Companies today must contend with a broad range of challenges due to the fast-paced growth of technology and its transformation of the way they operate, including the way their human resources departments function.
To be competitive in a global business climate, companies need people who have the expertise to optimize technology. As new technologies emerge, the demand for highly educated, skilled HR technology professionals is expected to grow.
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The list of robust new technologies changing the way HR departments operate is extensive and constantly growing. Five demand special attention.
- Artificial intelligence is helping businesses identify direction and improve decision-making. Using large amounts of data and machine learning, AI can enhance employee engagement, identify and remove unconscious biases in the workplace, streamline employee recruitment, and design employee healthcare plans. According to an article in HR Technologist, AI is being used more and more to support HR and talent management functions.
- Industry experts predict that businesses will accelerate their movement of core HR systems to the cloud, including payroll, talent management, and financial and other ERP offerings. A 2017 study from PwC (PricewaterhouseCoopers) found that 73% of companies surveyed had at least one HR process in the cloud. For those still using on-premise applications for core HR, nearly one-third were actively planning to move to the cloud over the next 12-18 months.
- Augmented analytics is an emerging tool designed to enable HR teams to examine people data in a more comprehensive way, says the same HR Technologist An augmented analytics framework can sift through a company's data pools, evaluate the information, and offer specific steps that HR teams can take to achieve specific goals.
- Blockchain, also described as distributed ledger technology, is fundamentally a database that maintains an expanding list of records, as defined by Net at Work. The technology lets information be distributed, but it cannot be copied. Potential uses of blockchain for HR teams include solving certification issues; increasing transparency; improving overseas electronic payroll, cyber security and fraud prevention; and automating processes. It also allows digital process management.
- People analytics is a technology that makes it easier for HR organizations to integrate workforce data into their decision-making, according to "What's Next in HR Tech? 12 Industry Experts Weigh In" published on Forbes. The ability to gain better insights to inform tasks such as succession planning, career mobility, retention strategies and talent acquisition, as well as learning and development programs, surely will increase the effectiveness of human resource departments.
Earning an MBA in Human Resource Development from Pittsburg State University is an investment in success. Graduates gain the expertise and tools they need to assume an executive role in this vibrant and growing arena.
Sources:Forbes: What's Next in HR Tech? 12 Industry Experts Weigh In
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