Is technology shaping the workforce for the future?
Organizations realize the existing workforce structures have been impacted by emerging technology. Due to technological advancements, the work of human resource professionals and global HR leaders have been severely impacted.
SpaceX, for instance, was a success in reusing the spaceships, which however, it may not have a major impact in the present day. But, it does have an impact on how we perceive the future and our understanding of science fiction.
The human resources industry is one such field that has not been able to penetrate the world of science fiction. Traditionally, HR industry has always viewed as a non-innovative field where only salary decisions are being made and team-building activities organized.
Well, the HR industry has expanded in ways you cannot imagine. The advent of technology has drastically transformed all aspects of our lives, the HR industry being no exception.
A 2015 report, “Culture as a Competitive Differentiator” by the Society for Human Resource Management, in collaboration with Globoforce pinpointed talent retention, competitive compensation, employee engagement, and development of HR leaders for the future to be a major human capital challenge. Not to mention, these challenges could spark innovation within the HR industry across the globe.
We’re all aware of how social media is used for recruitment – precisely about 92 percent of the HR managers or recruiters turn to such platforms to validate potential candidates. About three percent of the recruiters have moved beyond LinkedIn. They have started using Facebook, Snapchat, and Twitter as recruitment tools. Instead of questioning whether it’s worth pursuing such channels for recruitment, they have started engaging with the upcoming working generations, the generation Z.
The question now arises, what could be the technological innovation that will drive the HR industry? What are the best HR tech trends in the market, if any?
As HR organizations move toward technology and innovation amid these challenging times, HR leaders will need to start embracing the HR trends mentioned below.
Advanced machine learning approach
With the help of algorithms, machine learning programs tend to learn from large data sources, which further helps in identifying meaningful insights without the need to be programmed. Machine learning not only helps improve the efficiency of analysis but also allows people to look at the higher level of results for better analysis.
For instance, the PhenomPeople.com app collects marketing personalization practices along with data analysis and further uses it during recruitment.
The rise of virtual and augmented reality
Hololens, a headset to be launched by Microsoft will likely be embraced by the HR industry soon. Such technology will be used to disrupt talent management and productivity. Virtual and augmented reality can increase the likelihood of enterprise training and learning. The technology enables people to use it for corporate training and off-site assignments.
The Internet of Things (IoT) for smart recruitment
According to Gartner, the Internet of Things (IoT) platforms tends to suffer from fragmentation which eventually leads to inefficiencies in regard to data access. However, this platform will still follow the trend for the next five years. That being said, more data will be available and accessible throughout the enterprise environments.
Companies have started adopting cloud computing, and precisely the HR is already moving ahead of the curve. The increased usage of such tools will initiate the HR expertise into middle management ranks thus freeing up the human resource departments to train their middle-tier leadership roles. A certain part of the HR functions will be taken care of by the line managers, whereas the role of HR will shift toward business performance and business execution. With the help of such technologies, keeping track of employees’ time, work preferences, and productivity will all be automated.
These are some of the best HR tech trends the HR industry will likely experience in the upcoming future. About 76 percent of HR organizations have agreed to state the industry needs to actively embrace technology to remain relevant in the competitive workforce.
It is time we all should evolve and embrace the challenges that cross our way.
Spurred by economic growth and technology innovation, companies have to start rethinking on how to invest in new technologies.
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