As organizations complete the first quarter of 2020, talent leaders face considerable number of challenges. From battling for top talent to monitoring employee attendance, human resource managers needs to stay on top of their game to survive in the ever-evolving digital landscape.
Here are 5 trends in human resource management that will shape the future of HR:
1. AI Fuels Smarter Recruitment
Hiring new recruits is a time-consuming and costly process. However, AI and automation has made it easier for you to find skilled people who are the perfect fit for your organization. There’s a large wave of tech solutions that is sweeping across the recruitment market — from automated resume screeners to robot interviews.
AI is clearly outperforming humans at making hiring decisions in a number of ways, not only evaluating hard skills of potential candidates but also conducting the soft-skill and culture-fit evaluation.
Companies have realized that leveraging HR technology helps them to be proactive in their efforts to get responses and improve the hiring process. For example, companies like Unilever, Novartis, Shell, and many others are using AI-driven gamified assessments to hire top candidates.
2. Big Data Powers Organizations
Technology has broken the monotony through HR platforms, digitizing the information human resource needs. Now lack of credible data shouldn’t be causing annoyance to HR recruiters.
One such technological trend is big data, which is enormously helping HR professionals to predict their potential employees, improve the quality and retention of new employees and connect recruiting performance with business performance. Big data, when integrated with other technologies, helps to obtain detailed insights, allowing HR professionals to make informed decisions. Moreover, when it comes to the training and development of employees, big data lets businesses measure the potential effectiveness of a particular training initiative, thereby ensuring they only make wise investments.
3. Automation Makes the Complicated and Error-Prone Payroll Processes a Breeze
It can be very challenging to manually manage the payroll and process payments – not to mention the high chances of committing errors. Thanks to automation, payroll management has now significantly led to higher cost accuracy, reduced process times and improved data protection.
Data collection becomes an effortless task with automation since the input needs to be provided only once. Later, the system ensures only the most recent information is utilized for all payroll calculations. In a nutshell, automation allows you to save valuable time by automating repetitive payroll tasks.
4. Cloud-based Solutions Makes Compliance More Efficient
HR teams are often found struggling with staying compliant since laws and regulations frequently change and often entail a massive amount of paperwork and information. What once required dedicated IT storage capacity, can now be streamlined with cloud-based solutions.
It’s not surprising to see that the businesses that are embracing technology for compliance are coming out on top. Their attractive recruiting and retention efforts and improved working conditions contribute to enhancing employee engagement and increasing sales.
5. Social Media Serves As a Powerful Tool in Recruitment
When it comes to recruitment, social media plays a pivotal role. According to Talent Works, around a quarter of employers use social media channels, such as LinkedIn and Facebook to recruit staff, which comes to show that using social media for hiring purpose is certainly not a gimmick.
There are numerous benefits of hiring new recruits using social media. You can reach the elusive passive candidates, find talent and passion firsthand, get resume details without a resume, find a great culture fit and filter out bad candidates, all the while saving time and money.
Wrapping It Up
Majority of people tend to believe that cutting-edge HR tech trends remove the human element from equation, but that is not entirely true. If you take a closer look at these, you’ll realize that the capabilities that these tools offer actually help organizations humanize the process. Wondering how? By allowing human resource managers to let go of the tedious tasks that can be easily performed by software and focus on the tasks that require a personal touch.
