Top 5 Tech Trends in Human Resource Management (HRM)
As the world heads into an unknown tomorrow, it is imperative to look into the trends that will shape the future of the HR industry, and its impact on the workplace. If you are looking for an HRM, here are some of the trends that you should look out for to ensure that your solution remains competitive and successful.
Cloud-Based Computing System
Cloud computing provides a vast array of benefits. By using cloud infrastructure, businesses won’t have to spend on maintenance such as hardware, facilities, and utilities. Through cloud systems, you can improve your IT teams through collaboration with cloud experts from your respective service provider.
Moreover, cloud-based systems safeguard your data in the event of unforeseen circumstances by preventing massive data loss in the event of physical damage to the servers. Its advanced security features guarantee the safety and security of your data while making restoring and retrieving data simple and easy.
Besides that, cloud computing offers scalability, this means that as your business grows and your data needs increase, Cloud solutions can efficiently be upgraded allowing for smooth transitions.
Even before Covid-19, the HR industry had predicted that Working From Home (WFH) or working remotely would be the future. The pandemic has expedited this process with most companies having to remodel their existing work policies – boosting the use of mobile technology for better employee engagement.
For employees, some advantages of WFH would be a lower cost of commuting, and flexible work schedules, which more often than not leads to higher productivity levels and job satisfaction, and through mobility, your business operations can still carry on in the possibility of a new wave.
HR Business Insight (BI) Tools for Data Analytics
One noticeable trend is that HR professionals are expanding their range of tools from manual surveys to complex analytic platforms. Analysing large sets of data and identifying trends can be done easily with the use of the right HR platforms. By making data-driven decisions HR leaders can create better work environments and maximize productivity.
The advantage of data analytics is that you can personalise the data to address your specific needs. For instance, tracking the relationship between WFH vs employee performance results in actionable data for HR leaders to make informed decisions.
Artificial Intelligence (AI)
According to research, 50% of workers are currently using some form of AI at the workplace for better efficiency and workflow in their daily operations. Embracing AI reduces time and costs spent on manual repetitive tasks, automates payroll functions, and improves compliance with regulations.
AI also plays a big role today in transforming HRM.
Here are some key features of AI
Produces a low error rate compared to human handling
Automates repetitive HR processes
Accelerates information flow between parties
Instantly generate data insights for strategic decision making
As such, integrating these AI features into HR can be an optimistic approach for modern HR businesses to capitalise on intuitive insights and capabilities it offers to enhance productivity and growth.
Learning and Development Technology
L&D or training technology has become a recent trend in HRM for employees to hone their skill sets. As professionals everywhere continue to upskill, it becomes imperative that organisations continuously develop their employees with L&D programmes.
With e-learning, individuals enjoy the freedom and flexibility to decide their preferred medium and learning platform, be it through mobile virtual classrooms with learning management system (LMS) integration, audio, video presentations, webinars, podcasts, interactive e-courses, gamification, or even in the coming future Virtual/Augmented Reality. (VR/AR)
In conclusion, as we turn the page to 2021, it’s only appropriate to look ahead. 88% of HR leaders say they need to invest in three or more technologies over the next two years (Gartner Report). Many have already embraced these trends, while some are still left behind and unable to accept changes due to lack of knowledge or exposure.
As HR leaders, being knowledgeable with current tech advancements will enhance your business relevancy and help you stay above competitors, as well as drive your HR operational efficiencyand productivity for your organisation.