What kind of HR technology does your company currently use?
If you’re not sure, you’re far from alone.
Many companies haven’t updated their HR tech in a decade or more.
However, while that may have been acceptable in the past, new technology has arrived and is already changing the way many companies are able to leverage their HR departments.
3 Types of HR Technology That Will Improve Your Department
HR technology has been evolving incredibly fast in recent years and companies that have adopted this improved tech have benefited greatly.
Here are three examples that could soon do the same for your organization.
1. Flexible Payroll Platforms
Not too long ago, nearly half of all companies outsourced their payroll. Even experienced HR specialists didn’t want to deal with the complexities of managing payroll, to say nothing of the consequences involved with making a mistake.
However, with the rise of payroll software, many companies are embracing its many benefits and taking this task inhouse again.
One reason for this is the burgeoning gig economy. Companies that want to save money and enjoy greater flexibility by hiring freelancers need payroll platforms that can keep pace.
2. The Arrival of the Cloud
Given how long questions have persisted about the security of cloud storage, it probably shouldn’t be too surprising that this is one area of HR technology that was especially slow to evolve. After all, many of the records HR keeps are tied to some of the most sensitive forms of employee data the company has.
That said, the cloud’s omnipresence in just about every other area of our lives (at least where technology is present) seems to have convinced the industry as a whole that it’s time to move forward.
Aside from its robust security, cloud-based HR software offers a number of other benefits, including:
- Addressing Ongoing Compliance Challenges
- Easy Implementation
- Eliminating Paper Clutter
- Multilocation Support
For many companies that have been relying on especially outdated methods to meet their HR needs, these benefits may greatly reduce their costs while massively improving their results immediately.
3. Using Machine Learning to Manage Big Data
HR software is an incredible tool, but it’s not capable of managing Big Data. It certainly can’t “learn” from it.
For that, companies need to begin utilizing machine learning applications designed for HR. This technology allows HR departments to do everything from better help employees to provide greater visibility to the workforce to discover what best drives employee engagement and much, much more.
Without machine learning, Big Data will remain largely incapable of improving HR departments.
Now’s the Time to Invest in Better HR Technology
One important conclusion to draw from the above isn’t just that technology is improving HR. It’s that technology is transforming it and what companies can do with their departments.
Another way to look at this is that technology is turning HR departments into quite the advantage. That’s why now is the time to invest in it. If you want too long, you’ll miss out on an enviable competitive edge and may even need to make great strides just to stay in the race.