In fact, the HR tech industry has become one of the fastest-growing sectors, where billions of dollars are being invested in the implementation of the HR software systems for recruitment, engagement, and training processes. The recent research study by Markets and Markets shows that, in 2017, the HR software market was worth $6.47 billion. According to their predictions, this figure will jump to $$9.89 billion by 2022.
These changes are important for a simple reason. In 2019 and beyond, HR tools will no longer be observed as productivity boosters. On the contrary, their main goal will be to improve the overall workflow management and create highly integrated work environments that would benefit everyone.
Now, let’s check out the major HR tech trends for 2019:
1. The rise of Natural Language Processing
The idea behind natural language processing is simple - it lets software interpret written or spoken human language. And, with the rise of voice-powered technologies and transcription platforms in 2018, it’s not surprising that these technologies will dominate the HR tech industry in 2019.
Let’s take the example of AI chatbots. We usually link them with website development, social media, and customer support. However, as the technology is evolving fast, they can also be applied to human resources.
For example, recruitment chatbots can handle some basic communication with candidates. They can guide them through the different stages of the interview process, request their CVs and contact information, and ask them some basic questions about their skills, experience, and knowledge.
Most importantly, natural language processing technologies will make the entire hiring process far simpler for HR managers who can finally stop spending time on repetitive tasks and focus more on complex issues that cannot be automated.
2. The evolution of recruitment marketing
In the sea of similar companies, attracting top talent is not easy. In addition to the salary, benefits, and job description, your brand’s reputation also matters to 75% of job seekers.
Because of this, the HR sector will focus more on investing in digital marketing in 2019. Here are a few steps to take to increase your online reputation:
Polish up your website
Your website is your online identity. It tells your potential employees who you are and what your mission is. This is a great way to give your brand a unique personality that will be recognized and appreciated by both your customers and employees. So, make sure your “About Us” and “Corporate Culture” sections are highly convincing. You could also create the “Our People” page where your employees’ testimonials can build trust with candidates and encourage them to apply for a job. Many big brands like McDonald’s take this approach to attracting top talent.
Leverage social recruiting
Social networks play an important role in your recruitment processes. The integration of HR sectors with social media marketing gives you an opportunity to find the right candidates for your company, learn more about them, and easily reach out to them.
Most importantly, social networks are immensely important for building your brand. They give you the opportunity to humanize your brand by sharing insider stories. For example, you could publish behind-the-scenes photos and videos of your offices and different events. This is a great opportunity for candidates to meet the people behind your brand and learn more about their experiences before applying for a certain job role.
Use visual storytelling
Visual storytelling is one of the most powerful marketing tactics that brings value to online users and keeps them engaged. And, in 2019, it will become one of the most powerful recruitment techniques, too. Namely, by creating an engaging and emotion-evoking narrative around your job ad, you will hook your top candidates’ attention, engage them, and entice them to reach out to you. Glassdoor says that video-based job postings are viewed 12% more and have a 34% greater application rate than those without a video.
3. The integration of technology and employee recognition
Did you know that the number one reason why people leave an organization is the lack of appreciation? According to Recruiterbox, 90% of employees say that a recognition program positively impacts their productivity, while 68% of them emphasize that it also increases their retention. Human Resource managers claim the same, stating that a solid recognition program helps them build a trusted employment brand.
Obviously, recognition is key to employee retention. And there are numerous rewards option you can use. In addition to traditional monetary rewards like raises or bonuses, you could personalize employee incentives. For example, why not send them a gift card or a voucher they can use at their favorite coffee shop, restaurant, or bookstore. Your employees may also love to get a prepaid Visa card, Mastercard, or Eftpos because they don’t limit them to only one store. Alternatively, taking your staff members to lunch, offering flexible working arrangements, throwing an office party, or even praising them publicly may increase their satisfaction.
This is yet another aspect of HR that technology can improve. By investing in the right employee recognition software, like Recognize 365 or Appreiz, you will be able to:
- Monitor employee performance in real-time
- Make the recognition program transparent
- Engage all employees instead of individual teams
- Increase the security of your rewards programs
- Let employees access the rewards program, irrespective of their location
- Integrate the rewards program with other HR functions
- Tailor the recognition program to your organization’s needs
4. The introduction of augmented employee analytics
Today, most HR managers collect employee data and analyze it, but they usually fail to use this data to scale their teams. And, with the latest shift from predictive analytics to augmented employee analytics, this will change.
Using natural language processing and machine learning, augmented analytics tools will give HR teams greater insights into the employee performance data, by analyzing this data and turning these insights into a series of actionable steps.
Most importantly, this form of analytics can be used not only to identify certain issues, but to prevent them, too. Businesses will finally be able to predict and mitigate their major risks, based on their leadership techniques, a new hire, and so forth.
Apart from boosting the performance of HR managers, these tools are also beneficial for all employees. Namely, by getting comprehensive performance reports on a weekly or monthly basis, your employees will know where they stand and in which aspects of their job they need to improve.
5. A more efficient management of employees
The integration of the IT sector and HR has revolutionized employee management. There are now numerous corporate performance management (CPM) tools that allow all businesses to stay on top of their employee activities.
Most importantly, companies can cast their net wider and target employees irrespective of their location. This can dramatically reduce your infrastructure costs and, at the same time, allow you to find otherwise inaccessible candidates.
With the help of VR conferencing software like Big Screen or Improov, HR managers can now schedule more productive face-to-face meetings with their remote employees, provide real-time feedback, and build stronger relationships with them. Most importantly, such tools will help remote workers develop the feeling of belonging to the team, therefore increasing their satisfaction within their role.