Future of Human Resources Technology
What does the future of human resources hold? It’s safe to say that technology is a huge aspect of the ever-changing human resources industry. HR technology is known to take mundane tasks off the end user’s hands – especially for distributed workforces experiencing high turnover.
According to research conducted by Accenture and the World Economic Forum, “87% of workers believe new technologies will improve their work experience and they are willing to invest their free time over the next few years to learn new skills to supplement their current ones.” For the HR industry, many of these new skills are adapting to HR software that will make their current job easier.
If your workforce experiences high turnover and you’re still completing paperwork manually, a major re-evaluation of HR technology needs to be on your to-do list. Let the most popular HR technology help guide you in the right direction.
Benefits of Technology in HR Recruiting
With new HR technology comes more efficient and automated processes, such as faster recruiting and applicant tracking software. Most HR technology companies offer software that will streamline your recruiting efforts to make it easy to find the right employee and get them up and running fast--no manual paperwork involved!
When it comes to applicant tracking, having to sift through applications can become cumbersome and time consuming – especially in high turnover industries. That’s where HR software comes into play – with an applicant tracking system, it allows employers to automate the recruiting process.
Employers can post on multiple job boards and find the right candidates – all in one place. With the ability to source and select job candidates through an applicant tracking system, your company can focus on driving the performance results that matter most to your business.
Benefits of Human Resources Onboarding Technology
Once you’ve hired your chosen applicant, your HR software can automate the onboarding process. With HR onboarding software, the ease of having one system means no double entry of data into the system – the data will flow seamlessly from the applicant tracking module into your HR onboarding software.
Enhance the onboarding experience by adding company videos to help develop culture or you can even add your logo to the portal. New hires can quickly fill out forms which means less reviewing for employers and less time spent on paperwork. Automated onboarding can even help you save money!
When it comes to new HR technology, the ease of using applicant tracking and onboarding will only get more efficient for end users.
Popularity in Pay Cards – The New Form of “Instant Pay”
According to recent research commissioned by FEI, “47% of millennials and 66% of Generation Z workers have used a preloaded payment card over the last year.” HR technology can keep up with workers’ shifting financial practices via tools such as electronic pay cards--a new trend in payroll processing.
Pay Cards are a method of instant pay onto a prepaid card, as opposed to getting a paper check or direct deposit. The best part is that pay cards are a cost-effective way to pay employees. Employers can save roughly $3 per printed paycheck, according to the American Payroll Association! Many employers use this method of payment to save on paycheck printing, mailing and distribution costs.
The new trend of workforces wanting “instant pay” can be a direct result of technological expectations. Many HR software companies integrate easily with pay cards. The most advanced HR software can actually register a new employee pay card right from the employer’s time clock. In addition, employees can check their pay card balance or print statements at any time by simply swiping their pay card at the clock.
HR Tech Outlook
With all the HR technologies and tools that are available, it’s advantageous to use integrated software platforms that include all the necessary HR modules—hiring, onboarding, time and attendance, payroll, benefits, performance management—all in one place. This will relieve the juggling of multiple software systems and duplicate data entry. HR technology will only help with automation and the creation of more efficient processes.
The future of HR seems to have one common thread: technology. As HR technology and software continue to expand, the end user’s time can be spent focusing on more important issues that directly enhance the company’s bottom line. Take a two minute tour or request a demo to see how we can solve your problems with the best HR and Payroll software for the distributed workforce.