There’s a saying that goes that if the only tool you have is a hammer, you’ll see every problem as a nail.
Similarly, it is said that people who view the world through keyholes will always assume that everything is keyhole shaped.
Deep stuff, right? Plus, what on earth does this have to do with HR tech, you may ask?
Well, at bountiXP we believe that any HR practitioner is only as good as the tools they have at their disposal. Sure, you may be a wonderfully empathetic human with an amazing knack for sussing out the right person for any given job opportunity, but if you don’t have the systems and platforms in place to manage top talent effectively, things are going to fall between the cracks.
This is where emerging HR tech comes in. It takes you beyond the hammer and the keyhole to a full metaphorical workshop with an amazing view of all the awesome things to come.
Why should you invest in new HR tech?
Well, to start with, the consequences of sticking with the same-old, same-old aren’t all that peachy. Doing nothing can lead to:
- Reliance on process change to drive improvement. Changing processes in itself often requires systems and reporting, which is also very hard to achieve without the right kind of platform in play.
- Poor employee adoption/abandonment. Clunky legacy technology that has been around for many years (or decades) is no longer current and up to contemporary UX standards. Users are likely to be very frustrated with it and avoid using it as far as possible. The odds of it breaking at a very important time are also rather high.
- Any remaining manual processes pose a challenge for compliance and reporting. The harder it is to use, the more time and energy you will need to spend to get people to use it.
- A negative impact on future budgets (pennywise and pound-foolish). Also, if you don’t invest in updated HR tech regularly, it might become more difficult to justify any investment budget from the CFO, etc.
- Aging technology consuming resources to operate and administer. In certain instances, businesses may be keeping on dedicated IT personnel who know how to operate an aging system, rather than deploying them in more vital areas.
Read more: Your quick guide to understanding the evolving HR tech ecosystem
The emerging HR tech trends that are making waves in 2021:
Consolidation with room for add-ons
By 2020, 30% of global midmarket and large enterprises had already invested in a cloud-deployed human capital management suite for administrative HR and talent management, but still needed to source 20% to 30% of their HR requirements via point solutions.
This consolidation trend is still going strong. Essentially, you can deploy an HR strategy in three different ways:
- One system that takes care of every single HR function throughout your business. The disadvantage here is that no single vendor is the best in every HR function, so you may need to make compromises when it comes to systems suitable for your business.
- Separate systems for each HR function. In this case, it can be difficult to operate many different platforms that aren’t necessarily complementary to none another and may have functionalities that overlap. You also need to engage with a variety of different vendors at all times.
- Finding the sweet spot an HCM suite that takes care of administrative functions, for instance, and then adding point solutions for more specialised HR initiatives.
Chatbots to close the gap between HR and remote team members
As newly remote employees sort out changing policies and work structures, they require access to the right information, at the right time. Chatbots can give employees 24/7 access to important HR info on mobile and desktop devices, and in their native language in the case of multinational companies. It even offers the ability for users to ask questions by means of voice or text channels.
These are a few important emerging HR tech trends that could very well change the way your business approaches human capital management. Daunting we know, but also super exciting, right?
Dual-purpose recognition to align employee actions with company goals
The surge in remote work in South Africa, as well as most other countries around the globe, has shown us that the workplace of today is more digital than ever. The drive to engage employees in the digital workplace, whether working from home or onsite, is a productivity issue that contributes to a company’s bottom line. Because organisations don’t get results. People do.
The key to getting a greater return from people is to engage and motivate them more effectively. And while there are many employee recognition and engagement solutions to choose from – not all are created equal. bountiXP is unique in the way that it focuses people’s productivity by linking employees’ actions with organisational goals and values. We call this dual-purpose recognition.
Each message of recognition created on the platform requires the employee to link it with a relevant strategic business goal or organisational value. These messages of recognition and appreciation for a job well done appear on the platform’s newsfeed, drawing people’s attention to the actions and behaviours that support the organisation’s strategy. Essentially, strategy in action. Sign up for the FREE trial here to check it out.
Read more: HR tech paves the way for a new age of workplace culture
Keep an eye on the blog for more inspiring insider insights in weeks and months to come.
In the meantime, we invite you to subscribe to our YouTube channel for great video content on everything from addressing common barriers to employee engagement, to how emerging HR tech can help you to recognise and reward your team for optimal productivity and talent retention. It’s goooood.