Technology has always been something worth investing in for business – it’s a way to boost productivity and steal a march on your rivals. It has become increasingly indispensable for the HR industry. Tech in the HR industry has already made improvements, with easy-to-use platforms allowing for repetitive and simple tasks to be sped up and, in some cases, automated. As the system has grown, it’s allowed people working in HR to focus on more strategic decision making and face-to-face interaction.
Worldwide, the HR tech sector is worth about £309 billion. As the tech industry grows, so too does the opportunity for new ideas that benefit people in HR. It’s likely that ever-more automated products are going to become increasingly popular, and as a result, we’ll see room for growth on the trajectory that we’re already on.
Which trends developed last year?
We’re likely to see further evolution in the HR tech industry this year, but some of the biggest forms of growth have entered the industry in the past few years. The trends that emerged in 2019 are likely to carry us through 2020. Some of the best developments were:
- Development of mobile platforms
- Artificial Intelligence
- Internet of Things (IoT)
- Machine Learning
Each type of tech has a different specified skill, and it’s been put to use in multiple areas. For example, AI is a great way of recruiting the ideal candidates because the algorithm can be adjusted to search for skills, experience and education. Machine learning can speed up admin tasks, while mobile platforms allow workers to be flexible and still maintain access to the systems they require to be able to do their work.
So why should your company invest in HR tech?
There are plenty of reasons to bring HR tech to your workplace, and we’ve collected some of the most beneficial ones below.
1. It’s simple to use
Although it can take some time to train people on new tech, the most recent tranche of developments have helped to develop programs that are almost as intuitive as the sort of platforms everyone uses at home. Whether it’s the holiday booking system, recruitment process, or personal assessments, tech ensures that both user and employer benefit from simplicity. In many workplaces it’s no harder to book a holiday than it is to make a Facebook friend request. HR tech saves time, effort and, ultimately, boosts productivity.
2. It allows for HR to focus on employees
Proper HR needs to focus on people. However, paperwork and processes can get in the way of this side of things. The right HR tech packages free up trained professionals to be able to put the focus solely back on people – automating time-consuming tasks to clear space for in depth analysis, face-to-face interaction and strategic thinking. Staff are the most important part of any business, so ensuring their happiness is essential for retention.
3. Keeping up with best practice
Many HR professionals have already utilised tech in their business. If your company opts out it may hold you back when it comes to future developments. Don’t sit back and watch your rivals boost employee wellbeing, reduce absenteeism, increase productivity and improve retention while you jealously watch on.
4. It’s more affordable
If you’re cutting out time consuming roles with automation, it means you can have a select few HR professionals working in the office. Operating with a leaner, high-skilled, strategic HR team will be better for your business.
5.You can keep employees up-to-date
With sick days, holiday entitlement and performance reviews easily accessible, your employees will always feel in the loop and empowered to be able to control their own working arrangements. Making this harder for your employees only serves to create frustration and confusion.
What can we expect to happen in 2020?
HR tech is becoming more personalised and this will ensure businesses will be able to be flexible and adaptable, creating platforms that fit their circumstances much more neatly than a ‘cookie cutter’ piece of tech. While there are different forms of tech being brought into the workplace, some places are even using the likes of Alexa and Google Assistant to offer a basic question and answer service.
As tech innovation continues, it’s no wonder many HR companies are adapting these to make a real difference in how they look after their people. To evolve your business so it continues to fit with the times – and boost productivity, engagement, wellbeing and retention – it’s time to invest in the future.