There is no doubt that technology is shaping and improving our work lives. Analytics, artificial intelligence, the rise of online learning platforms and the emergence of chatbots are just some of the many ways in which technology has made its presence known within the HR profession. As technology continues to effect change within the HR profession, staying informed is as important as ever, and the following trends serve as just a few examples of what is happening in today’s working environment.
Growth in People Analytics: In recent years, organizations have seen big changes with respect to HR data. Advanced analytics and reporting dashboards, as well as predictive models signal the dawn of a new era for data within the HR technology space. The creation of predictive models, in particular, has become more widespread within HR and has almost doubled over the past three years. Companies are also leveraging this technology to create retention strategies, specifically using data to figure out why high-performing employees leave. As analytics models become more readily available, not to mention more advanced and complex, companies will likely look to purchase them from vendors rather than building their own.
A New Look for Talent Acquisition: New technology has aided companies in building recruitment management systems that handle everything from ad management, sourcing, and online interviewing, to analytics, and candidate scoring. With competition for skilled workers being fierce today, recruitment and talent acquisition is of utmost importance and new tools designed to help are causing a dramatic shift in the search for talent. The rise of the gig economy has also led to new recruitment challenges, which will serve to create more opportunities for technology to streamline processes and connect organizations with talent from around the globe.
An increase of wellness and fitness apps: It is expected that tools and platforms that manage wellness, employee activity, work-life balance and personal performance are expected to grow in 2017 rapidly. In an increasingly connected world thanks to technology, the work-life balance line can often be blurred. Thus, organizations will need to continue to support their employees’ health and wellness in order to create a team of engaged, productive workers. This includes wellness offerings such as mindfulness, dietary support, and psychotherapy sessions available at the touch of a smartphone screen via new apps in the wellness marketplace. Health and wellness is a topic that is now in the spotlight, and rightly so, as employees who have a high degree of work-life balance are twice as likely to stay in their current job and are highly engaged at work at a rate of four times more than those with a low degree or work-life balance.
Growth in Contingent Workforce Management: Contingent workforce management is also on the rise this year. This market, which includes software for vendor management, we all as tracking and scheduling systems is highly fragmented with only a few large market leaders. As the percentage of employees who work part-time or on a contingent basis increases, the growth in this market is likely to continue.
Improved Learning Experiences: With new technology, say goodbye to boring PowerPoint presentations. Many learning platforms are being introduced such as Udemy, Skillshare, and edX. These platforms, which allow employees to choose what, where, and when they want to learn provide an entirely new way of picking up new skills or fine-tuning current ones.
Learn more on how HR Tech will affect the working environment at http://hr-gazette.com/will-hr-tech-5-years/