The unprecedented global events of recent years have driven rapid technological progress across every business sector. Every organisation is now digital and dependent on technology to ensure their employees are productive, efficient, and happy.
What is HR technology?
HR technology refers to the software, systems, and tools used to manage and optimize human resources (HR) processes. It’s a booming industry, valued at $23.32 Billion in 2021, and projected to reach $38.36 Billion by 2030.
With key players HCM vendors including SAP, Oracle,Workday, Ceridian, with HR capabilities typically covering:
- Recruitment and ATS
- Performance management systems
- Payroll processing systems
- Employee Experience Platform
- Learning Management Systems (LMS)
How HR technology can help your business
Digital disruption is now the norm. To keep pace with ever-evolving work practises HR technology offers innovative solutions. From attracting and retaining employees, and facilitating hybrid work to maintaining productivity levels. The right HR technology investment helps organisations stay competitive, attract top talent and drives business value
The trends for HR technology in 2023
There’s no doubt the way we work has changed. The dependence on a more digital environment has challenged conventional ways of working and has led to an increase in the demand for new tools that support flexibility and agility.
Employee experience has been a hot topic in recent years. A trend that’s set to continue in 2023, with 47% of HR leaders making it a top priority according to Gartner.
Other trends for 2023 identified by SHRM Online include:
- Creating internal talent marketplaces
- Optimizing investments in existing systems
- Supporting hybrid work
- Expanding the use of artificial intelligence (AI)
Does your HR solution have the capability to align with any of these initiatives?
If not, read on for some quick, effective ways you can extend and optimise your existing HR technology to meet the growing demand for a fully digital workplace.
The one-size-fits-all debate
Many organisations have turned to out-of-the-box HR solutions for their digital transformation. While they appear to be the perfect fit, the reality is that every business has unique needs that a one-size-fits-all approach just can’t fulfil.
These HR solutions always come with certain limitations but getting answers to these key questions can help you to identify where your tech solution falls short:
- Does your existing HR technology enable your strategic HR goals and objectives?
- Is your system able to adapt quickly to new ways of working or changes to your operating model?
- Are you able to deliver personalised employee experiences to your workforce through your existing tech?
- What processes, if any, are still being handled manually?
- What challenges or frustrations do employees experience with your HR solution?
- What business drivers can be identified where new tools, processes or devices can be introduced?
There may be elements that work well but other areas where system bottlenecks or poor user adoption are evident.
It’s crucial to measure your system’s performance against your unique business goals. Identify if your issues are due to inadequacies in your chosen technology, system integration issues, or whether the platforms are being used to their full potential.
Extend your HR solution with low-code/no-code technology
What we’ve seen with a lot of clients is that a deep dive into their existing technology ecosystem quickly reveals the glitches. Leveraging that information, we design solutions that are highly-adaptable as new policies, emerging technologies, and employee expectations evolve. Making HR a key driving force behind an organization’s success.
One of the platforms we use continuously to achieve this is Outsystems. A game-changer in rapidly deploying apps and cutting-edge HR Technology. A recent Forrester Consulting study found that “OutSystems high-performance low-code platform has a ROI of 506% and pays for itself in just 5+ months.”
Low-code options like Outsystems integrate seamlessly with your existing HR infrastructure and speed up the deployment of digital-first solutions through pre-built connectors and simple drag-and-drop creation.
Some of the digital-first experiences you can extend your HR solution with include:
- Collaborative talent experience platforms
- Automated employee onboarding experiences
- Employee self-service integrated with chat tools
- Micro learning in the flow of work
- Performance management systems
- Persona-based candidate and employee journeys
- Health and wellbeing nudges
- Reward and recognition badges
- HR helpdesk service management systems
Remaining competitive can seem daunting in the face of changing market dynamics and emerging trends. But using innovative technology solutions and personalised features to fix fragmented HR processes, gives you a better return on your initial technology investment. The subsequent shift to a more people-centric solution leads to greater employee experience.
If you’d like to chat to an expert about your HR technology needs or to discuss opportunities to optimise your existing HR solution with Outsystems technology, get in touch @ HRTech@baselinked.com