Technology, in today’s world, is interwoven with our lives. Be it work or relaxation, money or peace, we find technology as an integral part of it. Our life on a day-to-day basis is a result of technological influence.
Talent is the core of any given business. HR is responsible for talent acquisition, employee payroll, compensation, analytics, etc. In this new landscape where remote working is becoming the new norm, HR is being burdened with innumerable tasks. 2021 was all about reinventing HR in a new role. 2022 will welcome thew pushing away of boundaries and the chance to add more value.
So how can HR departments around the world keep the pace with a changing world? Here are some of the growing trends in 2022 that every HR professional needs to be aware of.
What is HR technology?
HR technology is a broad term referring to software and hardware associated with human resources. This technology automates human resources functions from employee payroll and compensation to talent acquisition as well as management. It also covers workforce analytics, better administration and performance management.
HR tech has witnessed rapid development in recent years, and employers around the world are adopting HR technology systems widely. Some adopt these technologies from enterprise software companies or specialized HR vendors, with traditional on-premise systems often being shifted to cloud platforms.
10 HR trends to watch out for in 2022
1. HR as-a-product
One of the notable HR trends is the shift in the focus of HR: from projects to products. In other words, there’s been a fundamental change in the operations of HR. With a project mindset, HR is focused on timelines, set deliverables and a set of resources that aimed at efficiency. On the other hand, HR as a product is a continuous process that aims at providing value and better impact.
The shift from project to product-mindedness has increased the quality of HR service, and the lifecycle of HR has shifted to ongoing evaluation. This, in turn, builds a business as it demands a better understanding of the customers, their habits and preferences. With this, HR can deliver a personalized yet unique employee experience.
2. Collaboration by design
The pandemic has forced us to work remotely in large numbers, even as many business adopt hybrid models. With this, many have noticed a rise in productivity.
However, remote work has its challenges such as poor employee networks and lesser ad-hoc conversations. These have a negative impact on collaborations and limits innovation. HR has to create conditions and reshape the collaborations.
What can HR teams do?
- Design workplaces that allow employees to work together (both physically and digitally)
- Leveraging digital platforms that help employees to connect anywhere, anytime.
- Drive cross-functional teams that drive collaboration
- Rotation based talent programs
HR managers should ensure collaborations boost the comfort level of employees working from home.
3. Talent marketplace and allocation
The pandemic has had a negative effect on the ability to buy talent externally. One popular solution in this regard is talent allocation through marketplaces. Talent marketplaces help the employees to connect with internal career opportunities. They include job openings, cross-departmental projects, small assignments etc. This helps the employee to develop intra-personal skills and push themselves beyond their capabilities. Exchange programs also help to build capabilities along with the cross-pollination of ideas.
4. Career experiences
Nowadays, workers don’t wish to dedicate their careers to a sole employer.
It’s necessary to study the demography of the employees, especially Generation Z. Studies show that youth (18-25 years) change jobs 5.7 times in their career. They prioritize work-life balance and are prone to job-hopping. As a result, organizations have started investing in building career experiences. This includes creating new opportunities to learn and expand capabilities and enriching career experiences. Some examples of this include:
- A lateral career experience changes the department or job role within the same organization promoting cross-functional collaboration.
- A vertical career experience promotes the employee to a senior role with added responsibilities.
- Rotational experience provides different roles for some time to fine-tune the knowledge.
- A new trend- Boomerang- where an employee leaves the organization for a specific time to return with a better experience and hold on to knowledge, has become popular recently.
5. HR-owned business transformation
HR departments are well versed in organizational design, development and transformation. In addition, they also have expertise in building company culture and encouraging collaboration. In the era of digital transformation, HR can analyze the transformation process to measure its impact and assets its progress
With close interaction and cooperation between HR and other departments, HR teams can create internal talent marketplaces, ensure better collaboration and drive data-driven decisions, taking a central role in the digital transformation process.
6. Preparedness for the future
The future of work is not only flexible but also ambiguous. Employees demand flexibility in work and companies are learning to become flexible and agile. To enable this, HR has to find the right balance between the two.
HR has to become adaptive and agile to leverage data-driven decisions. Scenario planning is the need of the hour according to which adaptive strategies need to be framed. The existing practices fail to cope up with existing circumstances. Hence companies have to reinvent themselves with preparedness to different scenarios and agility.
7. HR tech competency
HR professionals have to be tech-savvy to keep pace with rapidly evolving HR technology trends. At present, around 41% of HR professionals possess HR tech competencies. Others need to make sure they upskill themselves and make use of technology to stay ahead of the competition in 2022.
8. A shift from people to data
HR professionals must have the basic data literacy that in turn helps effectively implement the findings of people analytics.
The business and financial data add value to HR analytics. Thus, the better the data collection and data literacy, the stronger analysis and decision making.
9. AI-assisted recruitment
AI is a part of everything in the digital world, be it personalized feeds or chatbots. The same can be used by HR professionals for new hiring. HR tech solutions such as video interview software for recruitment analyzes trends and patterns, as well as the connections of potential candidates.
Some recruitment systems also search and recommend suitable candidates. AI also helps to automate tasks such as routine questions to candidates. It can also process the answers and store them for further reference.
For the HR industry, automation is more relevant than ever. Automation can reduce about 5 hours of work a week, be it data entry or file management or correspondence.
With automation, you can free up your HR department and help them focus on valuable work. Considering the impact they can have on morale, you can shun away tasks that feel like a waste of energy, time and money.
HR tech is evolving day-by-day like any other cutting-edge technology. Keep pace with the HR trend ahead in 2022 with the best HR Tech solutions to find, hire and retain your employees.