Technology and the Evolution of HR: 4 Trends to Look Out For
According to a recent report from the HR Federation, investments in specialized technologies for HR optimization reached 3.1 billion US dollars in 2019, which is triple the amount invested in 2017. These impressive sums are reflected in the development, introduction and optimization of new HR practices mobilizing new technological and digital tools such as artificial intelligence, machine learning and automation. The applications of new technologies to Human Resources are so numerous that it’s sometimes difficult to discern buzzwords from real new practices that will have a real impact on your HR evolution.
In this article, discover the technological trends that truly have the potential to revolutionize HR processes. From talent attraction to employee engagement to performance measurement, you’re going to want to keep an eye out for these tools that could make your life much easier in the near future.
#1 Artificial Intelligence and Recruitment
Finding and contacting the right candidates for a specific position is a long and expensive process. Going through numerous CVs, analyzing online profiles, sending messages that all too often go unanswered… these are all tasks that many recruiters would like to do away with.
Good news: this is now possible.
Artificial intelligence combined with automation processes allows online candidate profiles to be scanned quickly and effectively. Technologies using artificial intelligence are able to accurately assess the fit between the technical skills of potential candidates and the needs of your company. The data available online also makes it possible to know which employees are most likely to be ready for a career change as well as the best time to contact them.
Once the technology identifies profiles of interest, recruiters can focus on assessing personal and interpersonal skills (soft skills) and measuring the fit between individual personalities, expectations and company culture. This human-machine teamwork helps shorten recruiting processes, find the best candidates, and broaden the talent pool that recruiters can tap into.
#2 Data & Performance Management
The management and evaluation of performance are responsibilities that often fall under the HR umbrella. Thanks to new technologies, companies now have access to concrete and precise data that allows them to both determine the effectiveness of their employees as well as provide them with concrete recommendations for action that will allow them to improve. Indeed, employee actions can now be monitored in a less invasive way than through the presence of a direct supervisor.
For example, the data collected highlight which actions were taken by the employees who performed best, which processes did not render the expected results and which programs contributed the most to employee satisfaction.
Analytical data is not there to replace the recommendations of HR managers when it comes to giving instructions for improvement to an employee. They simply allow them to identify the skills and processes that could be improved the most.
#3. Social Media and Talent Attraction
Social media isn’t new. The growth of Facebook, Instagram, Twitter and Linkedin has only increased in recent years. These technologies and new approaches to communication are now anchored in our habits and seem to be here to stay. More recently, HR managers have realized that these social networks have the potential to become a major tool in the battle for talent. Indeed, a growing number of professionals trust a company’s brand image when considering a career change.
For example, 84% of job seekers would consider leaving their current employer for a company with a better reputation, even if their salary increased by only 10%. Companies therefore have an interest in nurturing their online reputation if they’re to have any chance of attracting the best talent in their industry.
In addition, social media also allows companies to increase employee engagement and thereby reduce turnover. Indeed, several initiatives such as highlighting an employee’s accomplishments online or promoting a corporate culture on social media can create and maintain a sense of belonging among employees.
#4. Technology and Diversity
A report conducted by McKinsey in 2017 shows that there is a positive correlation between diversity (gender, ethnicity) and increased company profits. Moreover, in the current work climate, public opinion demands that companies take concrete action to reduce existing inequalities in the labour market. Technology could facilitate advances in diversity. For starters, automatic access and analysis of data would allow companies to shed light on existing biases, sometimes unconscious ones, in terms of recruitment, compensation and promotion.
In addition, the use of artificial intelligence in candidate selection processes would prevent hidden prejudices that exist against some job seekers. These programs could also ensure that people from a minority group are always represented in the pools of potential candidates.
CONCLUSION
In the years to come, organizations will increasingly rely on algorithms and new technologies to make strategic decisions. However, while current technologies allow today’s companies to accurately determine optimal hours of work, employee ratios and turnover rates, they can’t measure stress levels, personality or potential of candidates and employees. Although they can be a great aid to HR managers, they can never replace them.
Use them for what they really are: a new tool in your toolkit, and be sure to always look beyond the algorithm.
Sources:
https://hrexecutive.com/here-are-4-emerging-trends-in-hr-tech/
https://talentculture.com/5-ways-technology-is-changing-the-face-of-hr/
https://financesonline.com/6-technological-trends-redefine-human-resource-management/
https://smallbusiness.chron.com/technology-impact-hr-practices-37912.html
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