Sunday, September 02, 2018
How Technology is changing Human Resource Management ?
HR Technology is currently undergoing one of the most disruptive periods it has seen in a decade. Investors and investing more and more and seeking the next big thing in breakthrough technology, plunged more than $2 billion into HR tech systems and platforms in 2016. HR tech activity has grown consistently in the last 5 years and at the current rate is expected to grow further more. Majority of the investment growth was spent on integrated human resource management system (HRMS) platform for midsize companies and this shows how volatile the industry is. This shift is seen from cloud to mobile, the explosion in analytics and artificial intelligence, and the emergence of video, social recruiting and wearables in the workplace. What not has changed in the field of HR? Just wait for the day when robots will take interview of humans for recruitment.
Everything is quickly changing. This includes all the technology HR professionals use, the experiences those systems deliver and all the underlying software designs- making many of the traditional HR systems purchased only a decade ago seems out of date. These changes will bring in lot of advancements in the field of HR. It will reshape HR. All the technological changes have affected businesses in more ways than we can count. It has changed the way the organizations worked. Technological advancements have to be on time and when people need it the most. From globalization and organizational adjustments to a workforce clamoring for remote and mobile job opportunities. Human resources had to adapt swiftly. If HR wants to continue to play a critical role in helping businesses anticipate, find faults and manage organizational change, it must have technology at its base and as one of the most important things.
HR advancements are necessary to meet both employee expectations and business requirements. Talent analytics and workplace analysis have become more commonplace, and companies using the data available to them will be far more competitive. As it is millennials are more than half of the current workforce- and predicted to make up 75% by 2020.
Let’s see what has changed in HR due to technology…
1. Get smarter with big data- Technology has given HR professionals access to the power of Big Data. This has impacted the way businesses understand their customers/ consumers, market to new audiences, and communicate with existing and prospective employees. A lot of time consuming duties including paperwork with which HR has always been linked has been barred and changed to technological aspects.
Big Data has been useful in giving HR a fact based view of the current workforce, identifying emerging trends so businesses can adapt. Analytics is a growing field in HR. It has helped employers to find prospective employees because of this. Hiring decisions are being made using analytics so that lesser hunches come in the recruitment process and is real-time.
2. Clean up your office with the cloud- Cloud based systems and Big Data go hand in hand. All the information can be nowadays easily stored in cloud rather than all those tedious papers. Employee information and many other things like tax forms, payroll data, performance reviews, and contact information — can be archived and organized in one secure location. Data interpretation becomes easy when you have all the data in just one place.
3. Many Businesses waiting to make the change- for now- Many companies are still waiting to change/ switch to modern HR systems. But time will make them change also. HR has to look forward to cloud computing, easier storage, better insights, and greater transparency are only the beginning. Technology is a critical business to ignore.
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