Quick look: Technology continues to evolve, and it’s increasingly helping improve and simplify countless tasks within the HR industry. From all-encompassing platform access on both desktop and mobile devices to the ability to produce actionable DEI data, brokers and SMBs should focus on these top five HR technology trends.
Technology is flourishing in nearly every industry, and human resources (HR) is no different. Small- and medium-sized businesses (SMBs) are busy juggling hiring new employees, managing a dispersed workforce, and retaining precious talent, and the right tech can help. Here are five HR technology trends making waves – and simplifying workloads – that SMBs and brokers alike should be paying attention to.
1. Robust self-service
With busy employees spread throughout different time zones, a comprehensive self-service platform, supported by a dedicated service team, can be a lifesaver. Ideally, an HR self-service platform should be intuitive, easy to use on any device, and designed for HR, manager, and general employee usage.
On the employee side, the right platform should enable workers to:
- View paystubs
- Enroll in benefits and review current elections
- Manage paid time off (PTO)
- Adjust tax and personal contact information
- Receive support via live chat
When it comes to HR-related tasks, the platform should allow administrators to:
- Add new departments
- Manage policies
- Consolidate approvals and messages
- Manage PTO and pay rates
- Run a variety of standard – and custom – reports
- Process payroll (manage recurring payments and deductions, schedule payments, create expense reimbursements, etc.)
By 2025, it’s predicted that 22% of the American workforce will be remote – and that doesn’t include employees with a hybrid schedule. Any way you cut it, hybrid and remote jobs are booming, and HR technology needs to keep up.
SMB leaders need and deserve a seamless and efficient work experience whether they’re at home, in the office, or both. To meet this need, businesses should choose a mobile-first HR platform that can be used both on desktop and mobile devices.
2. Simplified recruiting and onboarding
The tight and tumultuous labor market is slated to continue through 2030, thanks to lingering consequences of the pandemic, declining population growth, immigration limitations, and an aging generation of baby boomers. In other words, the chaos many recruiting teams are facing isn’t going away anytime soon.
Luckily, one of the latest HR technology trends is recruiting software that enables teams to work smarter, not harder, by allowing them to do the following, all in one place:
- Post job openings
- Track applicants
- Add new hires
- Track onboarding
For SMBs looking to fully offload recruiting responsibilities, partnering with a professional employer organization (PEO) that offers recruiting consulting and compensation and hiring services as part of its standard offering (like ExtensisHR) could be the answer. This kind of partnership can save SMB leaders valuable time and help them avoid contracting out expensive recruiting agencies.
3. Dynamic talent intelligence
Finding talented employees is just the beginning. SMBs must also develop them – and a holistic performance management software can do just that.
According to the Society for Human Resource Management (SHRM), 30% of employees consider career development opportunities to be very important, yet only 30% are happy with the situation with their current employer.
The right tech can help SMBs improve their development opportunities by:
- Aligning individual, departmental, and organizational goals to create engaged employees and positive outcomes
- Encouraging peer reviews and social feedback
- Enabling employers to identify the skills – and skill gaps – within their workplaces, as well as opportunities for reskilling and upskilling employees
- Improving retention and minimizing turnover by putting the right people in the right roles
4. Tailored training
From food delivery to media streaming, in their personal lives employees are accustomed to receiving what they want, when they want it – and corporate training can be just as convenient.
Today’s top training software features self-paced, on-demand modules covering a variety of topics like:
- Compliance and legal
- Environment and climate
- Workplace safety
- Human resources
- Customer service
- Professional development
In addition to a wide range of existing curriculums to choose from, another critical feature of the best training software is the ability to offer custom courses with integrated learning schedules. And because people learn best in different ways, it’s crucial that courses not just include textual slides but also scenarios, animations, graphics, and videos.
5. Actionable DEI data
Proper change can’t be made on a hunch. To successfully administer a diversity, equity, and inclusion (DEI) program, you need data.
HR technology can be leveraged to level the playing field for women, people of color, and more. A comprehensive DEI dashboard tool can be used to provide SMBs with actionable data on pay equity, salary trends, employee turnover, promotions, and previous hires.
Once armed with this information, employers can set goals that create accountability and work toward achieving a diverse, equitable, and inclusive workplace.
All the latest HR technology trends – from one place
Businesses don’t need to piecemeal together a solution to take advantage of all the benefits modern HR technology can offer. ExtensisHR, an industry-leading PEO, offers a mobile-first Work Anywhere® platform, which includes several components:
- HRCloud Anywhere®: Consolidates workflows, unifies reporting, and builds HR sustainability.
- Performance Cloud: Synchronizes goals and performance, enables peer reviews and social feedback, and improves retention.
- HR Knowledge Cloud: Upskills the workforce and provides access to immersive learning and integrated learning schedules.
- Recruiting Cloud: Automates job posting processes, attracts the right candidates, and improves communication with applicants.
- Time & Labor Cloud: Improves cost management and reduces compliance risk.