processed by HR analytics tool provide actionable insights into retention strategies and allows the HR personnel to manage churn proactively.
- Talent acquisition improved through gamification by turning a recruitment process into a gamified experience. The top referrers can be rewarded by “referrer of the year” or month badge along with a referral bonus. This would relieve the pressure from the HR department and let employee play a more active part in talent acquisition.
- Last but not least, HR integration with the cloud (SaaS) and mobile-enabled HR solutions have increased employee engagement and shortened the employee hiring lifecycle. Mobile recruitment has the capacity to reach to a wider audience through online job postings and easy to complete online job applications
Technology is very dynamic and accelerating at a very high speed. It’s imperative that to drive change and keep abreast with the evolving HR trends on a global scale, investment in HR technology is a must. Clearly, without a proper HR technology strategy, a business risks losing out to a competitor, with long-term ramifications to its brand image.