Many companies are beginning to understand that their businesses run more efficiently when they enhance their operations with technology. Through the utilization of compiled data and with automated processes established, these entities, covering a myriad of industries, have given themselves the ability to make better business decisions for themselves and their employees.
Over the past few years, the ‘technology boom’ has hit the human resources (HR) department, giving administrators access to more digital platforms, services, processes and solutions used to enhance operations for both employees and the company. Let’s see which HR technology trends are worth looking into.
Big data is characterized by five Vs—volume, velocity, variety, veracity and value. When evaluating HR data, the Vs reveal:
Once compiled and analyzed, HR data can be used to help drive the business to positive, actionable-outcomes. For example, the data can be used to answer questions such as:
This HR technology is becoming very prevalent in employee onboarding, training, performance management and talent acquisition. The use of Artificial Intelligence (AI) helps HR departments focus on higher impact projects by automating processes and streamlining data. With Robotic Process Automation (RPA), tasks like sending email communications, initiating assessments, scheduling phone calls, interviews and more all become simplified through the use of an application.
Today, people can slip on a headset, take hold of a specialized controller and travel to a whole new digital world to battle dragons, fly airplanes, take down corrupt governments and much more.
Can virtual reality be applied to the HR world?
Yes. It’s already been taking form in the realm of sexual harassment training by Morgan Mercer of Vantage Point VR Training. In the past, this type of training involved person-to-person, or computer-based training that included videos, slideshows, photos, the context of situations and more. Mercer’s immersive application is just a taste of where HR-related virtual reality can go. The platform helps to create real-time simulations, improving the learner’s ability to use prevention techniques, while boosting bystander prevention.
Enhancing transparency and improving experiences for internal and external stakeholders is a must for many companies. What better way to do that than to give these people access to a self-service (portal) tool. For example, an employee portal—and the various modules connected to it—can enhance transparency for employees by allowing quick and easy access to:
This HR technology isn’t new, but it’s only getting better year-over-year. Many companies are also using HR Chatbots to better streamline service their employees.
Another popular HR technology trend rising today for employers is a renewed focus on recruiting within an organization to fill in open positions while also increasing the “bench utilization” resources available to them. With the help of various automated HR solutions, employers can forecast their workforce demand and predict their employee turnover rate for the year. With data analyzed, they can focus on increasing their retention rates with internal recruiting efforts.
Finally, the focus on bench utilization means that employers will put an emphasis on cross-training employees so they can better handle “emergency situations” if needed in the event that the main contact is incapacitated, or unavailable for any reason. This type of thinking helps employers to refrain from spending massive amounts of money to externally recruit someone to fix a problem.
Today, businesses are beginning to realize the importance of HR management and the positive rippling effects it has on its entire human capital population. To increase transparency, many companies are investing in a cloud-based, scalable HCM platform to help automate essential processes while also harnessing the power of their data to make evidence-based decisions for critical business objectives.
The Arcoro platform can be offered as the full suite, or by individual module, for businesses who need only a specific solution(s). The automated platform is scalable to fit specific needs as these businesses change over time. Arcoro holds the following modules within its suite: