Do you remember Kodak or Atlas? These were pioneers in their respective industries. Unfortunately, these companies are now defunct. Reason? In the age of digitalization, these companies were rendered obsolete as they couldn’t keep up with the technology. Other companies could be on the brink of being obsolete too unless they invest in technology.
Among other departments, human resources can benefit hugely from technology. HR tech, specifically, has the potential to transform an entire organization. Consequently, organizations are increasingly approaching technology to make their workplace better, improve the work environment, facilitate employee services, promote inclusivity and diversity, and more.
Global enterprises and small and medium –based businesses are catching on fast to technology. The adoption of SAAS (software-as-a-service), cloud, blockchain, artificial intelligence in all spheres of human resources management is accelerating. Recruitment, health, and wellness, insurance, and benefits, etc. are in advanced stages of technology deployment. According to a survey report conducted by the MIT Technology Review, 60 percent of organizations are in the later stages of cloud deployment.
Benefits of HR tech trends
Here are a few ways in which HR technology is helping companies.
1. Transformation: The use of technology in workplaces is creating new positions where people require advance digital skills, improving candidate research and office management.
2. Improve efficiency and productivity: Use of cloud-based systems speed up task completion, improve collaboration, and increase productivity. ATS (Applicant tracking systems), HRIS (Human Resource Information systems), etc. save the time of HR professionals by cutting the time down.
3. Reduce cost: Deployment of technology to carry out various HR functions speeds up operations and reduce human effort, doing more in less, thereby considerably reducing cost.
In addition to the above benefits, HR technology offers the following advantages.
1. Higher accessibility: Everyone can access data from anywhere as long as the organization allows it.
2. Fast and error-free operations: Chances of mistakes are lesser and administration can respond quicker to tasks. In case of emergency, AI-powered systems can respond faster than human responses could ever be.
3. Competitive advantage: Personalized and bespoke technology is advantageous to companies.
Finding the fitting HR technology
The human resource landscape is rife with technology. Inevitably, there’s no size-fits-all approach to find the best technology that can help companies find fitting technology. Leaders need to take a proactive approach to find the technology that suits their purpose.
CHROs must take a proactive approach to research technology, uncover employee thoughts, and get their buy-in. Training and development programs for employees should be put in place to equip employees with the right skills to utilize technology. Awareness about the benefits of the technology – better communication, accountability, secure files, etc. — should be propagated to employees. Routine feedback should be sought to make use of technology easier and efficient among employees.
Let employees see what technology can do for them. Further, the progress made over time, improvements in plans, and results should be communicated to motivate employees to make them realize the benefits of the technology.
The following tips help in the transition to technology.
- Communicate plans and benefits before purchasing and implementing
- Keep the training simple and the tool easy to use
- Get buy-in from opinion leaders
- Prepare and implement a staggered, layered communication plan
- Seek feedback and allow for flexibility
Technology is paving way for the advancement of companies and offers a gamut of benefits. CHROs and HR leaders must take note and see how technology fits in their operations. It requires considerable effort from the HR leader’s end – researching, educating employees, and setting up knowledge transfer. In the end, however, it is immensely beneficial.