Over the years, the infrastructure of HR has changed massively and continues to evolve. The organizations have adopted digitization and started working in a modern way. More and more organizations are shifting to cloud-based technology every day; companies are investing in AI-based tools to change the perspective of the talent acquisition process. Multinational organizations like Google, Facebook, IBM are on the same track, which means HR technology is a mainstream trend. A study states, “Through the automation of processes, HR technology has advanced to create an era of HR professionals, who view their roles, not as mere administrators, but strategic enablers for key organizational decisions.”
HR technology isn't just limited to HR but widens to people related tasks like payroll, recruitment, staffing which are the driving forces for HR tech. HR tech also reads into new sets of issues like productivity, inclusion, diversity, branding, etc, which are the factors that will revolutionalize the HR landscape through the tech.
Though the HR department will keep on evolving, here are some fundamental changes that were observed in 2019:
AR/VR training: According to Deloitte, VR is a method of training that can break the trade-off of learning and provide practical training in a safe and cost-effective environment. In 2019, the corporates will utilize the AR-VR training method and apply it for a better understanding of the employees. Currently, large organizations have periodic training programs with the Human Resource Management System (HRMS) and Employee Self-Service (ESS), which were powerful softwares at the time. However, with VR technology, organizations will be capable of conducting conferences and seminars for corporate wellness for the benefit of both the employee and the organization. VR will take the training experience to the next level.
Big Data & Data Analytics: Another insight states, "The use of workforce data to analyze, predict, and improve performance has exploded in practice and importance over the last few years, with more growth on the horizon." Big data and analytics will play an essential role in the growth of employees and organizations. Presently, to understand the growth of a company, centralized HRMS data is run through several analytical tools. With big data and data analytics, HR professionals can ensure compliance and avoid risk.
Behavior Analysis: Today, the HRs uses several AI tools to recognize facial expressions and voice during an interview. They analyze the job seeker's behavior to hire the best suitable candidate for the job. Experts encourage the HR landscape to embrace behavioral insights. It talks about three factors that agree with the main themes of behavioral economics, namely; bounded rationality, willpower, and self-interest.
AI & ML: Artificial Intelligence and Machine Learning are known to streamline the internal functions of a company and hence improve the operations. AI is expected to improve employee experience, as well as efficiently, manage the employee lifecycle. Further, in 2019, we will witness the advancement in chatbots assistance and ESS portals. A study conducted by EY concludes that AI has a strong potential to improve employee productivity and help HR consultants to boost employee performance.
Employer Branding and Recruitment Market: An organization needs to create new employer branding strategies and execute them through the technology-based recruitment market. 2019 will see how smart HRMS will automate candidate interactions, and through the Applicant Tracking System (ATS), it will schedule the recruitment process. The enhanced employer branding will attract high-grade candidates, which will further create the brand image of the organization. For example, Heineken created a series of unconventional web interviews to highlight their employee experience, which helped them set the company apart.
Videos for Hiring: Since the job market can be highly competitive, HR professionals try and find new creative ways of locating candidates. Visual storytelling, in this case, is found to be hugely influential. Video is one such tool that is emerging to address this challenge by promising a more captivating candidate experience. A study states that if a job requirement is posted with a video, the view shoot up by 12% and the applicant number were observed to increase by 34%.
Intelligent Self-Service Tool: In 2019, automated self-service is expected to reduce dependencies on HR for everyday tasks like holiday management, leaves, and attendance. As a result, this tech will increase employee productivity, giving them the ability to complete and manage their tasks. Further, it will improve the internal and external stakeholders experience, which is the core business objective of any organization. Intelligent self-service solutions comprise several different technologies, which include chatbots, online communities, Apps, etc.
An organization for its growth implements HR technology trends. With several technologies available, it becomes the organization's decision to which trends they want to apply in order to grow. Leveraging these new-age technologies has proved beneficial for several companies like Facebook, Google, etc. The world of recruitment has adopted digitization; perhaps it is the solution for other people-related issues that are much more than just recruiting.