December 30, 2021 in Articles

HR Technology Trends: Staying Relevant and Building Efficiencies

The past two years have taught us many things, and the most obvious is how dependent we are on technology. As remote work exploded, businesses scrambled to adapt to their new normal. 

Human Resources departments of all sizes accelerated the implementation of new technology, which came with a steep learning curve for most HR leaders. HR technology and employees who can properly use it are now essential for a modern business to run effectively. 

HR trends tend to fluctuate in response to social and economic change like other industries. We’ve detailed the newest and most relevant HR technology trends that will benefit your team to make sure you’re up to speed.  

On-Demand Payment Solutions

The world has gone digital, and that includes payroll. Business owners are tired of payroll services that aren’t flexible, especially ones that are still subject to human error. 

Now, cloud-based platforms are offering personalized and fully integrated payroll processing systems. This software can be used anywhere, which complements the remote work lifestyle.

These platforms have a litany of features, including paperless paydays. The payroll direct deposit wipes out any chance of an employee’s check being stolen or lost. In addition to 24/7 access to pay stubs, HR teams and workers can easily access employee benefit plans. 

As if that wasn’t attractive enough, these technologies can also seamlessly file and deposit the company’s payroll taxes. On the employee side, workers can access their W-2 at any time. This HR technology trend’s simplicity and exceptional features make running a Human Resources department considerably easier. 

Centralized HR System 

Instead of spreading your department thin, adopting a centralized HR system promotes focus and unity. Separate teams create the opportunity for miscommunication and inconsistent solutions. 

If your team is consolidated, candidates and new hires will be able to establish a relationship with a recruiting professional from the beginning. 

Furthermore, having a centralized HR system lowers payroll and benefits processing costs. Processing benefits and payroll from the same place also makes supervising audits and compliance with laws easier.

When there is one dedicated team, everyone is working together towards the same objective. It’s much easier to update company-wide procedures or process improvements with your HR team in one place.

As an added benefit, when HR professionals are concentrated in one location, it allows them to combine their knowledge and learn from each other. 

Automating Hiring and Onboarding

This HR technology trend has been evolving rapidly, and a great number of recruiters swear by it. Automating hiring sounds jarring, but technology has made the process more thorough than ever.

Automating hiring and onboarding has extensive benefits, including:

  • Increased productivity
  • Consistent quality of hires 
  • Bias-free hiring
  • Stronger employee experience
  • Easier employee management
  • Reduced onboarding labor costs

The most recognizable tool for automating hiring is video interviews. You can pick the questions you want the candidate to answer and allow them to record the video in their own time. 

This way, you can review the videos at a time of your choosing. Video interviews are an amazing way to pre-screen, then compare and contrast potential hires. Some recruiters even use automated resume screening to make sure they’re getting qualified candidates.

Another option is using a candidate relationship management (CRM) system to handle the dull and repetitive tasks within the recruiting process. Working with a CRM system, you can use scheduling software to arrange several interviews at once.

If you use CRM with a campus recruiting tool, you could collect precise information to recruit from a specific college campus. The possibilities of what you can do with CRM automation are endless!

HR Trends Are Here to Stay

It may be tempting to dismiss emerging HR trends as a fad, but that would be unwise. Even before the pandemic, the percentage of people working from home was on the rise.

Transforming costly hours of work into an effortless process is how businesses grow. How efficient your onboarding process is will directly relate to your employee retention. Automating processes makes onboarding easier for both the employee and the employer. 

Are You Up to Date?

Asset HR has been keeping up with industry trends for over 20 years. Let us make your job easier. We offer solutions for every topic in this article and more! Contact us today for more information.