Attracting and retaining quality talent has become more important than ever for companies across all industries. So it is essential for companies to invest in their HR department, so that they can ensure employee satisfaction and by doing so be able to retain their top talent. This is by no means easy, especially if you take into consideration a recent survey that has shown that more than 80% of workers are either actively looking for a new job or are open to one, and not only that, it also stated that offering career training and development would, actually keep 86% of millennials from leaving their current position.
This means that the HR department has their work cut out for them, and this is exactly where technological advancements can play a major role. Investing in right technology for the HR industry is the only way of staying on top of the ever-changing labor market, it can help speed up a lot of daily processes and, at the same time, enable people working in this sector access to the valuable information that can help them perform better.
The main question is how do we navigate through the sea of available HR tech advancements. Let’s start with checking out some of the latest trends coming our way in 2019, this can help companies decide what are the best tech investments that will significantly improve their HR department.
1. The Tech Involved in HR Analytics
The latest HR technologies enable employers to dive deeper into employee information in order to better understand important aspects of their company’s employee lifecycle, from turnover statistics and reasons to performance and the overall effectiveness of leadership strategies . It is also important to mention predictive analytics that helps companies better pinpoint talent metrics and risks.
For example, a recent study states that workplace injuries can be predicted with accuracy rates as high as 97%. This is definitely something that will be of great help to employers, and at the same time, have a positive influence on employee satisfaction. By using predictive analytics technology you will be able to strategize better and even prevent some situation from occurring at all. Having such insight knowledge is a huge advantage for any HR department.
2. Workforce Planning and Organization
This might be one of the most important applications of technology in the HR industry in 2019. In 2018, a lot of companies have started recruiting from within and by doing so, attempting to increase retention rates. Numerous companies will turn to HR software solutions to help them calculate their current turnover rates. A lot of effort and energy will be put in by companies in order to get the desired data when it comes to forecasting the workforce demand for the upcoming period. So that they can act appropriately, and shift some things around within their company, rather than being pushed to engage in new talent searches on short notice. Having the right knowledge can even help with planning for and obtaining quality disability employment services , so as to ensure top worker satisfaction.
In addition, the information gained through applying the HR tech can lead to much better balancing between bench time and project utilization. This means that you can plan bench time in advance, thus letting your employees know on time and not simply springing the situation on them. Your employees will welcome some bench time if it is appropriately planned and supported by relevant reasoning. And the right type of HR tools will provide you with exactly the data needed for this type of decisions.
3. Improved learning and development
If you take into consideration the data from a recent study that states 42% of employees say learning and development is the most important benefit when deciding where to work, it is quite clear why implementing new technologies into this area of HR is going to be trending in 2019. Now the tech that is going to be involved in learning and development processes will focus on AI along with AR, and VR solutions.
This new approach will help employees learn and develop their skills but also provide the employers with the necessary data to be able to gain insights regarding employees desired career path ambitions. In addition, learning and development programs that use modern technology can also help in the development of employee soft skills like negotiation , cooperation, and emotional intelligence. These are becoming just as important for overall success and employee satisfaction.
4. Speeding up payroll management
Now, technology has been present in this aspect of HR for many years, but it is still improving constantly in order to make the employers job a lot easier and, at the same time, ensure that employees get the best possible treatment. One of the trends that we can expect in 2019 is much fuller automation of basic processes, like tax deduction and benefits, which will leave almost no room for error. In addition, a lot of corporations which do business around the globe and have employees in different countries and cities will be able to benefit from cloud-based services for payroll management.
Of course, this type of technology will require you to invest a bit more in cybersecurity, but it will definitely be worth it as you can manage all the data from one place, and have a clear picture of the entire situation so that you can make changes on a global, not just local level. And your employees will definitely appreciate the speed and accuracy with which you will be able to manage your payroll system.
5. Elevating recruitment marketing efforts
We have already talked about how important quality talent acquisition will be for companies in 2019, so it is quite clear why improving the technology used in recruitment marketing will be one of the main trends. First of all, it is of vital importance for companies to find new and innovative ways to overcome the current talent crunch that has been plaguing all business industries.
The way that technology can help is by promoting your company and brand, and making it not just more visible, but also more attractive for your talent. Having a highly responsive website that works across all platforms is without a doubt one of the most important steps. Then there is a great need to leverage the benefits of social media, and HR departments across industries are planning to do just that in 2019, this is called social recruiting and it involves finding, communicating with, or advertising to job candidates using social media. Finally, companies are also active on blogs, forums, and job boards, all in the effort to attract the best possible recruits.
These are just some of the HR technology trends that we can expect to see in 2019. If a company wants to stay on top when it comes to maintaining employee loyalty and satisfaction as well as attracting new, quality workforce, it needs to ensure that the best possible technology is employed by its HR department, in order to obtain the data needed to make the right decisions when it comes to current and future employee management. The industry is more competitive than ever, and those companies that can’t keep up are bound to go under at some point.
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