Employee benefits have become crucial than ever. It is the key ingredient for effective human management and administration processes. With the rising demand for highly-skilled, professional, and skilled personnel across various industries, companies need to come with well-defined HR tech trends to improve recruitment, retention, and employee engagement platform.
Considering this, many organizations have switched to HR Technology that has revolutionized the way HR teams operate. Let’s go back a decade back and analyze the past ten years. What an amazing decade it has been for HR tech. The modern corporate world witnessed flexible working environments to rise in the gig economy, the tech solution automated almost entire HR processes, helping them deal with employees like never before.
Now, as we are reaching through 2021 every business is looking forward to implementing an effective Human Capital Management system, an HR software tool, to keep pace with the evolving technology. On the other side, many business entities and developers are also offering the interactive user interface of the Human Resource Management system. The HR professionals can have access to the data within a few minutes which helps them to ensure enhance the way a company works. However, Human Resource software has paved a way for new opportunities to improve the work and deliver better operational benefit plans to employees.
If you are still stuck with the traditional practices, trust us you are missing some of the vital opportunities for your business and employees. It’s time to embrace HR technology to make your company ready for the future. Before you make your shift, it’s important that you get familiar with the trends that you can expect in 2021.
So, we have jotted down 10 emerging trends of Human Capital Management and its technology to help you prepare better and efficiently. Let’s get started with it:
Artificial Intelligence has been around for years now and has now become an integral part of HR technology. Although many companies are still not using it, you can expect its application in the Human Resource Management system in the coming years. One of the most common uses will be in the hiring process where AI will help identify the right candidates for the job position.
Now, rather than screening hundreds of resumes, the software will scrutinize all the applicants based on skills and experience instantly to shortlist the candidates that are the right fit for the job. Many big brands are already tapping into the potential of AI in their recruitment process.
As the job application starts with a phone interview and question-answer round, the AI system analyzes the responses of every applicant. Besides this, AI is also extensively used in employee benefits software solutions for helping staff make the right elections.
AI-based systems provide personalized plan recommendations to employees based on their demographics and preferences. For other activities like staff scheduling, leave management, and more, HCM vendors are exploring opportunities for AI usage. In fact, some are already using AI successfully for staff scheduling and leave management tasks.
Anyways, the accuracy is not that great as sorting staff schedules using Excel manually. It also helps enhance employee engagement and productivity and provides the best solutions by going through historical data.
Cloud-Based HCM Solutions
HCM is a new trendsetter across companies and industries. Companies are using online portals to manage their workforce, provide the best benefit plans, and make operations easier. However, most of them have failed to keep pace with the updated versions of the software. Organizations are still using the old program which is hardly effective in these modern times.
However, as more companies will upgrade their IT infrastructure, you can witness a new cloud-based app/software that helps HR professionals and employees to store necessary data on cloud servers. Initially, many companies were doubtful that cloud-based technology might not handle their complex needs but now they see it as a stable and reliable solution. You must connect with an authentic HCM software provider without any delay as this is likely to become the priority in the coming years.
BYOD (Bring-Your-Own-Device) Policies
Internal communication is essential to ensure a smooth workflow and enhanced performance. Hence, companies prefer implementing an effective communication system where employees can connect with each other for discussions and meetings.
In fact, according to the latest survey, more than 83% of employees have agreed that frequent interaction is a key factor for a positive work environment. However, most organizations lack a sufficient budget to incorporate an internal communication system. In such scenarios, the “Bring Your Own Device” strategy can come in handy to connect all the staff members, including remote workers, managers, and other staff members.
A reliable HRIS software can be integrated into a laptop, desktop, or any on-the-go device that will connect the workforce anytime, anywhere. Moreover, it will also keep data and information exchanged between the employees safe, maintaining security within the organization.
HR departments are vast and have a lot to handle. Whether it’s hiring a new employee or scheduling compliance sessions, their job goes beyond hiring and firing employees or addressing concerns of the staff members.
They have to take care of payroll, leaves, overtime, employee benefits schemes, and whatnot. Of course, companies have switched to online Human Resource Software to make their tasks easier but still managing all the reports and data gets complicated at times. There are various HCM service providers that are willing to take responsibility for managing your internal workflow without much effort. However, a cloud-based portal is a perfect solution for employees to manage their own data and details.
This will not only decrease the burden on HR managers but also saves a lot of time. The office members can log in to their official accounts, update the information, such as name, contact, address, etc., mark their leaves, review their work, and prepare monthly reports.
If you also look forward to a more organized work environment in your company, then connect with HCM software companies now to include employee self-service platform and provide them a better experience.
Virtual or Remote Workspace
Remote working was not that popular but the recent COVID-19 pandemic has redefined the concept. The companies are accepting this culture and may even switch to remote workers more. The employees have the liberty and flexibility to work according to their convenience and the increased quality & productivity is quite significant.
The global crisis has certainly made employers accept the idea of remote working and they are looking forward to investing in the technology that makes it possible and beneficial. HRIS portals can be exclusively designed for the purpose that provides a solution for virtual and remote workspace.
Moreover, the way employers recruit will also change as they can now have a global team on board with whom they can connect using video conferencing apps, interact, discuss using collaboration tools.
One challenge while using HR software solutions is that employees don’t get used to these. They have to create a separate account on the portal, go to a long URL, sign in every time, etc. So, they prefer not to use any online Management tool.
You can see a solution to this problem as more tolls will be introduced that can easily integrate with the ones that employees are already using. HR software companies are coming up with a system that is accessible through Slack and Outlook. With APIs and EDI Services in place, companies are well sorted with their integration needs. It has been observed that many developers are creating HR software with C# and MSSQL from the scratch.
Focusing on Mental Health
During COVID, various employees have received privilege plans from their organization that has benefitted them to the core. However, due to this corona outbreak, many employees have also understood the importance of mental health and well-being
This subject would be trending in 2021 in the ecosystem of HR technology. However, all the processes and procedures could be done through the Human Resource Management Software. You can create a page on the HRIS Software and let your employees understand the importance of mental health. Through this, their productivity will increase and they will perform well.
Involvement Of Virtual Reality
This is one of the smartest HR trends that we will witness in 2021. VR is already emerging into various sectors and now HR is also counted in the list. There are various sorts of HR activities like job previews, interviews, scheduling, and onboarding that can be done through virtual reality.
Keeping the current situation in mind, it’s important to follow social distancing norms, and performing HR activities through VR technology will aid in bridging the gap in them. In addition to this, VR also enables the opportunity to learn and develop more.
It’s exhausting when HRs used to explain every policy of the company to their single employees. Whether it’s about to leave policies or appraisal agreements, it is not an easy task to elaborate everything.
In 2021, chatbots will turn the table in HR Technology. It will drive more employee experience by the HR team regarding the company policies and benefits. Through chatbots, employees can be able to understand each and everything about the organization and HR can concentrate on other recruitment processes.
Just like other chatbots that are available or that we are using, HR chatbots would work in a similar way for their employees.
Better Corporate Strategies
Well, HR professionals are pillars of every sector. They can also contribute their skills to corporate strategies to streamline business processes. They are able to understand the business insights and strategies in the workplace.
Similarly, HR professionals too want to enhance their skills in various forms and getting involved in various possibilities. This HR trend will be in high demand as this will increase new opportunities in the HR technology.
Employers and HR professionals must take note of these trends in 2021 and start planning to adapt to vital changes. Rest assured that these rising trends will help you, employees, and aspirants meet their demands and fulfill all the necessary tasks efficiently. We are sure that HR technologies will continue to grow and with careful selection of HCM software, you can deliver an enhanced experience to your workforce. Human Resource Management Software is getting more and more eyes in the market and used widely to streamline the workflow. We are open for conversation, if you have any questions or queries share them with us.