Seven Technology Trends That Are Poised to Push HR Abilities to New Heights in 2017
Businesses today are leveraging the power of technology for efficiency, security, and convenience. With new advances in technology, automating your HR tasks is no longer as cost prohibitive as it once was. Instead, it becomes an indispensable tool for managing your most important resources, your employees, at an efficient price and pace.
“In the early days of cloud HR products, offerings from various vendors focused on best of breed functionality but within their respective silos,” states a senior technology consultant for Sure Power. “The market is no longer just small to mid-sized companies that have an immediate need for Performance Review, Learning Administration, or Recruiting solutions, but also big businesses that want to replace their aging and ineffective Core HR systems as well.”
Those HR technology trends which are positioned for the greatest development in 2017 include:
- Talent Development and Engagement – has become a critical business issue that is vital for profitability and growth. An aging workforce has forced three generations of employees to work side-by-side, making it more critical than ever to personalize how employees are managed and what rewards and recognition levers are appropriate. Personalized engagement and retention plans for all key employees include what each employee values in their work experience and hope to get out of their career path. Personality tests and team culture or compatibility indicators could soon be a standard within HCM solutions. Automated HR technology significantly advances your ability to effectively manage these challenges and deliver high impact HR solutions.
- The Demand for Tech Talent – Demand will continue to rise for tech talent in 2017. The need for cyber security specialists is soaring within the global cyber security market and is expected to grow more than 120% by the year 2020. The Washington based Center for Strategic and International Studies estimates the cost of cybercrime to the global economy at $445 billion annually. With the annual cost to the global economy expected to only climb higher, a company’s ability to hire tech talent may prove critical in their ability to survive in the online environment of the future.
- Cloud Based Software – The recent trend of migrating HR applications to the cloud enables organizations and their employees to realize increased flexibility and responsiveness in their day to day responsibilities. Managers can quickly process and route prospects and new hire paperwork, ensuring efficient approvals and improved turn-around times. Many systems offer built-in workflows to ensure the right people have the right information at the right time, while at the same time ensuring all company protocols are met. Recent research suggests that SaaS HR is poised to double within the next two years.
- HR Analytics – A recent survey found that only 58% of businesses are able to fully interpret analytics data, with a 3rd capable of only basic reporting. Employers with the ability to gather and analyze data effectively will continue to lead the way in developing robust talent acquisition and retention strategies in 2017. Companies who are looking for a competitive edge are discovering the benefits of utilizing analytics to gain data-driven insights into workforce trends, and taking action to refine recruitment, compensation and other performance incentives to meet employees’ evolving goals and interests.
- Security – Cloud-based document management systems enable enhanced protection of your sensitive documents, including contracts, personal records and legal and financial data. The anytime, anywhere access of these systems has more organizations leveraging cloud technology for their security needs. By using a secure online platform, businesses can continue to operate using any Wi-Fi enabled device – regardless of weather or other extreme conditions which would have otherwise inhibited normal business operations.
- Mobile Technology – According to a recent Gallup Poll, 1/3rd of employees are utilizing their mobile devices to access work after hours, while 96% of full-time employees in the United States say they use at least one of their own devices to access work-related content. Now more than ever, employers and employees are utilizing their phones, tablets and other mobile devices to stay connected to their work. Cloud-based systems offer the flexibility of anywhere, anytime access – so you can review a resume from the airport, or send an approval for a new hire from your remote office. Previous mobile HR systems have used web browsers to access cloud and SaaS software, but today the preferred choice of businesses is quickly becoming the app.
- The Internet of Things (IoT) – is described as billions of devices communicating through the collection and exchange of data. By 2020, it is predicted that upwards of 50 billion connected devices from coffee makers and cars, to factory based machines will be doing just that via the internet. By 2017, the ever growing IoT network will have employers looking at the viability of embracing wearable technology such as Fitbit® and Google Glass® to improve not only productivity but overall job satisfaction.
“What drives growth and profitability in a business? Highly satisfied and loyal customers.” Said H. Lockett Stewart, SVP of Advisory Services at Sure Power Consulting. “So the focus of any organization in a service industry needs to be on keeping those customers profitable by driving excellence in all the aspects of their operation that affect customer satisfaction. Not the least of which is equipping employees with the skills, technology and power to serve their customers. Case after case reveals that even a small jump in employee productivity can generate greater service value for customers which is linked to higher customer satisfaction and greater loyalty – which can boost profitability.
Senior Vice President Advisory Services, Sure Power Consulting
Resources – HRMS World, TriNet, HR Tech Central, HRN Blog, HRE online, Deloitte, HR DIVE
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