Technology And The Impact On Human Resource Development
“Human beings are Social Animals”- An age-old adage brought to reality by the Technology of today.Technology has transformed the experience of being human. From experiencing life, information, events, content, education, learnings, jobs, Industry, business & economy; it has impacted our absorption, processing, focus and impact prowess.
Human Capital and Talent Management have emerged as huge streams with companies investing millions to create the next big Product & high performance structures.
As a result of multiple Tech and tools being used in HR, the focus has shifted from traditional logistics & operations to achieving Business goals. Business changes have forced HR into more project or contract based hiring. Companies prefer the demand and pay based models and the location of work has become ubiquitous for knowledge oriented resources. Companies like Mount Talent have enabled provision of such demand based talent. The impact areas cover everything from Hiring, Employer Branding, attracting, managing work instead of attendance, performance management & rotation of resources.
According to the 2019 HCM Trends report from The HR Federation, a network of leading HR market analysts, global HR technology venture capital has topped $3.1 billion this year, more than triple the amount invested in 2017. While there’s a range of technologies, some of the most interesting — and disruptive — examples are powered by artificial intelligence and automation.
Smart Recruitments
Recruiting has been a highly operational & time-consuming activity, but with smart job boards, targeted messaging, automated resume screeners to robot interviewers, a wave of tech solutions for recruiting has hit the market. With AI, you can find better fit and skilled people for your job roles. It can also help in gender diversity and crafting the company culture. Big Data & Analytics could reveal in advance where best to place your recruitment marketing campaign for optimal
performance and cost. In hiring, Analytics could help in Identification, qualification and prediction of future performance of a candidate before the hiring decision. In simpler words, talent analytics could help identify the one more likely to succeed, and his or her time to maturity for success.
Employee Systems of Engagement
Technology plays a great role by enabling sourcing, tracking, engaging, on boarding, managing payroll, work & productivity of people. All data is on cloud and way more secure and can be used for Analytics for multiple performance trends. It saves a lot of cost, time, space and brings more efficiency & transparency. It also helps in the correct assessment of skills for movement across job demands and locations. Engagement & Retention by measuring factors that drive engagement, satisfaction and motivation, predictive analytics could effectively transpire into a retention strategy. Who is going to leave, when and why? How can we make them stay? Is it worth it?, apart from answering many other questions.
Performance & Productivity Analytics
This has been one of the most complex human processes but technology has streamlined the process by enabling better analysis of employee data. This however still requires customisation for data collection, process analysis and workflows which is where smart human intervention is required. This is an area which is witnessing the biggest shift of HR from operations to strategic thinking. The Job role is way more advanced and challenging since it involves solving key people problems which impact business decisions.
Technology for Global Workforce
Using technology for work assignments and measurements can be put to place for highly effective and collaborative 24x7 global operations. Companies benefit through global teams working in parallel and in more effective manners bringing about the best of the world in terms of quality, creativity, costs and excellence.
Learning Management
Tech is filling the gap in development, a method to close them, and the learning needs for teams in the future. Meanwhile, virtual and augmented reality will continue to mature and find its way into the workplace environment. For example, Microsoft is preparing the launch of the Hololens headset which will likely be embraced by human resource professionals in the not-so-distant future. This type of technology is primed for disrupting talent management and productivity. We can envision the potential of virtual reality in enterprise training and learning, where employees can use it for anything ranging from off-site assignments to corporate training.
Succession Planning & leadership
Technology is being used to identify people to be groomed for leadership positions. Additionally, what gaps can be predicted in the coming years to identify leaders more swiftly?
Many companies have enabled enterprises to hire people on the go & designed custom HR Tech for multiple impact areas including recruiting, learning & productivity platforms. In the next Technology wave, Blockchain couple with AI shall be used in HR with common services & improve efficiencies. As more Industries begin to leverage blockchain in multiple functional areas, new opportunities for better human capital management will likely occur. This trend is one to watch.
Employee Systems of Engagement
Technology plays a great role by enabling sourcing, tracking, engaging, on boarding, managing payroll, work & productivity of people. All data is on cloud and way more secure and can be used for Analytics for multiple performance trends. It saves a lot of cost, time, space and brings more efficiency & transparency. It also helps in the correct assessment of skills for movement across job demands and locations. Engagement & Retention by measuring factors that drive engagement, satisfaction and motivation, predictive analytics could effectively transpire into a retention strategy. Who is going to leave, when and why? How can we make them stay? Is it worth it?, apart from answering many other questions.
Performance & Productivity Analytics
This has been one of the most complex human processes but technology has streamlined the process by enabling better analysis of employee data. This however still requires customisation for data collection, process analysis and workflows which is where smart human intervention is required. This is an area which is witnessing the biggest shift of HR from operations to strategic thinking. The Job role is way more advanced and challenging since it involves solving key people problems which impact business decisions.
Technology for Global Workforce
Using technology for work assignments and measurements can be put to place for highly effective and collaborative 24x7 global operations. Companies benefit through global teams working in parallel and in more effective manners bringing about the best of the world in terms of quality, creativity, costs and excellence.
Learning Management
Tech is filling the gap in development, a method to close them, and the learning needs for teams in the future. Meanwhile, virtual and augmented reality will continue to mature and find its way into the workplace environment. For example, Microsoft is preparing the launch of the Hololens headset which will likely be embraced by human resource professionals in the not-so-distant future. This type of technology is primed for disrupting talent management and productivity. We can envision the potential of virtual reality in enterprise training and learning, where employees can use it for anything ranging from off-site assignments to corporate training.
Succession Planning & leadership
Technology is being used to identify people to be groomed for leadership positions. Additionally, what gaps can be predicted in the coming years to identify leaders more swiftly?
Many companies have enabled enterprises to hire people on the go & designed custom HR Tech for multiple impact areas including recruiting, learning & productivity platforms. In the next Technology wave, Blockchain couple with AI shall be used in HR with common services & improve efficiencies. As more Industries begin to leverage blockchain in multiple functional areas, new opportunities for better human capital management will likely occur. This trend is one to watch.
