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In the last few years, the human resources department has undergone tremendous changes. HR leaders today are charged with adapting to today's changing workforce, becoming increasingly strategic and using technology to improve human capital management functions. Here's a look at four of the HR technology trends that are currently pervading the HR space.
Learning management systems are getting smarter. Generally speaking, the proper training of employees and the tracking of that training was neglected in the early 2000s. Add to that the obliteration of the traditional brick and mortar classroom in recent years, and something had to give. The HR tech space has reacted by producing new platforms for creating and collating learning content and learning management systems that do a better job of tracking progress. Other drivers of this trend are the new world of distributed teams and, even more importantly, a greater recognition of and attention to the ways in which humans learn. To meet this need, HR leaders are rushing to replace old approaches with more engaging, on-demand techniques for learning and content distribution, and a number of vendors are addressing this issue. For example, AppLearn, a U.K.-based company that facilitates software adoption, is helping with "contextual learning," layering its learning tool on top of software so that a company's employees don't have to take time out from their day job to get formal training.
Ongoing performance reviews are becoming more common. The bashing of the annual performance review has continued into 2016, and one of the strongest HR technology trends continues to gather force. Most companies do still turn to the traditional performance review once or twice a year as a rating on which to base compensation. However, employees need more than a stale yearly review. This need for more frequent feedback is being addressed by vendors such as Cfactor Works. Such vendors' products are enabling the collection of feedback notes, coaching notes, social media contributions and endorsements from peers throughout the year. At Hive Tech, we use Teambay, a cloud product that takes the pulse of team satisfaction by asking one question per week and providing a chance to thank a team member. The bottom line is that HR leaders really need to revisit their current performance management approach and technology.
HR is turning to data and analytics. Data and analytics have not traditionally been the domain of HR, but that's certainly changing now. Indeed, data and analytics are helping the human resource team in a myriad of ways, including employee retention, workforce planning and increased workforce ROI. Even the laggards are catching up. The collaboration of the CFO and the vice president of HR is mission-critical in order to determine what financial metrics matter to the company and how those translate to HR. Data and analytics are the tie that binds in that collaboration, as I recently wrote in an article with Michael Moon. Companies are recognizing that better HR results translate to better business results, and that better analytics can help improve those HR results.
HR is capitalizing on software that helps manage a global workforce. Companies have an increased pressure to turn a global presence into a competitive advantage, and HR technology is becoming recognized as one potential savior. At Hive Tech, we work with software vendors trying to enter new international markets as well as companies rolling out global HR software, such as Fairsail, which allows for the application of different "policies" in each country. Each company's situation is unique, but many companies are looking for common functionality, including software portability; ability to meet specific in-country requirements; and the ability to address currency issues, local labor costs and compliance regulations. At the heart of issue lies the business impact of global HR decisions.
What is shared by all four HR technology trends is a critical truth: The old HR directive of simply administering employee movement is an increasingly smaller portion of the job description. Instead, strategy is becoming paramount.
I'll be covering some of these HR technology trends at this June's SHRM National Conference in Washington D.C.
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