The upcoming ATC Contingent Workforce Event, is almost upon us. This is the premium event in Australia, for ANY business that manages contingent workers.
As part of our involvement, Paul Chiswick, CXC Global’s Director of Corporate Solutions, will discuss the ubiquitous market disruption that is HR tech. Together with a panel of experts from Aveture, Adepto, Weploy, LiveHire and Bench, the discussion will focus on how companies are leveraging disruptive technologies to maximise talent engagement across their total workforce.
So as a prelude to what we’ll learn from the session, and given the enormous amount of intel in the market around HR tech, we’ve got a three-part series for you, starting today.
In each part, we’ll look at different emerging trends & impacts of HR tech, as your 5 Minute Friday read.
You might want to bookmark these points…
Or share them in your business…
Or start a conversation about how you can leverage technology for YOUR people….
HR Tech: what you need to know NOW!
Starting with three trends that are getting plenty of airtime today…
- Cloud Centric Performance Management
These systems connect to HR management reporting and enterprise resource planning, and can include features such as…
– Manage performance by team, rather than only by hierarchy
– Make goals transparent and easy to change and track
– Feature check-in mechanisms
– Have built-in pulse surveys, end-of-period surveys, and ad hoc feedback presented via tags and word clouds
– Incorporate development plans that are prepopulated, simple to build and based on data derived from employees in similar roles
– Can be used with gamification making them engaging and browse-able
– Integration with employee directories and other HR tools to become part of everyday work
- Artificial Intelligence
Some ground-breaking statistics…firstly, from Hays.
– 23%, of Australian employers say they now employ temporary or contract staff on a regular ongoing basis, with automation and AI contributing to the rise
– 44% of Australian firms employ temporary and contract staff for special projects or workloads. In the next 12 months 23% expect to increase their use of temporary and contract staff
– this increase will be greatest in IT departments, where 37% of employers will increase their use of temporaries and contractors. The use of temporary and contract staff will also rise in 32% of Project Management and Purchasing/Procurement departments as well as 30% of Marketing departments, and 28% of Engineering departments
– robots and AI are expected to also be used as another tool to help us do our job better, but with automation taking over routine tasks it is knowledge workers who are more likely to be needed in future
– Southeast Asia isn’t entirely positive about the emergence of AI: recent study found more than half salaried workforce in Cambodia, Indonesia, The Philippines, Thailand and Vietnam (137 million people) are at high risk of losing their jobs from automation in the next 20 years. The consequences for regional stability could be serious
– it’s expected the two powers that will benefit most financially – US & China – given they’re so far ahead, for Australia or any other nation to catch up will be near impossible
- The growth of contingent workforce management
There are two emerging markets that support this new way of working:
– The first is contingent workforce management systems, such as Fieldglass from SAP, Kronos, Beeline, PeopleFluent, Workday and many others. This sector, which includes software for vendor management, as well as time-tracking and scheduling systems, is highly fragmented with only a few leaders
– The second market is the gig-work networks that match workers to projects. There are dozens of such solutions, including Upwork, Freelancer, Fiverr, Workpop and many others. These platforms have morphed from job networks to recruiting and skills-management sites. Companies such as GitHub (for software engineers), Pixelapse (a collaboration platform for designers) and others are building similar tools for technical domains
Where does your business sit, in embracing the opportunity from HR Tech? Let us know in the comments….