With the emergence of potentially disruptive HR technology solutions, we are witnessing a technological explosion that is fundamentally changing the way we work and the way we think about HR. As per the recent reports, the usage of technology in the HR domain is going to increase by more than three billion dollars in the next five years.
While there are many technologies, the most interesting – and disruptive – examples are based on artificial intelligence and automation. Artificial intelligence and machine learning are opening the door to a whole new world of opportunities in the human capital space. Recent trends show that more than half of HR leaders believe artificial intelligence will become a permanent part of HR within five years.
So, how exactly is technology changing the face of HR resources? Here’s what we think.
- AI in recruitment
- Compliance
- Analytics in performance management
- Analytics for diversity and inclusion
- HR strategies
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AI in Recruitment
AI recruitment is the use of artificial intelligence-based software in recruitment processes. These software tools offer a number of ways to automate and simplify the hiring process, allowing talent acquisition professionals and managers to spend less time on time-consuming, repetitive, and manual activities and more time when the talent acquisition process requires human intervention.
These tools allow organizations to improve recruiting practices by identifying more qualified candidates and acquiring more candidates. Platforms can also improve the applicant experience by making it easier for job seekers to apply for jobs and communicate directly with companies. And in many cases, companies can integrate AI recruiting software into their existing applicant tracking system. The use cases include – process automation, resume and document review, candidate sourcing, hiring, and supply.
Analytics in Performance Management
Performance management has long been an important HR function. It fulfils several functions. The first is that it provides employees with standards they must meet to be successful in their role. It helps employees know if they are meeting their goals and gives them clear indicators of which parts of their performance could be improved and which parts are meeting or exceeding expectations. It also helps the employer structure roles more, which can lead to increased productivity in their teams.
HR analytics for performance management helps companies better understand what their people need to be more productive and ultimately help improve performance across the company. HR analytics help employers identify gaps in performance and work to improve them using the information provided by analytics. Better information, better planning and design can help lay the foundation for the best possible performance.
HR Strategies
HR technology has given HR professionals the tools to reduce the time spent on administrative tasks, allowing them to focus on matters that require more hands-on attention. Before mobile apps and cloud computing, HR was defined by folders of paper and a constant struggle with compliance, hiring and endless piles of employee data.
By simplifying responsibilities like recruiting, accounting and payroll, HR technology has greatly improved efficiency, accuracy and even employee morale. The role of HR as an administrative task will continue to shift to the personnel field for the strategic advantage of the organization, if the department is further supported by technology that simplifies administrative tasks and frees our time and resources to influence the organization more strategically.
