Top 9 Trends that will Reshape the HR Software Market

The latest technologies, such as, mobile, cloud, analytics, and artificial intelligence, has pervaded the field of people management too, as is seen from the expected shifts for the future. New integrated human resource management platforms are seen as the major investment bucket when it comes to HR tech. HR needs to stay competitive within the company, acting not as a cost-center, but seen complementing business processes for profits.

Based on these tech interventions, new trends across the HR landscape are emerging:

Renewed Performance Management: Performance management is shifting from a yearly cycle to an “always on” feedback mechanism—this can be made possible with customized solutions in the PaaS framework. The shift is mainly because the business model is changing to a more seamless, collaborative and team-based model. Hence, performance parameters must change in sync, too. Agile methods to reward high performance are evolving, with specialized vendors creating new performance management systems and processes, backed by real-time data and 360 degree feedback of teams. The process must also engage the employee and assessor—game-based performance assessment is one such example.

Measuring engagement real-time: Pulse surveys for measuring employee engagement are seeing a shift. No longer is a single data point the prime decider of engagement levels. A lot of data which is currently unaccounted for, is floating out there, waiting to be tapped to help organizations understand their people better. For example, comments on the internal social media site, can serve as an indicator of happiness levels. In accordance, a new range of pulse survey tools, mood indicators, culture assessments and savvy media feedback tools, are emerging. The idea is to make the environment more receptive for employees to share what they truly feel. An intuitively designed system-interface can make this happen.

People Analytics: Applying analytics and data to people processes helps derive insights into employee behavior. Companies are seen investing in such platforms which are driven by machine learning and big data analytics. Integration in the HR Tech landscape is also happening through acquisitions and the emergence of niche start-ups. Consolidation of data is the foundation for effective people analytics, and these platforms will help companies achieve it.

Mobile: “On-the-go” is the buzzword for the customer who is glued round the clock to his or her smartphone. For HR, the customer is none but the employee. People processes and self-help employee portals are increasingly being accessed through mobile, especially with a global and mobile workforce fast becoming the norm. Building software that is compatible with mobile architectures with mobile-friendly design, and many a times in the Cloud, is thus, vital. These mobile applications also need to “talk to” other applications, such as video, camera, location services and so on.

Platform-as-a-Service (PaaS): Increasingly, companies are turning to the cloud for business. HR applications are no exception. Platform-as-a-Service (PaaS) applications are making it possible for companies to quickly and effectively adopt the Cloud-based applications, at an affordable cost. This includes applications that challenge fundamental work models. Collaboration, communication, engagement and innovation are the new-age expectations that companies have from PaaS vendors.

Evolved Learning Mechanisms: The way people learn has changed over time, with learning becoming more hands-on and continuous. Accordingly, learning content must capture low attention spans, maximise retention and be accessible across channels and devices. Virtual learning, collaborative learning and on-the-job learning are the latest contenders. According to the report, companies have shifted from 77% instructor-led training to only 32%. Massive Open Online Sources (MOOC) is expected to provide “learning and engagement” in a capsule, and learning management systems must evolve to incorporate this design thinking.

Recruitment: With the war for talent becoming real, finding the right people is becoming a new task in the digital age. New platforms, such as, LinkedIn are taking over. For example, LinkedIn’s recruitment business had grown to $1.9 billion between 2012 to 2015. Applicant tracking systems are being redefined with a preference for end-to-end recruitment management systems.

Workforce and employment models: New ways of working are here. Right from having a contingent workforce to remote and part-time working. This demands new ways of time tracking and attendance management.

Team Management Tools: With the increasing focus on collaboration and team-work, talent management and in-house communication software must keep pace. Chat applications, such as, Slack and employee-social sharing sites like Yammer are key developments that are challenging traditional hierarchy-based work interactions.

Source: hrtechnologist.com

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