Manage HR Magazine | Thursday, February 24, 2022
Every step of an employee's journey is being disrupted by technology. As a result, venture capitalists pour millions of dollars into each sub-sector of human resources, from recruitment and onboarding to training and skill development (HR).
Fremont, CA: The HR technology landscape is evolving as well as maturing. As a result, individual systems can no longer provide all of the functionalities required to address all of the challenges that the modern HR department encounters. As a result, new HR tech sub-sectors are emerging, transforming how businesses hire, manage, and retain their workforces.
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Here's a look at a couple of these burgeoning sub-sectors and some of the HR tech trends we may anticipate seeing in the next year.
1. Artificial Intelligence is Still Reshaping the Recruitment Process.
There are numerous ways to speed up the laborious and repetitive stages of the recruitment process. Hundreds of platforms are incorporating AI or machine learning to assist businesses in automating these tasks. AI is also being lauded as a means of removing unconscious bias from the recruiting process. For example, to screen, filter, and select the top candidates, AI software can be trained to ignore demographic information such as gender, race, or age and instead look for primary, job-related details.
2. An Increased Emphasis on the Employee Experience
When employee engagement is low, HR professionals become concerned, and they are expected to increase their efforts to improve it. In his whitepaper on the employee experience platform market, Josh Bersin, a leading analyst and thought leader focused on the global talent market, notes how unusual it is for a new category to emerge in the world of enterprise software; however, there is a real need for employees to feel more engaged.
3. HR Technology Includes Workplace Health and Wellness.
Numerous tools and applications are available for mental and emotional wellness, stress reduction, fitness, and sleep. The corporate wellness sector is estimated to be worth $48 billion, and it has emerged as a new priority for businesses looking to attract and retain talent.
HR Technology's Bright Future
As HR technology advances, firms who wish to improve their HR operations will raise their investment. While HR technology is a complicated business, it's clear that there is still endless potential just outside the traditional verticals where so many technology companies have long concentrated their efforts. As technology continues to disrupt long-standing HR procedures, there is a lot of hope that the industry will evolve.
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