Technology has become an essential tool for HR professionals. It helps to save time, reduces costs, and improves the accuracy of traditional human resources administrative tasks. It can help to manage processing payroll, administering benefits, keeping records, and complying with laws and regulations. In recent years, the role of HR has grown beyond the traditional tasks. Technology has helped to make this possible, playing a crucial role in today’s expanded HR functions.
Some of the current HR technology trends rely on advances in artificial intelligence and machine learning. Other technology trends are responses to changes in employee expectations, such as a desire for remote or hybrid work. Still others arise from the need to compete for talent in a tight labor pool.
Small and medium-sized businesses (SMBs) need to keep up with the latest in HR technology trends or risk their competitors passing them by. Incorporating the trends that best fit your company may raise productivity, increase efficiency, improve communications, and help attract and retain employees.
Keeping up with technology trends is not always easy for a SMBs. Technology systems can be too expensive for an SMB and often require specialized staff to operate. SMBs can still enjoy the substantial benefits that come with implementing some of the latest technology trends by partnering with a professional employer organization (PEO). PEOs have the resources to provide SMBs with the access they need to today’s cutting-edge HR technology.
The latest trends in HR technology help companies attract, hire, and retain employees. Some of these trends are specifically aimed at the ways employees work, including the popularity of remote and hybrid work. Technology can also free HR staff from tedious administrative tasks, giving them more time to tackle strategic projects. Recent technology can also perform high-level data management, to help companies spot trends and make better decisions.
Artificial Intelligence (AI) and machine learning help HR teams reduce their workload while increasing their company’s overall productivity. This is an area where technology is rapidly changing. Some applications of AI that HR teams may be using include:
HR managers should be aware that in the near future, there is likely to be more employment-related rules and requirements of the use of AI to make hiring and other employment decisions.
About 40% of full-time workers work exclusively from home or are hybrid workers, who work both at home and in the office. About twice as many of these employees are hybrid workers compared to purely remote workers.
Managing a hybrid workforce presents challenges. New technologies can help with talent management. HR managers can use software platforms to connect at the same time with employees who are on-site and at home. This facilitates training, skill-building, and communication.
As more work is done off-site, the way that employee performance is measured may have to change. Technology can provide new methods of performance management. It can help the HR team measure productivity in new ways, such as by assessing results.
With a cloud-based digital learning system, employees can easily access training materials from wherever they are, including at the office, at home, and on the road. Materials can include training videos, employee handbooks, and other HR documents. Training materials can be customized to meet the needs of the company and employees.
Enhanced management training is likely to be a popular trend. Technology will benefit managers in several ways, including:
A Gallup study found that workers who were not thriving in their lives were 61% more likely to experience high levels of burnout. When employees get burned out, they are less productive and more likely to quit — both of which create expensive losses for their employer. Employers can help prevent these losses by investing in their employees’ well-being.
Devoting resources to employee well-being and mental health is also important for attracting new employees. These are important benefits that are popular with employees. Technology may be used to enhance employee well-being and mental health by:
If a company is doing extensive hiring, trying to keep track on paper of where each applicant is in the hiring process can become complicated. Information can get lost and potential employees overlooked. HR technology can help make it easy to automate the tracking process and make it more accurate. HR leaders can also use the system to help:
There are about twice as many unfilled jobs as there are unemployed workers. Businesses must compete for top talent. Companies that don’t use technology to help guide and streamline the recruitment and hiring process put themselves at a disadvantage.
Technology is also playing an increasing role in providing training that benefits both employees and employers. It also helps to make it easier to communicate with the substantial portion of the workforce that is working at home at least some of the time. Technology helps keep remote employees engaged and feeling included even while they are physically apart.
Artificial intelligence, machine learning, and data analytics are at the frontier of technological progress. Because they are evolving so rapidly, to get the most use out of them, companies will need the guidance of people with expertise in these areas.
Many SMBs are not going to be able to adopt all these trends on their own. They don't have HR departments with the required expertise, and it can be prohibitively expensive to get an advanced technology system for their own private use.
Professional employer organizations (PEOs) such as TriNet may be the solution. PEOs work with many client businesses, and economies of scale give them access to sophisticated technology systems that SMBs may have harder time to engage on their own. Choosing TriNet as the PEO provider gives customers access to experts and support and HR technology so customers can adopt the technology trends that will most benefit their business.
This communication is for informational purposes only, is not legal, tax or accounting advice, and is not an offer to sell, buy or procure insurance.
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