Role of Technology in HR Industry

By VARINDIA - 2019-07-12

Role of Technology in HR Industry

A survey on the ‘Future of Workforce’ claimed that the HR function is the most vulnerable to be replaced by automation. If one were to look at the historical impact of technology, the claim feels removed from the truth. What technology has historically done across functions-replacing labour-intensive jobs in the immediate future to create new kinds of jobs in the long run- it is set to do the same for the HR department as well. In fact, A 2019 HCM Trends report from The HR Federation states that global HR technology venture capital reached $3.1 billion in 2018, more than triple the amount invested in 2017.

 

Tech in HR Operations

 

Powered by the new wave of technologies such as Automation, Digitisation, ML and AI, the HR industry has developed efficient and data-driven operations solutions with predictable ROIs, an indication of the graduationof the role of the HR from an administrative and compliance department to key decision and impact maker. Some of the majortrends to have emerged include:

 

Process Automation

 

Laborious tasks like employee onboarding have been transformed with Robotic Process Automation so that repetitive jobs like creating records, documentation and adding employees in payroll systems can be made quicker and hassle-free.

 

Learning and Development

 

Employee training programs have become digital and catered to individual needs. These programs use interactive AI and AR/VR solutions as well as gamified L&D systems to ensure participation. It is also possible now to measure their effectiveness against clear ROIs and goals.

 

HR Analytics

 

Data-driven decisions around promotions, compensation, training, employee retention and agile cross-functional team staffing can be taken with the help of HR analytics. Sentiment Analysis based on sentiment data generated through hundreds of interactions between managers and employees is also not unheard of in today’s time.

 

Talent Management

 

With HR Tech, companies are making way for dynamic goal setting, regular performance check-ins and crowdsourced feedback. This kind of engagement, with data analytics to back it, makes employees feel more engaged and helps retain them.

 

Recruitment

 

Predicting workforce demand and attrition, searching for the right candidate, primary screening and interviews can all be achieved at a few clicks with intelligent AI systems.

 

Background Verification

 

Digitization of information coupled with the latest technologies like Artificial Intelligence, Machine Learning, elastic and deep search etc. has opened new possibilities in background verification. We, at AuthBridge, have embraced technology for driving innovation. Today, we can deliver Instant Identity Authentication, Real-time Criminal Background Check (through our registered platform VAULTTM), Education and Employment Verification. Technology has enabled the creation of proprietary databases and powerful search engines to scrape millions of data-points to generate precise results. Our in-house field staff managing application (FieldKart) has brought accountability and reliability in operations,especially in Physical Address Verification. Most importantly, technology has made it possible for us to deliver better data security and compliance to our clients, two crucial pillars of success for any business.

 

Technology is learning to be humane

 

Conventionally, the HR departments have relied on human judgement in understanding employees and their emotions, motivations, behaviour and complexities. While automation for operational tasks starteda long time ago, the new-age technology powered by Artificial Intelligence and Machine Learning is now ready to enable the HR department to make data-driven conclusions in relation to the nuance of human emotions and psychology as well. This technology is changing the ecosystem of the HR world and making it function in a way unimaginable a decade ago. Be it direct roles of learning and development, payroll management, onboarding, employee engagement or outsourced services like employee background screening, HRMS etc., technology has empowered the HR domain like never in the history before.

 

The future of HR Tech looks bright

 

The global human resource management (HRM) sector is projected to reach $30 billion by 2025. The McKinsey Institute estimates that by this same time the global economic impact of AI will be somewhere between $7 and $13 trillion. With timely investment and right tech education, the HR function will be able to move beyond the mundane to create business efficiency. The successful HR leaders of the future will have a seat at the high table that they can use for a dialogue on the future of work, which is not expected to be linear butadaptive of thegreat needs of the new generationto grow across industries, verticals and departments. The future of HR holds an amalgam of tech with human capabilities and it’s time for HR leaders to embrace this future to build their own.

 

Ajay Trehan
Founder & CEO - AuthBridge Research Services Pvt. Ltd


 CIO  - SPEAK
 MORE  FROM WEB
 LEAD STORY
 SOFTWARE  Placeholder image
LTI wins a multiyear IT operations deal with Hoist Finance AB

LTI wins a multiyear IT operations deal with Hoist Finance AB

Larsen & Toubro Infotech has won a multiyear engagement with Swedish financial service...

Ramco Systems joins hand with NelsonHall to launch Digital Payroll Maturity Assessment Tool

Ramco Systems joins hand with NelsonHall to launch Digital Payroll Maturity Assessment Tool

Ramco Systems together with NelsonHall, a leading global research & analysis firm, ann...

GreyOrange announces Fulfillment Operating System driven by GreyMatter Software

GreyOrange announces Fulfillment Operating System driven by GreyMatter Software

GreyOrange releases its Fulfillment Operating System, which integrates GreyMatter software...

VARINDIA SIITF
SOUTHERN INDIA INFORMATION TECHNOLOGY FAIR (SIITF) -2018
BANGALURU
VARIndia - Star Nite Awards
STAR NITE AWARDS(SNA) - 2018
NEW DELHI
VARINDIA - OITF
ODISHA INFORMATION TECHNOLOGY FAIR(OITF)-2019
BHUBANESWAR
VARINDIA - WIITF
WESTERN INDIA INFORMATION TECHNOLOGY FAIR(WIITF) - 2019
MUMBAI
 INDUSTRY EVENTS Placeholder image
EverestIMS exhibits the Infraon Product Suite at DTA 2019 - Malaysia

EverestIMS exhibits the Infraon Product Suite at DTA 2019 - Malaysia

EverestIMS Technologies has participated at the TM Forum's Digital Transformation Asia...

ISPP organizes "Practitioner's approach to Public Policy" lecture

ISPP organizes "Practitioner's approach to Public Policy" lecture

The Indian School of Public Policy (ISPP) organized a first of its kind lecture series tit...


Copyright varindia.com @1999-2019 - All rights reserved.
Reproduction in whole or in part in any form or medium without express written permission of Kalinga Digital Media Pvt. Ltd. is prohibited.
Other Initiatives : www.mybrandbook.co.in | www.spoindia.org

advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription