Human resources have become a vital organizational function. HR represents the human component of any business, ensuring compliance, payroll, benefits, compensation, talent acquisition, performance, analytics, and workforce management, and "HR technology" is a blanket term for all of the platforms that enable modern-day HR teams to do their job.

‍

The truth is that people are the most complex part of any organization. But, technology is the great equalizer and increasingly, HR tech tools are helping to bridge the gaps between people, processes, and insights.

‍

HR technology solutions allow the automation of many daily functions required of HR teams and hiring managers. Simple platforms automate workflows like sending emails to schedule interviews and take assessments, and the more sophisticated systems help to identify the best candidates for positions, write job descriptions, inform promotions, manage employee records, and even predict potential outcomes of decisions.

‍

HR technology examples include applicant tracking systems (ATS), digital sourcing, interview intelligence, learning management systems (LMS), performance management software, onboarding & orientation platforms, payroll & time-tracking programs, surveys & analytics tools, employee engagement and volunteering programs, and even AI chatbots.

‍

With these tools, human resources teams can streamline processes, maximize efficiency, help employees get involved in the company and charities of their choice, and get a better handle on every part of the employee lifecycle. Ultimately, HR technology helps to make sure people stay engaged and productive while reducing costs and managing compliance — so everyone wins!

‍

As you can see, there are many options to choose from in this category. If you're considering implementing HR technology tools in your organization, it's important to evaluate the different solutions available and find out which one best meets your needs.

‍

HR Technology Companies

‍

As we mentioned in the previous section, if you're looking for HR software, there's no shortage of solutions. g2 breaks "HR software" into 34 different categories, and according to IBISWorld, there are more than 500 HR technology companies in the US alone.

‍

Here are some of the most popular HR technology companies on the market today:

• BambooHR – One of the top-rated integrated software solutions, Bamboo's cloud-based platform helps streamline administrative tasks like onboarding and performance reviews.

‍

• Workday – One of the most comprehensive HR systems on the market today, Workday helps manage HR operations and provides insights into performance.

‍

• Oracle – This cloud-based talent management platform helps with recruiting, onboarding, and performance management.

‍

• Gusto -  A cloud-based payroll and HR platform that helps automate payroll, benefits, HR tasks, and more.

‍

• Zoho People – This cloud-based software solution helps to manage employee information, streamline HR processes, and track attendance and performance reviews.

‍

• Rippling -  A cloud-based HR, payroll, and IT management platform that helps to streamline onboarding, offboarding, time tracking, payroll administration, and more.

‍

• Zenefits - An all-in-one cloud-based HR solution that automates many daily tasks like benefits administration and compliance.

‍

• ADP – This cloud-based system provides tools for recruitment, employee development, payroll, and more.

‍

These are just a few of the core HR platforms, but it's important to be familiar with them before investing in any solution. To make the best decision for your organization's HR software needs, consider outlining your workflow and evaluating each of the companies you're considering in terms of features, cost, user-friendliness, customer support, and scalability. In addition to that, you can also take a look at reviews from current users. g2 and Capterra offer comprehensive reviews from users, so these can be great resources to get an idea of what others think about the software you're considering.

‍

At the end of the day, HR technology is a powerful tool that can help your organization run more smoothly and cost-effectively. It's important to take time to research the different options available to you in the HR tech industry and make sure you're making the wisest decision for your company.

‍

HR Technology Trends

‍

The HR technology industry is in the midst of rapid transformation and growth, with companies offering innovative solutions to streamline HR processes and increase efficiencies. Advances in technology have enabled new capabilities that are reshaping the way businesses manage their people, from recruitment and onboarding to employee engagement and retention.

‍

HR technology examples are always changing and evolving with the times, so it's important to keep up with the latest trends. Here are some of the top HR technology trends that you should be aware of in 2022:

‍

• Predictive analytics – Predictive analytics tools use machine learning algorithms to predict future employee performance or behaviors based on past data. This can help HR professionals identify and address issues before they arise.

‍

• Virtual reality – VR technology is being used in the recruitment process to provide candidates with a more realistic job preview experience. VR is also being used to train salespeople and to provide virtual team-building experiences.

‍

• Workforce optimization – Software solutions are allowing HR teams to collect and analyze data from multiple sources, including employee surveys, timesheets, and performance reviews. This helps HR professionals identify areas for improvement and make better decisions about resource allocation.

‍

• Artificial intelligence – AI-powered tools are becoming increasingly common in the HR tech space, helping automate mundane tasks and allowing HR teams to focus on the more strategic aspects of their roles. Ai is also empowering hiring managers with interview insights from interview intelligence software.

‍

•Automation – is helping to stream many HR processes, such as candidate scheduling, payroll, and engagement surveys. AI-powered chatbots are being used to automate onboarding processes and provide personalized guidance to new hires. AI and machine learning can be used to automate decisions. This allows HR professionals to spend less time on mundane tasks and more time focusing on strategic initiatives.

‍

•Mobile apps – Many companies are developing mobile applications that allow employees to access HR-related information and documents from their phones or tablets, enabling employees to be more connected and mobile.

‍

To see new trends and stay up to date on HR technology news you can subscribe to, HRTechFeed's newsletter. They offer all the latest industry updates in a "daily dose." SHRM also has great resources in the technology section of its blog.

‍

HR technology can help your organization stay competitive in an ever-changing landscape. By staying informed and up to date on the latest trends, you can ensure that you have the right HR tools and software to facilitate growth.

‍

Technology In Human Resource Management

‍

The impact of technology on human resource management (HRM) has been profound, allowing organizations to manage their workforce more effectively and efficiently. Technology has enabled the automation of many HR processes, enabling HR professionals to shift their focus away from mundane tasks and onto more strategic initiatives.

‍

Technology is also powering smarter recruitment processes with machine-learning algorithms. Candidate sourcing, interview intelligence, and automated scheduling are just some of the capabilities available in recruitment software. Hiring managers can now automate introduction emails between candidates and panel interviewers, and record, transcribe index, and highlight portions of the interview to revisit. This is also helpful with interviewer coaching.

‍

HR teams are also leveraging artificial intelligence (AI) technology in human resource management to identify potential retention issues, track employee engagement levels, and measure job satisfaction. This helps HR professionals act quickly when necessary and provide the right interventions for employees. AI is also helping streamline employee onboarding processes with automated paperwork, training sessions, and feedback surveys.

‍

Finally, technology is helping HR departments leverage a more data-driven approach. Workforce optimization solutions allow HR teams to collect and analyze data from multiple sources, such as employee surveys, timesheets, and performance reviews. This helps organizations identify areas for improvement and make better decisions about resource allocation.

‍

In conclusion, HR professionals who stay up to date on the latest technology trends are better equipped to pivot with changes in the market, EEOC (Equal Employment Opportunity Commission) Compliance, and are able to quickly implement tools that facilitate growth and help you remain competitive. With a greater focus on data-driven decision-making, organizations can ensure that their people strategies are aligned with their business goals.  By leveraging AI, automation, and mobile apps, HR teams can save time and money while becoming more efficient. 

Ultimately, the right technology tools and software will help HR departments foster a better workplace culture, increase employee engagement and satisfaction, and drive business results. At Pillar, we built interview intelligence software to help you hire better. If you're currently on the hunt for a more efficient and effective recruitment process, schedule a demo to chat with someone on our team.