“Appraisal”,”Salary”,”interview” etc these might be the few words that comes to mind when one hears the words HR.”Speed”,”accuracy”,”analysis” these are words which we can relate with Technology now what if we combine both HR and Technology together? BOOOOM what we get is called HRTECH.
Few years back HR might have been just related to recruiting, vetting, selecting, hiring, on boarding, training, promoting, paying, and firing employees now it has become more than just that.Companies are competing to attract the best talent and keep the best employees in an increasingly competitive labor market with widening skill gaps.
To solve this, the HR industry is looking up to technology to be the savior.Here are few HR tech trends in HR industry that are here to change the way HR works:
- The robotic process automation (or RPA technology): This process is looking to compress time-consuming processes like employee on boarding, so that new employees can spend more time on the job function than with the HR department. RPA technology is targeting at the 93 percent of HR executives time repetitive tasks like creating a new employee record in the employee database, gathering employee documentation and adding a new employee in the payroll system.
- HR analytics: Data has attained marked significance in the last few years. HR Tech will completely transform the HR role into a data-driven function. This applies to everything right from hiring candidates by leveraging talent acquisition analytics to giving promotions and from employee management to employee performance. HR Tech aims to improve company productivity by studying data about existing and potential employees.
- Talent Management:Companies are using HR Tech to provide clarity to employees on how their contributions impact the business. This results in memorable employee experiences that drive recruiting and retention.However, the most important change that is expected in this domain is that of performance ratings.
- Payroll Management:Technology will continue to have a huge impact on payroll management. Basic calculations and processes like tax deduction and benefits will be completely automated, leaving no room for error.
- Employee wellness:Wellness traditionally meant attending to the health of employees via step programs, exercise plans, and better eating habits. However, with the evolution of HR Tech, employers are putting added focus on addressing the emotional, physical, financial and professional needs of employees.
With all these and many more trends common or in the line of becoming common in HR what is the status of Indian firms?
If the current status of the HR tech is to be considered, the scenario looks pretty decent with further scopes of proliferation and rapid growth. The same is still a work in progress and might take up quite a decent amount of time before we are finally rewarded with the results that the officials and companies are expecting.If the current status of the HR tech is to be considered, the scenario looks pretty decent with further scopes of proliferation and rapid growth. The same is still a work in progress and might take up quite a decent amount of time before we are finally rewarded with the results that the officials and companies are expecting.
The founders of an online gaming platform”Purple Squirrel” had an struggle to hire the right kind of people using techniques psychometric tests which can be faked easily, are extremely boring to complete, and extremely outdated in terms of technology. That’s where the genesis of their second startup started. Both are avid gamer and while brainstorming the duo realized that gaming is an interesting medium to conduct assessments. The engagement value is high and people are likely to let their guard down while gaming. So one could collect a lot of data points as opposed to questionnaires. That’s when the first prototype of Talent Litmus, a platform for game-based assessments and learning, was conceptualized in 2016.
The duo worked with psychologists to build it and ran it through rigorous rounds of testing to ensure it is scientifically reliable and valid. The proprietary algorithm grounded in psychology and data sciences combined with highly-engaging game mechanics, enables them to create powerful tools for organizations enabling an in-depth analysis of an individual’s role fit, team management capabilities and motivations. Growing further, the startup is also building engaging games for learning and corporate training, helping people understand skills like managerial ability, customer orientation, and collaboration.
When companies deploy Talent Litmus, they get access to the dashboard where they set up assessments and send up invites to various candidates to play the games on their phones. Candidates play these games on their phones, which help to map skills like problem-solving, critical thinking, and focused attention, among others. The 40-minute game is able to collect a lot of data about the individual on a wide variety of behavioral aspects.
If you look after your employees, they’ll look after your customers .
These were the employer side of the situation but how does HR -Tech helps the employee.Lets take a look at that too:
. HR help desk: Human Intelligence
‘How do I avail a leave?’ ‘What is the process of reimbursing travel bill?’ These are iterative but critical queries that need to be addressed. Failure to receive a correct or timely response to such questions can affect the employee experience drastically. HR bots are being widely used by organizations to not only attend to these help desk queries but also to engage and understand the well being of the employees. For instance, Genpact uses AI enabled chat bots to help in their HR self-service and employee engagement. They also use analytics and machine learning to interpret the communication patterns to predict performance and preempt attrition.
Employee engagement: Lazlo Bock, ex-senior vice president of Google, co-founded Humu that solely aims to ‘make work better’. Humu helps drive behavioral change using data and algorithms by determining and nudging the top drivers of happiness, productivity, and retention.
The Xoxoday platform is a stark example of how technology enables employers to intuitively design employee engagement and the employee to uniquely choose how to engage back. The platform uses social media-inspired elements of technology like feeds, groups, chats, etc and e-commerce inspired extensive global catalog that makes rewards truly inspirational.
Tech Mahindra reportedly uses facial recognition technology that not only eliminates swipes but also helps to capture and measure their delight quotient and send engagement index to leaders and managers.
These innovations signify the importance companies now place on employee engagement. These software facilitate employees and companies alike to have a transparent, collaborative and engaging work environment.
FUTURE OF HR TECH
Future of HR Technology seems to be moving towards multiple light tools rather than one big system like the yesteryear. Increasingly technology will enable functional managers and leaders to reach last mile information and connect with their teams without needing HR staff interventions. Most cloud solutions and mobile apps are already making that happen. Evernotes and Dropboxes of the World are as mainstream today as workday or similar.
Innovations in HR technology have led to a trend wherein almost all companies are switching to a high-tech Human Resource Management Systems. Be it talent hunt, acquisition or payroll, the HR technology has been adding robust features to support advanced data-driven operations. During the recent days, companies seek HR solution that leverages the power of the cloud, IoT, AI, virtual reality, machine learning, augmented reality and more such technologies to continuously evolve for providing high-quality, and intelligent solutions to the HR industry.