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Developing technologies have led to a sea change in how we execute HR functions. Like every other area of business HR professionals are considering how technology can help solve certain challenges and simplify processes that were tedious and time-consuming. Before we learn more about the latest HR tech news, let’s understand the main functions that human resources are responsible for in a modern organization.
Human resources technology (HR technology) is an umbrella term for software and related gear used to automate the human resources function in enterprises. Employee payroll and compensation, talent acquisition and management, workforce analytics, performance management, and benefits administration are all part of it.
HR technology, sometimes known as HR tech, has advanced significantly in recent years, with big employers all over the world implementing basic HR technology solutions from enterprise software firms like Oracle and SAP, as well as specialised HR tech providers. Many of these organisations are transitioning from on-premises systems to cloud platforms, including SaaS, to join the second generation of HR technology. Meanwhile, small and midsized businesses are increasingly turning to SaaS platforms or cloud-based HR technology outsourcing firms to automate their human resource processes. Companies can keep up with the latest trends in this industry by following HR tech news.
Based on the latest HR tech news, there are 5 main functions popularly covered in HR tech news:
In this HR technology news, all activities required to find and hire the right resources for a business. Resources may be full-time or part-time employees or contractors. This area of HR also includes all activities that are conducted during the onboarding and exit of an employee. For example: creating exit documents, terminating contracts, conducting orientation sessions, etc.
The HR department is also responsible for ensuring new employees receive the proper training required to perform their job roles effectively. All businesses must invest in the continuous development of their human resources so that attrition remains low and they can get more value from employees through their life cycle. It is HR’s responsibility to create developmental programs and organize advanced training sessions for existing employees.
Payroll & Compensation: One of the most important functions as per this HR technology news is processing the organization’s payroll and ensuring all employees receive their due compensation. Not getting paid on time or getting paid incorrectly can lead to strong negative reactions from employees.
A function of HR that has come into strong focus over the past year is employee health and safety. The HR department is responsible for ensuring that the organization is meeting all the required health and safety guidelines. When clear guidelines are not available, HR must figure out how to keep business operations going without compromising on the health and safety of employees.
Cloud-based software and tools, artificial intelligence, automation, etc are all developments in technology that have changed the way businesses operate. The global pandemic and increase in remote working have sped up the adoption of these new technologies by businesses. Below are some HR tech trends that have had a significant impact on HR functions:
Even though vaccinations around the world are increasing, remote working is here to stay, according to the latest HR technology news. Both businesses and employees have recognized the significant benefits of being able to work from anywhere. Companies like Amazon, Dropbox, and Facebook have all announced plans to make remote working a permanent part of their culture. Facebook plans to let 50% of its employees work remotely forever.
To manage remote employees effectively an increasing number of businesses are turning to cloud-based SaaS solutions. These tools allow businesses to manage the entire employee life cycle remotely, from onboarding to exit. SaaS solutions also help ensure proper compliance and reduce the chance of human error in key functions like payroll and compensation. Instead of manually checking time card data and referring to multiple spreadsheets, SaaS tools allow the HR department to process payroll more efficiently. You can learn more about these tools on Whitepapers Online by subscribing to our HR tech newsletter.
Based on the latest HR technology articles, an increasing number of businesses are making use of AI to find and recruit the right talent. According to a study by Sage People 24% of companies are using AI-powered software in their recruitment processes. Artificial intelligence can be used to automate resume screening and to schedule interviews with top candidates. Some companies are even making use of emotion recognition technology during video interviews to identify how passionate a candidate is and whether they will be the right fit for the organization.
Though there are still some concerns about how and when artificial intelligence should be used, it is clear that an increasing number of businesses will be implementing the technology in their talent management and recruitment process.
Remote working posed a challenge for implementing learning and development programs, particularly at organizations that relied on outdated infrastructure and did not have the tools in place to execute their programs for remote employees. As more organizations commit to long-term remote working, an employee’s location is becoming less important. This means that resources can be from and work from anywhere. Hence, HR departments need the right tools and software in order to deliver training programs to remote employees. Learning via video content, gamification, and interactive modules is an HR tech trend that will continue to grow in 2021. Hence an increasing number of businesses are subscribing to cloud-based learning and development tools. You can learn more about these tools on Whitepapers Online by subscribing to our HR tech newsletter and by reading our HR technology articles.
The developments in HR tech change the way businesses operate and can have a significant impact on your work and your business. Subscribe to the Whitepapers.online HR tech newsletter and find out about the latest HR technology news as it happens. If you want more information about the industry, browse through our HR whitepapers, or read the latest martech news, fintech news, and IT news only on Whitepapers Online.
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