5 Reasons to Incorporate HR technology into your business
Technology is advancing at a fast pace, and digital innovation has influenced every aspect of our workplace.
We have watched traditional marketing turn to digital marketing, physical sales meetings turn to online sales meetings, and now, technology is slowly infused into the human resource industry.
Recently, there has been a rise in many tech start-ups placing an emphasis on the advancement of human resources. Even though some bigger companies are in the industry, smaller HR tech companies are still growing quickly and entering the field. The relationship between human resource and technology is vital as it ensures the overwhelming processes are handled more efficient and effectively. These HR tech companies have been helping to solve some serious organisational challenges in managing and engaging employees, leading to a better business.
There have been many HR tech companies with creative systems and operations popular among companies.
First, the HR tech start-ups have built user interfaces that deliver a consumer-like experience that is friendly and welcoming for employees or even job applicants. It is also crucial to realise these interfaces must include mobile and social capabilities. Second, the cloud technology has been very popular, as it helps to create massive economies of scale for HR customers, allowing the reduction of excess resource involvement.
Third, technology that allows the workforce to keep track and respond to changing market conditions has succeeded. Companies like to see visible information in a system and enjoy the flexibility of adapting to different situations. Next, feedback mechanisms are getting increasingly popular. Feedback mechanisms have proved to improve engagement of the employees and consistently motivate employees as they feel more involved in the company. Last, new technologies that can be integrated into present business processes are definitely popular among companies.
An example of a popular HR tech company dominating the industry would be Glassdoor. The company was founded in 2007 and is ranked as the Top HR Tech Company on CB Insights in 2015. Glassdoor provides job-seekers with in-depth information about prospective employers, including potential interview questions, pay, and workplace culture. It has increased transparency by providing an opportunity to rate employees. Last year, the company received a $70M growth equity round in January from investors, including Google Capital and Tiger Global Management.
Other than the dominants in the industry, we must not forget the up and coming companies. The annual HR Tech Conference was held in Chicago on October 4th, and a couple of interesting companies participated.
One interesting company would be Clickboarding – the company’s onboarding solution streamlines the onboarding process and makes onboarding an easy, enjoyable experience. The platform allows HR to manage checklists, share tasks with others, and manage all the required application forms. Everyone involved has visibility into what they need to know and all can take action on what really needs attention.
Another company that uses successful HR technology would be Highground. Highground offers a cloud-based employee engagement platform to help companies build highly engaged and high-performing cultures through continuous feedback, ongoing employee development, and real-time recognition. Companies can capture the voice of the employee and turn annual performance reviews into meaningful, ongoing coaching conversations.
Despite this trending wave of HR tech, organisations appear to have lost sight of the need to progress their human resource department to be as modern as other departments. HR tech will soon catch up with marketing and operations technology advancements and organisations must realise that before it is too late. Many decisions have been made more quickly from today’s advanced data collection and marketing predictions. It is also time to change the old-school HR ways and allow the human resource industry to advance.
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