Technology has radically transformed the way businesses manage human resources. Factors like economy, globalization and increasing competition are making organizations get out of their comfort zones and employ novel HR practices. Questions like how do you hire faster, control costs and optimize workforce activities have always put pressure on organizations. According to a recent report, common HR related challenges faced by most of the organizations are retention and engagement, re-skilling of HR, talent acquisition and access and revamping of performance management.
But now, with the advent of innovative technologies and its efficacy in this domain, organizations are setting up systems that will help them engage and make more informed decisions regarding their workforce. The influx of technologies like cloud, mobile, social media, big data and analytics in different HR processes have streamlined and automated workforce acquisition and management. This explains why, as per a research report, 60% of organizations are more inclined towards employing human resource information systems.
To give you a true sense of the same, we have mentioned below the utility of these new generation technologies in this domain.
Big Data and Analytics
For employee engagement and retention, organizations are leveraging the power of big data and analytics. With the use of crucial data on employee remuneration, performance, learning and development, organizations are building processes and strategies that will help them focus on employee welfare. Moreover, analysis of this data enables organizations to draw a connection between employee efforts and business success which helps enhance performance management.
Social media tools such as Twitter, LinkedIn, Facebook and others are changing the face of recruitment and turning it into a strategic function focused on marketing and branding. In addition to this, integration of social media in management tools allows seamless communication among employees within the organization. This social cooperation paves new avenues for employees to work together and share knowledge which can help the business to grow. Though in the nascent stage, if implemented, this practice can improve workforce productivity.
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