We can see a shift away from technology that merely supports payroll to other areas like learning, recruitment, knowledge management, etc.
In the field of operational excellence, technology plays a big part in providing HR process assessment tools and end-to-end process automation. Technology is now used to build HR repositories. This could imply aspects like HR shared services and HRO platforms that enable globally-competitive HR. Another trend is the move towards innovation in the areas of talent management, competency management and automating processes relating to HR scorecards. Among other emerging trends are employee self service tools, business intelligence (metrics and dashboards), e-Learning, strategic HR with technology, blogs, wikis, intranets, communication, knowledge sharing and documentation as well as social networking.
A lot of technology is built in-house to meet specific organizational needs like HR automation, employee self service, etc. Larger organizations adopt various ERP or HRIS tools. Vendors now provide solutions to make technology available for specific purposes like automation, recruitment, etc. Organizations also opt for one-time software installations or subscriptions.
Organizations choose vendors based on several aspects such as HR technology, strategy, required system functionality, work processes to be automated, subscription or software, budgetary constraints and the current state of technology within the firm. ROI is calculated on the basis of hard costs (for example, reduction of costs through automation) and soft costs (increase in efficiency, accuracy, process standardization, etc.). The tactical benefits range from better data management and improved compliance to strategic benefits like reduction in hiring costs and enhanced employee experience.