APAC Welcoming Digital Workspace with HR Technology

As technology advances, HR technology welcomes a digital workspace where employees and employers can communicate in real-time.

FREMONT, CA: HR technology benefits have become a primary element for businesses to attain sufficient growth. Though technological innovation and increased labour productivity have progressed hand in hand till then, certain significant advances over recent times have enabled organisations to better management of their teams and obtain maximum productivity. Alongside, they also help in decreasing expenses and administrative errors.

Role of Technology in HRM

Implementing digital and other resources for business operations improvement has evolved with technology advancements. As Human Resources is the trending business function in technology, companies make maximum use of HR technologies for hiring new candidates and retention of potential ones, along with support in workplace management and administration. An increase in the pace and efficiency of both managers and teams enables technology to attain productive results.

Types of HR Technology

1. Human Capital Management (HCM) elucidates companies’ comprehensive approach to managing their most valuable possessions- people. The strategic and technological elements required for addressing HR-related activities are enabled by HCM. It provides a strategy to manage their workforce productivity.

2. Human Resource Information Systems (HRIS) and Human Resource Management Systems (HRMS) are often used for the technological systems in HR functions at the highest levels of HR management. Their roles generally include organisational and employee data management, payroll and benefits administration.

Despite describing technological solutions, they do not necessarily tie into broader strategic planning or management philosophies. Thus, HCM stands as a priority in leveraging the human capital assets of companies. This is because of the integral function of the HCM system over the single-functioning of HRIS platform, as HCM provides access to high-quality information with reduced workload and nil risk of propagating inaccurate data.

The HR system also signals its significance in streamlining management and hiring processes via

• Artificial Intelligence, is used in scrutinising labour markets and matching candidates' skills and competencies with posted job descriptions.

• Communicating changes owing to health plan coverage, holidays, and time-sensitive information through employee self-service technology.

• Adapting e-learning systems as a part of learning management systems helps in employees' focus and improvement.

Benefits of HR Technology

• When certain job positions remain vacant, existing employees are assigned more tasks. This, in turn, reduces overall employee productivity, causing customer dissatisfaction. With an employee onboarding system, candidates’ filtration is done easily alongside onboarding, training, and benefits administration.

• The essential functions of businesses include scheduling and managing staff time by minimising issues such as downtime and duplicate coverage. Thus, with easy navigation, and integrated time and attendance solutions, effective productivity management can be ensured.

• By automating monitoring processes, customised alerts for specific needs can be scheduled by a company, which helps in reducing errors associated with manual processes. Thus, a customised HR technology enables effective monitoring of team activities.

• By accessing critical data through HR technology, HR teams can customise financial forecasting, succession planning, and staff performance, which play a major role in business decision-making.

With the advancement of technology, the importance of HR technology has grown, paving way for a digital work environment that allows the management of critical data for the development of a company.