Technology has transformed the workplace in so many ways. Not only does it change process within the organization, but it also equips employees with labor and time saving tools to manage their work and improve productivity. Technology, when applied properly helps in customer service, drives up profits and reduces redundancy. It has the power to transform the HR space; and has done so to a significant extent already! Consider how cloud computing has enabled employees to work collectively from remote locations, streamlined workflows and facilitated product development. Other emerging tech trends will similarly transform the HR space in time to come:
- Virtual Reality
It is possible to create authentic and lifelike on the job experiences using virtual reality for HR requirements. An employees get a realistic idea of a workspace, its members and activities via immersive experiences that recruiters or HR departments may provide. VR can facilitate recruiting, along with on boarding and training giving (would-be) workers a heads up on what to expect from an organization, remotely but effectively. A 360-degree VR experience can introduce the entire setup from colleagues, to the office layout to facilities and could attract valuable new talent.
- Artificial Intelligence And Machine Learning
As the world finds more and more practical applications for AI, its ability to make a real difference in the HR space – in performance evaluation, training and process streamlining – is also making itself known. AI can help to take the bias out of, say an interview setting and evaluate candidates more objectively for their abilities and skills rather than be influenced by race, gender or other aspects of an applicant. . AI also aids in handling a huge amount of data in a cost effective and time saving manner; freeing up HR resources for other work.
Though Machine Learning tech could be said to overlap with some aspects of AI, it is another trend, which will be an alteration for HR in times to come. Natural language processing, learning from text, video and images, interpreting facial expressions and even body language opens up new possibilities. Technology makes connection with people possible intelligently, enables interactions between companies and their customers and also, could actually enhance human cognitive capabilities.
- Employee Engagement Vis-à-Vis Employee Experience
Employee engagement used to be about employee manager interactions, discussions of to-do lists and then back to the grind. Emerging tech would change his; the aim is to enhance employee involvements to create a more rewarding and engaging work experience. Over time, companies have realized the importance of targeting not only customer experience but also employee experience, as it helps to boost morale and productivity of the employees. Based on a benchmark study that demonstrated a positive correlation between employee engagement on the one hand, and better customer experience and financial performance on the other, many HR professionals predict a perceptible shift from mere employee engagement to actual employee experience.
Blockchain tech seems to be seeping into every sphere of our everyday existence! Most of us have a vague idea that blockchain has something to do with cryptocurrencies, but it is in fact any type of decentralized, digital ledger of practically any kind of data. It tokenizes data and maintains authentic records that are resistant to any kind of manipulation or falsification. It enhances efficiency by eliminating the need for third parties such as banks and financial institutions to be involved in financial transactions between parties. When we see how transporter Maersk uses blockchain to track cargo, Walmart uses it to manage its supply chains and MIT uses it to set up a secure data bank of student records and credentials, and now, we can experience its ability to transform HR as well. This tech can help facilitate payments, manage health coverage and other benefits. Administering employee contracts, performing background checks and even examining sales rep call logs can become much simpler and less resource intensive processes with the help of this technology. Blockchain can potentially help streamline the employee grievances redressal systems as well.
In one sense, the HR space is a microcosm of the business world itself. The technology that affects manufacturing, industry and service space is therefore potentially transformative for human resource management as well. In times to come, we are likely to see more and more practical applications of emerging tech and its integration into HR.