“AI (Artificial Intelligence) will augment HR and give HR time to work on more strategic business issues.” The opportunity is to use AI to streamline HR manual processes and provide a more consumer-grade service to employees.
-Jeanne Meister, co-author, The Future Workplace Experience
In the coming years, the future of human resources looks more agile, fast, technologically advanced, and more digital. The pandemic has changed the working environment. As a result, HR departments are on the verge of rethinking all capabilities and operating models. This is the right time for HR to rethink and compact with the new digital environment.
What’s HR Tech?
HR Tech is a human resource technology that redefines the fundamentals of HR processes like recruitment, talent management, payroll, compliance, performance management, employee engagement, and many more.
HR Tech is here to transform the fundamental practices of HR digitally.
HR Tech is an application with emerging technologies like artificial intelligence, IoT (Internet of Things), robotics process automation, and many more.
This is going to transform the way HR works.
It will also affect the goals of HR departments. It will make goals focus more on productivity and employee engagement.
Fundamentals of HR-Tech
Electronic human resource management is nothing but an application developed with the adoption of new innovative technology for delivering human resource practices more easily. “E-HR” stands for HR services delivered using web services. This requires a root change in the way HR looks at its roles. They should look more closely now at applying their knowledge via technology.
Hiring at the cost of attracting and retaining highly skilled technical talent provides a significant competitive advantage. The innovative recruitment tool with web-based technology helps have a diverse applicant pool.
New edge technologies like AI, ML, and many others allow for hiring top talents. It helps in hiring quality talent and reaching talent across the globe.
Managing the performance appraisal system is a big task. Many times, we lag between work activities and performance feedback. Real-time data can help with this. E-performance aids in automatic data collection, work monitoring, development support, and performance notification. It reduces the bias in performance appraisal. Everything is clear, stored, and transparent.
HR Chat Boat
HR catboats are already in action. They are mostly used as a virtual help desk to answer employees’ day-to-day questions. It also helps in pushing notifications for things like changes in policy, virtual events, and promoting mental health messages. It improves and simplifies the HR manual’s work.
HR technology is quickly becoming the most effective tool for businesses everywhere, enabling them to hire more quickly, keep the best employees, improve employee engagement, and upskill their workforce.
As the talent market presents a variety of difficulties, HR Tech will assist businesses in overcoming these market disruptions and inevitably draw a flood of funding from venture capitalists and organizations throughout the world.