Technology has shaped every part of our lives including the Human Resource department. Automation, digitization, and globalization have changed the way a company operates and so did the needs of its employees and customers. As technology is moving ahead new things keep on coming and improving the way traditional HR Industry works. Some of the latest technology trends nowadays which will affect the Human Resource Industry to the maximum are:
1. Virtual Reality
Virtual Reality (VR) is the way of creating a simulated environment with the use of computer technology. Virtual Reality has already started revolutionizing the HR long way back and now a growing number of companies are using virtual reality to recruit and train staff. VR also helps companies to pick the best talent for their team. Also, VR is now entering the corporate e-learning space too which has a lot of scope for improvement.
Blockchain is a term that refers to a digital, decentralized ledger of, well, anything. It can be used to track all kinds of information. For HR, the potential uses are limitless, and this technology is capable of changing the way HR industry works single handedly. For hiring, access to academic credentials and certifications could drastically decrease the number of time recruiters spends verifying the information provided. Blockchain is going to be a game changer for compliance and auditing purposes.
“Blockchain’s implications for the finance industry are well-known, but the potential to use the technology in the world of work is huge and it will soon transform HR and recruitment,”
– Grant Torrens, Business Director of Hays in Singapore
3. HR Analytics
Nowadays Data is like gold to a company. Data Analytics has changed the way we see the raw data. Analytics has completely changed the HR way of working into a data-driven function. Every function be it performance management, Employee management, Payroll, Recruitment to giving promotions all are governed by the right analysis of data. Companies can use Analytics to predict employee retention, identify employee job changes that can help the company improve the performance and the efficiency of the employee by identifying the gaps. Technology can help but finally it’s the human itself that need to develop and implement that technology
Gartner Group defines Gamification as the usage of game-thinking and game mechanics in non-game scenarios such as business environment and processes, specifically in recruitment, training and development, and motivation; in order to engage users and solve problems. It helps HR executives to create a more engaging, rewarding and attentive workforce. It is being widely adopted for the functions of recruitment, on-boarding, talent management, employee engagement, and process management. Also, it provides the data that can help the organization to get some insights into how employee work and what motivates them and the possibility of further innovation in this sector is immense.
5. Internet of Things (IoT)
As defined by Wikipedia, the Internet of Things (IoT) is the network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, actuators, and connectivity which enables these objects to connect and exchange data.
IoT improves the employee experience. As most of the Employees, managers, and HR carries Internet-enabled mobile device it helps them to keep connected round-the-clock. Trackers help in tracking the activities and monitor the workforce-related things without stressing too much. IoT impacts performance management in a very positive way. The enhanced connectivity with IoT devices helps in creating a digitally enabled culture where managers and employees can easily connect, share opinions on each other’s performance, improve skills and help each other become better.
These are some of the trends that are expected to disrupt the HR field with continuous innovation and technological advancements.