Need for HR technology:

Technology is changing the way HR teams function. It’s making the hiring process easier by gathering and breaking down data to get an overall picture. With the new age technologies like AI and ML the whole HR industry is going digital and it is opening the door to a whole new world of possibility for the recruitment industry. The new technologies help Human Resources in various ways at all the stages such as recruitment, selection, hiring, onboarding, and employee management. So, let’s understand why there is a need for HR technology.

HR technology:

• Helps to identify and hire talented employees
• Handles onboarding and training of new hires
• Maintains payroll, holiday, and attendance records
•  Manages talent effectively

New-age technologies are making these and other recruitment-related tasks easy, but only if you know what are these HR tech trends and what to expect from them.

Top HR tech trends

1.Talent management software:

What is a talent management software?

Talent management is nothing but a process of keeping a track of talent within an organization. Many human resource professionals use talent management software to manage employees. A good talent management software ensures your company’s talent remains engaged, active, productive, benefited and with your organization every step on the road of success.

 What is expected?

You can look at talent management software as an ideal source to fulfill the organization’s commitment to manage, retain and develop employees. It includes all the factors that help you build a superior workforce. There are five major criteria you can expect from a talent management software.  

• Hiring and onboarding
• Learning and development
•  Performance management
• Payroll and compensation
• Succession planning

2.Robotic process automation

What is robotic process automation?

Robotic Process Automation is a technology that automates the high volume, time-consuming, repetitive, administrative tasks and increases the productivity of a recruitment team.  The way Artificial intelligence is playing a major role in acquiring top talent for organizations, Robotic Process Automation (RPA) can also be used to transform the traditional workflow which is human-intensive.

 What is expected?

To improve your HR and recruiting functions RPA provides a time-saving way, forward-thinking, increased accuracy to streamline the overall hiring process. You can easily rely on the robotic process automation when it comes to establish a good relationship with candidates and engage them though personal one-on-one communication means. So, here is what you should expect from RPA:

• Automated communication with the applicants
• Gathering, processing, and manage applicant data and feed it in the applicants tracking system
• Candidate sourcing and maintaining database for quality candidates
• Answering candidate queries and provide an automated application process

 3.HR analytics

What is HR analytics?

HR analytics is a data-driven way to manage employees by applying analytics with an intention to improve employee retention and performance. It collects and correlates organization and employee data which can help employers gain valuable information such as employee turnover rate, employee retention rate, employee churn analytics, capability analytics, etc.    

What is expected? 

HR analytics has become an integral part of recruiting planning and strategy. As we know by using various means organizations nowadays are generating huge data. But without having clarity on how to utilize that data, it’s difficult to design a successful recruitment strategy. This is where you can take advantage of HR analytics.  Here are a few things you can expect from HR analytics:

• Identify hiring needs of an organization
• Better quality of hire and employee retention
• Regular reporting on organizational and employees activities
• Keep a track of key workforce metrics
• Prediction of in-demand skills and positions within the organization

4.Candidate assessment tool 

What is a candidate assessment tool?

The candidate assessment tool provides an opportunity for recruiters and hiring managers to assess candidates based on their skills, knowledge, personality traits, ability to perform and, behavioral style. It not only identifies the potential candidates but also gives detailed test performance analysis of each candidate appearing for the test. Employers nowadays relying on pre-employment testing to minimize the mistakes happen while interviewing candidates. 

What is expected?

To make your recruitment process faster, inexpensive, and prompt you must use pre-employment testing before interviewing the applicants. This will help you to find a candidate with the right skillset and a good culture fit to hit the peak performance quickly. In order to make your hiring process better you can expect the following things form a candidate assessment platform:

• Ready to use skills assessments
• Great candidate experience
•  Less time-to-hire and reduced biases
•  Cheating prevention
• Detailed and powerful reporting
• Valid and reliable tests

5. Payroll management system

What is a payroll management system?

A payroll management system is an important software for any business. It maintains financial records of employee salaries, wages, bonuses, net pay, leaves, and deductions. Any organization with more than one employee should use a payroll system and maintain a record as dictated by law.

What is expected?

Payroll matters a lot for every organization as it can indirectly affect the productivity of your workforce. Not being able to pay your employees on time may affect the morale of employees and ultimately decrease the overall performance. So, to avoid these issues you must have a payroll management system which gives you the power to:

• Automate & optimize the entire payroll process
• Maintain employee information effectively
•  Define emoluments, deductions, leave, etc.
• Generates automatic pay-slips
• Handle pay-roll according to the salary structure of respective employees
• Provide reports related to employee leaves, attendance
• Eliminate critical human errors