Human resource management is much more than simply recruiting the best workers for your company’s needs. Effective HR management means that you have to plan for the future while managing the resources of the present. It means having to build connections rather than making business transactions.
The field of human resources is being shaken up by technological innovations as much as any other field. In order to manage human resources effectively, a company has to constantly innovate and implement new ideas and ways of doing things. Technology is the perfect tool to achieve that. Here are some current innovations in the field of HR that your company can benefit from implementing.
Blockchain technology
This is the use of end-to-end encryption, which creates a secure and non-centralized online ledger of real-time transactions. The development of this technology is a game-changer in many fields. It is bringing innovation to the field of HR in a variety of ways. For instance, it is paving the way for more secure data protection. It is also making payroll processes much safer, especially when conducted internationally. It can also reduce the workload of HR departments by automating contracting systems and making it easier to report on compliance.
An example would be the generation of smart contracts that make reporting to the relevant regulatory bodies automated and safe from manipulation. Blockchain protects data from all sorts of manipulation that happens now. It is thought that in the future, HR departments can detect applicants who have lied in their resumes as applicant metadata will be securely stored using blockchain.
Performance and case management systems
Performance management systems track employee performance based on company goals and milestones. They help evaluate which employees are underperforming and allow the company to make timely decisions to correct the problem. These systems help identify knowledge gaps and allow employees to grow in different ways. HR case management systems such as ServiceNow help HR function in a seamless way by creating catalogs of HR cases. They allow for the measurement of HR service efficiency.
Artificial intelligence
This is shaping HR by making it possible for HR departments to use AI software to pick out the best candidates based on any number of criteria. AI can be used to find incoherent aspects in applicants’ resumes, and it can also be used to evaluate applicant responses to find personality matches with the company work culture. On the other hand, AI can be used to create intelligent chatbots to help customers and employees with various processes. Most of the time, an AI program is used to guide new employees through the onboarding process, rather than having to devote added employee time to it.
As the ability of technology to perform more complicated tasks grows, so does the efficiency of HR teams. In the future, innovations will make it possible to select the best employees for a job, without being misled by false information or personality mismatches. This will also reduce the work that HR teams have to do painstakingly.
