The world of today is digital! Every business, every person across the world has felt the impact of a digital transformation, and the field of HR has been no exception to this rule.
The theme of HR technology trends of late has been the force of digitalization: digitally-forward initiatives, strategies, and tools are taking the place of traditional practices of HR professionals, as the former offer significant and measurable payoffs, both to employees and to the organizations they work with. In 2020, the following could be the strongest HR trends:
Workforce composition is changing fast!
The workforce of today is not quite the same as in the past. One of the biggest changes is in its composition – there are now Generations X, Y (i.e. the Millennials), and Z in the workforce, which has also meant a coming together of diverse cultures and approaches to work.
Generation Z, in particular, comprises the true ‘digital natives’ i.e. those who essentially grew up in the technology world, living their lives online, fluent across technologies, working with digital products and services. Consequently, they expect similar conveniences in their work life too, and companies thus have had to look at incorporating technology into everyday operations and processes.
Along with this, the push for diversity and inclusion has also meant that HR professionals are bringing in remote work, part-/flexi-time work, and other alternative work situations. This has let the workforce work from anywhere and at any time.
HR is going digital
Technology has revolutionized the entire HR experience and led to significant changes and improvements in the continuing journeys of all employees. HR services now offered digitally include:
- Onboarding new employees quickly and easily
- Automated employee documentation
- Payroll and benefits administration
- Easy-to-implement and interact-with platforms for periodic employee evaluations/promotions/relocations
- Conveniently accessible discounted employee-only vendor products and services
- Internal and external educational programs allowing employees to learn and build new skills
- Mobile-first, omnichannel access to HR platforms and programs
- Efficient offboarding of departing employees
In this way, HR technology has helped in improving efficiencies for employers and experiences for employees. And, its breadth can only become more important and more commonplace.
Analytics is making its place
Data science technology and tools have made their place in the work of HR professionals. They are learning to leverage artificial intelligence (AI), predictive analytics, and robotic process automation (RPA) in their functions.
Powered by data science, predictive analytics is highly beneficial for HR professionals. It can, for instance, suggest if and when an employee is likely to want to move on from the current employer, and accordingly prompt the HR team to intervene.
AI tools also make things a lot easier for HR professionals. They help to easily and quickly extract data and details that employees previously filled manually when beginning their employment at a new workplace.
RPA, estimated by Forrester to be worth USD 12 billion by 2023, helps to automate manual-labor-intensive tasks. Employees are thereby freed up to work on more revenue-generating tasks, stepping in only when manual intervention is imperative.
Technology is improving talent acquisition, engagement, and retention
Advancements in social media are but an example of the advancements in HR technology, helping HR professionals to identify, connect with, attract, engage,, and hire great employees who add value to their workplaces. Social media has also been a great avenue for companies to showcase their positive work cultures, great facilities, career advancement opportunities, and other aspects that make them great employers. This has also meant that hired employees would tend to stick with their employers for longer periods, and companies need to worry less about retention and replacement of employees.
Reskilling and upskilling pick up the pace
The onward march of technology has often meant that employee skills become outdated, and employees need to come up to pace with new applications, architecture, infrastructure, operating systems, and technology across the lines of businesses of multiple industries. Aside from this, there is also the very important matter of soft skills which, along with technology, are the subjects of employer efforts such as classes, educational modules, and learning management systems.
To be equipped to handle the evolution of HR, a great way is to opt for an HR and talent management certification. Certification shows a potential employer that the applicant is conversant with the current technologies, practices, and skills in the HR and talent management domain, and is also serious about and desirous of moving up and ahead in a career.