The growing market complexity, diverse consumer expectations, geo-political dynamics and the changing workforce etc are enormously affecting they businesses work. Businesses vision has gone wider with time and apart from mere earning profits they want to excel on the scale of customer satisfaction, create an environment of learning & development, thinking over the edge to mitigate its challenges.
However, in this entire scenario the need for good calibre People have remained consistent. The search for People with right talent has grown with time to lead businesses in crucial times. Thus, to manage the growing demand, HR industry is evolving technologically for workforce management and branding demand
Being a leading HR Consultancy and Advisory organization GlobalHunt India Pvt Ltd through its internal research lists down certain technologies which are increasing adopted and implemented in the HR processes in current times.
- Talent Analytics has become one of the most popular tools of HR segment now days. It refers to the prediction of employee performance, attrition and cost with the application of statistics and technology to large people related data sets. This helps in making better strategic planning and decisions for the company. The major benefit of talent analytics lie in finding the right candidate for particular job profiles. Understanding the knowledge gap within an organization, chalking out the right profiles to hire, short listing and selecting the right candidates while making it cost and time effective at the same time is the true essence of talent analytics. Some of the market best talent management software includes Synergita, Kenexa, Cornerstone Talent management and such like.
- Cloud Computing is another technology that is revolutionizing HR segment in recent times. It has been contributing significantly towards productivity of employees and strategic planning. It helps in gaining faster access to innovation. It has differentiated itself from on-premise software in an effective way as it provides software release updates automatically. It is one of the simplest technologies used until now. Furthermore it is very flexible which allows remodelling quite easily providing the benefits of in-premise software. Some of the cloud computing software are Oracle Taleo Cloud service, Datis, UltiPro and such like.
- Human Resources Management System (HRMS) is the ultimate of all the HR based technology innovations of all times. It can be defined as the systems and processes in between the human resource management and information technology. HRMS is the merger of basic HR activities and IT. It is an all round system that encloses recruitment and retention, management and administration, HR planning, knowledge management through learning, analytics, feedback and communication management and employee self service promotion. It also handles certain repetitive backend process like payroll management, attendance tracking, time sheet management and so on. These processes unlike recent times took a lot of time, effort and resources. But now these have been automated to minimize errors and increase efficiency. Patriot Payroll, JobDiva, Bullhorn Staffing and Recruiting Software, ApplicantStack are to name a few of popular HRMS software.
The technology innovation is producing to be quite cost effective and efficient wherein they are reducing time and energy to manage big data.