If you’ve been in the industry for long enough, you’ve no doubt noticed a lot of evolution in the world of human capital management technology. We now have more sophisticated solutions than ever before for completing all sorts of HCM tasks.
There’s new technology for performing core functions like handling payroll and benefits, of course. There are also tools for recruitment, talent management, employee self-service, gauging engagement and productivity and even enhancing corporate health and wellness, and if you’re lucky enough, you may have a tool that does it all.
We’ve come a long way, definitely. But according to Josh Bersin, founder and principal at Bersin by Deloitte, we’ve still got a long way to go.
A recent SHRM report pointed to the results of “HCM Market Trends,” a market study performed by Deloitte in 2015. Bersin found that companies are spending more than $40 billion per year on HCM technology, and that figure is only increasing every year.
Bersin noted:
As most of us know, it’s nearly impossible to be an HR leader without getting deeply involved in technology. Not only does HR technology automate, store and improve almost everything we do, our companies are now flooded with technology – so we have to buy, integrate and simplify technology just to get our jobs done.”
The world of HR tech is fast-paced and pressure-packed, but it’s also exciting. It enables companies to reach entirely new heights in employee engagement, productivity, wellness and more. And internally, for those of us who work in HR every day, it’s making our lives easier as well.
Bersin looks at five (5) trends happening in HR technology that are creating a brighter future for HR pros:
