Future of HR Technologies and Trends: What's Up and Coming in 2019

The HR Technology market is fascinating. Don't you believe me, I am sure you will believe the data. According to a report by Grand View Research Inc., the global Human Resource Management market is expected to reach USD 30.00 Billion by 2025.

Besides core cloud-based HCM systems, the year 2019 will see billions being invested in new tools for Recruitment, Performance Management System, Analytics, Training, Engagement etc.

Future of HR Technologies and Trends

New solutions for agile, video learning and interviewing, AI-based coaching, intelligent chatbots, and smarter analytics are hitting the market every day and their user interface, ease of use, and intelligence is moving faster than ever.

So where is all this going? Actually, we are moving to a new era, an era where best HR Software is no longer an automation system but a true “System for Productivity”. It is also the beginning of a period where the power is shifting from the employer to employees.

With so much advancement around us, 2019 seems to be a period to adopt this HR technologies and applying them to build powerful HR strategies. Few trends that will take the HR technology in 2019 by a storm are:

1) Artificial Intelligence / Machine learning

With Siri, Alexa, and Google Assistant getting popular among users, AI is soon expected to make it place in the HR world. In fact, Unilever has already started using Artificial Intelligence to hire employees for the entry-level position. It's here to say goodbye to all the traditional method of scanning thousands of resume, scheduling interviews and then spending weeks to finalize a candidate. The use of smart HR software will drastically reduce the time to hire. The extensive use of powerful algorithms and data-driven insights will reduce the chances of human bias and error by solely focussing on the deserving candidate.

2) Visual Storytelling

One of the most underrated tools used for recruitment is Visual Storytelling. According to Jon Thurmond HR manager at Team Fishel, “ Video Storytelling to engage candidates in recruiting will be important in 2019”. In fact, according to a data Glassdoor, job postings with interactive videos are view 12% more than the one without videos. Also, companies receive a 34% greater application rate when they attach a video to their job posting.

3) Wearable Technology

Wearable technology can be used to monitor workplace health. For environments with high-pressure, this could have a great impact. Wearable technology can track heart rate, body temperature, pupil dilation, and other factors to provide insight about employees stressors and pain point. Management can study these reactions and change the processes accordingly. An ideal workplace wearable would be the one that could identify the optimum time to send a notification.

4) Gamification

Gamifying HR management? Seriously..!! Now how can that be done? Glad you asked. The concept uses triggers to motivate the employees to give their best performance. These Gamification programs can also be loyalty programs in disguise with chart scores, leaderboards, and achievement badges. Gamification will create a fun kind of environment which will help employees to crack problems with a greater ease. It will also strengthen Team Management and synergy.

5) Natural Language Processing

NLP can help in multiple aspects of HR - not just hiring. It can be applied to leadership incentive programs, employee feedback surveys, chats etc to gain a deeper insight into what employees think and feel about their workplace. It can be best used with Voice Activated Systems, Consumer Digital Assistants, iPhones etc. NLP not only ensures that the employees are satisfied, but the system can also be used to ask question-related to data within the business. NLP can be used for PTO inquiries, payroll information, and Budget spending.

6) Analytics

I am sure some kind of Analytics is already integrated into the HCM system you are currently using. However, this will be entirely different from the ones you are going to encounter in 2019. The latest HCM solution will allow HR to delve deeper into the employee's lifecycle such as turnover statistics, performance and the effectiveness of leadership strategies. This insight will be helpful in identifying issues such as inequality and hiring.

Bottom Line

HR software has and will continue to evolve rapidly over the years to come. With 2019 coming closer it is important that you review your existing HRM system. Now is a good time to make sure that your software is doing enough for your business. Just because the product was a perfect fit 5 years ago doesn't mean it will still satisfy your company needs today. The competition to hire the best talent in the industry is fierce and if you want to hold your position tight make sure you don't miss out on these important trends.

Future of HR Technologies and Trends: What's Up and Coming in 2019 Future of HR Technologies and Trends: What's Up and Coming in 2019 Reviewed by TechGlobeX on 12/17/2018 Rating: 5

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