As technology continues to advance, more and more companies are realizing the importance of using tech to improve their human resource processes. Today, the HR tech market is estimated to be worth about $400 billion.
As an employer, this creates a great opportunity to invest time and money into improving your company’s HR technology stack. But before you do, you need to make sure that you are investing it in the proper tools. HR tech solutions are experiencing several of these trends in 2020.
Simplified AI-Based Systems
Artificial intelligence has been at the forefront of human resource technologies for a few years now. This trend is expected to continuously increase in popularity. However, the focus is somewhat shifting from “What can AI accomplish?” to “How can we make AI implementation and usage as effortless as possible?”
If companies are able to effectively introduce AI-powered systems into their HR departments without going through long and difficult transition periods, then they can gain a ton of value. For example, AI can help cut back on hours spent on job openings, candidate matchings, and much more. Because of the increased need for smoother implementations, you can expect systems that currently use AI to become more simplified. They will still maintain the same functions, allowing for departments to maintain continuity.
Omnichannel Communications Systems
The demographics of the workplace are actively changing, with 61 million Generation Z employees expected to have entered the workforce within the next few years. Plus, there are already millions of Millennials who have been in the workforce for quite some time. This combination of Millennials and Gen Z employees is driving interest in omnichannel workplace communications.
They want to be able to go on to their employee app, text messages, emails, and other types of communication and without having to struggle picking up where the workplace interactions left off. Instead, it should be all synced together as a singular experience, no matter what device they are using.
Hiring or Training Tech-Savvy HR Employees
Since HR employees are going to be the ones who largely use this technology, they will obviously need to know how to use it in a way that most effectively benefits the company. That is why a lot of businesses will spend a lot of money on the hiring of tech-savvy HR employees.
Some employers will invest time and effort to make sure that their HR employees are properly educated on the best practices of using this upcoming tech. Training isn’t just an easy switch to flip, it will require a department shift in work styles. This makes it a trend that requires a lot of resources to fully embrace.
Organizational Guidance Systems
A lot of organizations have begun to incorporate predictive analytics into their business. In 2020, human resource technology is expected to supplant this with the development of organizational guidance systems.
The role of this technology is to document and track all of the company's HR goals and past performances. Then it should come up with strategies or objectives that the company will need to complete if it wants to be successful.
Improvement of Virtual Workspaces
There are currently a lot of issues surrounding how to actively engage remote employees. The number of people working from home was naturally growing larger every year. As the COVID-19 Pandemic provides an outside force towards this remote work trend, the problem is only going to get bigger.
There is a lot of money being invested in further developing virtual workspace technology to make it easier for employees to do their work outside of the office. Communication tools can help employees conduct one-on-one and group meetings. Instant messaging, a tried and true technology, is becoming even more popular. Companies are making sure employees are comfortable and productive, no matter where they are.
You can expect these HR tech trends to dominate the industry in 2020. Find out other ways that you can easily improve your HR processes. Download our guide for questions to ask your internal communications stakeholders.