HR Tech: What You Need To Know NOW! – PART TWO

As we continue our showcase of the latest in HR tech, you’ll start to get the picture of the disruption the industry is seeing at the hands of a host of exciting and game-changing technologies.

Here are three trends gaining significant traction. If you’re keen to see the other trends we’ve already written about, click here.

Otherwise, hold onto your seat. Things are about to get real.

People Analytics:

  • Organisations have moved from back-office HR data warehouses to advanced analytics and reporting dashboards to predictive models and much more
  • companies are slowly moving away from building their own solutions to buying them from vendors. Oracle, SAP SuccessFactors, Workday, ADP, Cornerstone, Visier and Ultimate Software all have employee retention predictors (among many other modeling features) embedded in their software
  • New approaches for applying feedback and models of performance management have also emerged. One company, Starling Trust, offers a system that can analyse patterns of email and other communication to build ‘trust networks’; it can actually predict where a security leak or fraud is likely to occur

 

A new approach to talent acquisition

The talent acquisition market in the US alone, is estimated to be worth $240billion (Bersin by Deloitte). The tools helping companies include:

  • Find strong job candidates
  • Market and brand themselves
  • Post and distribute job postings
  • Manage and interact with job boards
  • Conduct prehire skills assessments
  • Perform background screening and psychological testing
  • Interview candidates
  • Manage the entire complex process from end to end via applicant tracking and recruitment management system

Today, a new breed of platforms, including those from vendors such as SmartRecruiters, Lever, Greenhouse, Gild and others, have started from scratch, building end-to-end recruitment management systems that handle everything, including sourcing, ad management, analytics, online interviewing, interview management, candidate scoring, ongoing candidate relationship management and onboarding.

Accelerated, Automated HR:

  • HR technology is making bold advances into artificial intelligence, natural language processing and robotic process automation. This huge area covers products that can listen to our voices (such as Amazon Echo, Siri and Viv), augment call centre work and connect many systems into a new workflow
  • Artificial intelligence tools, robotic process automation and self-service transaction integration can facilitate a total redesign of the employee experience, dramatically reducing costs and improving the value of HR
  • IBM, for example, now has an artificial intelligence application that helps employees do their own onboarding, finds nearby employees as mentors, and addresses the top 200 questions employees ask in any new position. The entire experience is driven by a natural language bot and has proven successful in driving employee engagement

 

And if you’re in Sydney, why not register for next week’s ATC, Contingent Workforce Conference. It’s a must-attend event, this year the focus is on Total Talent Management, and the new era of people engagement.

BUT…… if you can’t make it, register here, and we’ll send you our live updates, news feeds and plenty more.

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