2020 has proved to be the most powerful catalyst for changes for individuals, families, and companies. Teleworking is growing before the pandemic, which is now the norm. The persistent inequalities emphasize the significance of inclusive initiatives. The need to promote employee wellbeing, both mental and physical, is more critical than ever. As we move into 2021, we will see HR technology innovations supporting companies within”the “new normal,” offering technology solutions addressing new and ongoing issues.
In this article, we’ll discuss the six tech trends HR departments should keep an eye out for and then show how the current economic climate has created crucial tools.
What is HR Technology?
Suppose you’ve been wondering, “What is HR technology?” you’re not on your own. HR technology is an umbrella term that covers the tools used by HR managers to provide a better experience.
HR software can securely keep data safe, automate daily procedures, and provide analytical tools that can help drive more strategic decisions. Features like the management of benefits pay, and onboarding, performance management, and communication are all managed through an HR software platform that is digital. Automating these processes will not only save your business money and time. It also decreases the chances of human error, thus reducing risks and preventing costly mistakes from happening. In addition, cloud-based HR software is available anywhere and anytime, making it ideal for the current work-from-home-from-home-based environment. Employers and employees can access or review information from their homes or while on the go.
HR Technology Solutions
Technology is revolutionizing HR processes. Here are a few ways that HR technology solutions can benefit your company.
HR departments have a variety of responsibilities, and there’s no space for errors. HR technology can help streamline and make it easier to manage tasks. It also offers a single platform that handles every HR function, reducing confusion and limiting the chance of making mistakes. This helps save time for HR professionals and employees who wish to send requests, modify information, or look over their information.
HR Technology Trends
In looking at the HR technology trends in the future for 2021, we can see a clear influence from the past year and the constant movement towards digital transformation. So here are the trends in technology that are coming to you.
1. Artificial Intelligence in Recruiting
AI is changing the way HR functions in every area, not just in the field of recruitment. AI-based algorithms are transforming the methods employers use to find talents by providing an exclusive insight into candidates from various sources and their social media activities. IBM, for instance, employs AI to analyze the shares on social media of potential employees. It also looks at the words and expressions on the face of applicants to determine if they’re the right match. While this could be somewhat intimidating (hello Minority Report), this ability can be utilized to stop discrimination in hiring and make a more broad and diverse workforce.
2. Digital Transformation
Although many businesses have already begun with their digitization process, 2021 is expected to see greater adoption. This means that technology will be integrated into every aspect of HR. According to Forbes, millennials are again driving this change because they depend on automation tools for communication, accounting, and management. Digital transformation is an increase in self-service tools like automated onboarding or workflows. Additionally, HR departments will use data to enhance the company’s culture and policies.
3. HR Technology Remote Work Upgrades
In 2020, we stepped out of our workplaces and into our homes as the trend of working from home exploded. Evidence suggests that the trend towards remote work will continue, even after the pandemic ends. Along with the broad selection of tools available to work remotely, 2021 will be a year of further improvements. This will mean that HR technology is available to Payroll Software employees, and employers can access it from any place. This is not even including the complete digitalization of processing requests, scheduling, and other information.
4. Performance and Wellness Management
The year 2021 will be the one when the management of performance will become an in-real-time continuous, continuous, and integrated process that is continuous, continuous, and integrated. The annual Performance Reviews are rapidly going out of fashion as businesses adopt a process that has frequent reviews (quarterly/monthly) with the potential to conduct more precise weekly reviews. HR Technology enables supervisors and employees to review their performance regularly and create a continuous cycle of expectations-setting and feedback. The employees will become more aware of their performance, and supervisors will be more precise in their expectations.
5. Data Privacy
With new laws on data privacy being passed across the globe, companies must begin making a point of taking security concerns seriously. In accordance with the California Consumer Privacy Act and New York’s Stop Hacks and Improve Electronic Security Act, employees’ data must be protected and protected. This means that HR tools must be up-to-date in safeguarding sensitive data. HR Technology should keep documents centrally and well-organized. Additionally, functions like digital signatures can help protect payslips and contracts.
6. Digital Learning, Training, & Development
Surprisingly, this epidemic has opened up new opportunities for training and upskilling employees. The companies began to offer training programs for employees to help them adjust to a new work environment that is entirely online. They soon realized that this approach could be useful for traditional learning opportunities. Training and development of employees will be an essential aspect of HR technology in the coming years. In short, companies need platforms where they can share documents and resources and automate workflows and assist employees in their pursuit of professional advancement.
The biggest challenge in implementing HR technology lies in training your employees to update their old methods. Begin now so that your business is up and running by 2021.