Technology has made every aspect of our lives easier. Businesses are investing more and more daily in technology to automate and simplify tasks. But when it comes to HR technologies, how are they able to benefit our businesses?
In the last few decades, software companies have developed systems that migrate your business information to databases and simplify many processes including employee payroll and compensation, talent acquisition, management, and benefits.
But before we jump into the benefits HR technologies have to offer, let’s dive a little bit deeper into what they do.
What are HR technologies?
Human resource tech is a term that refers to the software and hardware technology used to automate HR processes and functions.
HR technologies are often used to transfer data to a system that compiles the information and offers tools to accomplish the time-consuming tasks of administration, recruitment, compensation, and data storage.
According to a study by Forbes, 58% of companies use HR technologies to find, attract and retain top talent. Although the development of these systems predated the pandemic, the advances were significantly sped up due to COVID-19.
HR technologies have significantly optimized several HR processes by speeding up and reducing common mistakes. Let’s explore some more.
Which areas can be improved by HR tech?
Having a system that can manage from vacations and PTO to performance and benefits can truly increase your employee’s engagement. Why?
Because you will reduce the time and effort it takes to submit a request and give them the transparency they need in the palm of their hands. During hectic weeks, having tools that simplify most processes is something your employees will thank you for.
Make communication more effective
Effective communication with your team members is really important. Therefore every business needs the correct tools to create channels of communication. HR systems provide you with easy-to-access chats and inboxes to never lose contact with your employees.
Whether your team is remote or in your office, HR technologies allow you to be connected.
While there are some solutions focused exclusively on handling payroll, many systems also have the option to incorporate this function. Most systems track wages, salaries, and tax withholding across states and counties.
By tracking attendance, these systems create records of wages and salaries paid. These HR technologies, help reduce errors providing security and stability to your employees.
Monitoring performance is essential for managers to know what their employees need. Annual reviews are outdated as employees have a need for feedback and evaluation.
HR systems incorporate management modules that are sometimes interactive to provide continuous feedback to employees. For HR managers, these tools simplify a very time-consuming process.
Employees like having options when it comes to benefits. Throughout the years, HR technologies have made it easier for employees by making information accessible.
Corporate wellness has become central for most companies. So providing your employees with benefit programs online, on-premises or app-based is the most simple way to reward employees.
Depending on the benefits you offer most systems have customizable options that match your budget and provide employee satisfaction.
Tracking attendance has never been easier. Most HR systems allow your employees to download an app where they can manage HR aspects such as attendance.
Employees can simply tap their screens and log in and out of work no matter where they are.
This tool is super convenient not only for employees but also for HR managers as this feature is linked with payroll.
Last but not least, talent acquisition. Recruiters know what it takes to find the perfect candidate. System developers have gathered with recruiting experts to create the perfect tools to make recruitment easier.
A popular talent acquisition feature is the applicant tracking system where recruiters can post job openings and manage their candidates, contacting candidates through email. This system makes the screening process and response tracking a lot easier.
With the use of this technology, your engagement with potential candidates will increase and will allow you to keep better track of your talent pool.
Looking to learn more about tools for talent management?
If keeping up with talent management trends is a little overwhelming for you, we have the solution for your business.
If you are interested in learning more about tools and strategies to manage your team, visit our website and book a meeting with one of our experts!