4 key trends to watch amid the rapid growth of HR technology in 2015
For years now, we’ve been hearing the buzz about how technology can have a dramatic effect on our strategies for human capital management, but the truth is we don’t even know the half of it yet. There’s a staggering amount of evolution that lies ahead for HR technology. We’re just getting started.
Having said that, 2015 was still an exciting year of developments for HR tech. We saw plenty of new innovations (such as wearable technology) and increased adoption of older ones (such as cloud computing and mobile apps). There was a lot of excitement in the air as organizations discovered new levels of efficiency and convenience.
According to Forbes, one of the most notable changes in HCM in 2015 was the fact that technology buyers were really working to get in touch with how employees operate and what they need to make operations smoother in their daily lives. Steve Parker, head of business transformation at Achievers, told the news source that people and technology came closer together this year.
“This meant moving away from the outdated but consolidated offerings that employees, managers, and executives used only when they had to, such as HR ‘self-service,’ to providing tools that people used because they want to,” Parker said. “Technology designed to engage and help people be more productive.”
HR innovators are working to make “self-service” as personalized as possible, to the point where it makes a real, tangible difference in employees’ lives daily. How are they doing that, you ask? The answer is it’s all about technology.
Without further ado, here are four key trends to keep an eye on as HR technology continues to evolve in 2015 and into 2016.
New HR systems are flooding in
This is the year that companies finally begin adopting new HCM solutions in droves. They’ve already been piecemealing together systems for payroll, benefits, wellness and so on for a while now, but companies today are going after systems that are unified, mobile, cloud-based and highly compatible with new-school analytics platforms.
A tipping point for SaaS
Another growing trend is the increasing popularity of Software as a Service (SaaS) as the business world’s preferred HCM software model. Adopting SaaS allows modern companies to phase in HR technology that’s scalable, customizable and built to fit their specific needs.
Payroll and WFM are hot topics
Specifically, there are two areas where companies would like to add flexibility and efficiency – payroll and workforce management. With new legislation such as Overtile Rules and the ACA, the goal in HR is to handle employee logistics seamlessly, ranging from managing people’s shifts and hours to doling out their compensation. New SaaS tools for payroll and HCM can make those things happen.
Wearables are on the rise
As we look into 2016, organizations will continue looking for new innovations that will help them move forward. It’s quite possible that wearable HR tech, such as smart watches that record hours and productivity, will be the next big thing. There’s already a growing level of interest, and that sentiment may boil over at some point in the next 12 months.
For a lot at more trends changing the future of HR, read this CeridianVoice newsletter article: The Future of HR: Take Charge of These 5 Trends.