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5 HR Technology Trends to Watch out for in 2024

28 Nov

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There’s a lot going on in the world of human resources. It seems there’s always something new and innovative. HR technology trends change and improve year over year, with the intention of helping your HR staff—and your business—become more successful and efficient. By staying up to date on future HR technology trends, you are setting your business and team up for greater success, improved retention, and increased efficiency.

Five HR Technology Trends

As we approach the new year, there are some technology trends you should look out for and consider their impact on your business, specifically in HR. The future of HR technology has evolved to include artificial intelligence (AI), digital training and development, tools to promote teamwork in remote/hybrid settings, data privacy and cybersecurity, and compensation management solutions.

1. Artificial Intelligence in HR

AI has been in the headlines for some time and it’s not going away anytime soon. Companies are left with two options when it comes to this trend—ignore it or utilize it to their advantage. AI in HR—and many other areas—promotes hyper-automation, which is the idea that if a task can be automated, then it should be. Used most often in tasks that involve data usage—i.e., payroll—the more advancements made in this area, the more tasks it will be able to manage.

Chatbots are a recent trend that can help HR improve the employee experience by immediately providing relevant information to staff. It can also help HR draft more effective job descriptions and recruiting questions, and help with scanning candidates’ resumes, saving time and resources.

2. Digital Training and Development Drive Upskilling and Reskilling

Another trend in HR technology is the use of learning management software (LMS) for training and skill development.  LMS platforms are becoming more and more sophisticated—many now include the ability to personalize training, offer in-flow learning (learning as you complete day-to-day tasks), microlearning, and gamification (providing learning in a game-like environment).

Using an LMS can also help with upskilling and reskilling. Upskilling is teaching employees new skills to optimize their performance in their current field/position while reskilling is teaching new skills for an entirely different career path, for example moving an employee into a leadership position would require both upskilling and reskilling.

This type of HR technology will foster more engagement among your employees, add more value to your team by growing their skill sets, close skill gaps, and improve training efficiency. With an LMS, HR can track employee performance and see which training is successful and which may need to be replaced.

3. The Remote Work Evolution Thrives on Digital Tools

Many workplaces are experiencing a remote work evolution including a hybrid environment, with their staff in the office some days of the week and remote the others. This not only has an impact on collaboration, but it also impacts HR’s ability to manage employee relations, since they are now having to manage employees in different locations at different times.

While collaboration is essential to the success of your teams, it doesn’t have to completely diminish when those teams are not in the same physical space. Over the past few years, there has been an increase in digital collaboration tools for remote work. Your company can utilize messaging platforms—like Slack or Teams—to allow for open communication throughout the day, regardless of where your employees are working. You can also use these tools to create fun team-building activities to improve relationships and promote a more cohesive team.

As for employee management, it’s much harder to gauge an employee’s workload, what they’re working on, and how engaged they are with their work in a remote/hybrid space. To address this, HR can employ more regular employee engagement surveys, engage employee monitoring tools to track productivity and implement online wellness programs to help employees with burnout.

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4. Data Privacy and Cyber Security Requires New Policies and Training

With the increased use of technology and cloud-based systems, there’s also an increase in the need for HR to keep employee data safe and secure. HR and technology teams should work on data security policies and cyber security training. HR should also be heavily involved in the planning of responses to data breaches. Employees affected by cyberattacks will need to be notified by the organization and given support regarding next steps. Many technology platforms today have increased layers of security—for example, personally identifiable information (PII) is password protected or encrypted and/or includes the option to send encrypted emails, and multi-factor authentication when signing into any platform containing employee data.  This helps keep important information secure and the more employees are trained in cyber security, the more it can be prevented.

5. Compensation Management Tools Aid Compliance and More

Another trend in HR technology is compensation management. Many states have even implemented pay transparency requirements for employers. Using a compensation management platform can help your HR team track salaries, job leveling, benchmarking, and pay banding.  It will also ensure your company is compliant with any state pay transparency requirements and help your business remain competitive with compensation. This increases employee retention and helps attract quality talent as well.

Whether you’re looking to include a new LMS, AI assistance, collaboration and monitoring tools, or a compensation management platform, you’ll stay ahead of the curve by implementing any of these technologies.

If you’re ready to move forward with leveraging HR technology, VensureHR has the team to help you do it. Our knowledgeable HR professionals will work with your business to determine where your company will see the most benefit and ensure an effective implementation. Schedule a call with us to learn more.

ReferencesHR Exchange Network- 8 HR Trends for 2024

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