Is HRTech the New Buzzword?

With the on coming waves of technological invasion, Human Resources is certainly no exception. The talks of HRTech are having HR leaders and companies ready to jump in on the excitement. Undoubtedly with the integration and implementation of HRTech into the workflow does make the processes more seamless and the management of huge collections of personal data more plausible and secure. But how effective are these technologies and how much impact does it have?

HR processes involve a lot of stages before the end result finally bring in the revenues. From the head hunting to the selection, interview, recruitment, on-boarding process, scheduling, payroll and management of benefits and the lists are exhaustive. Software solutions such as the Human Resource Management System (HRMS) and Human Resource Information System (HRIS) can greatly relieve the burdens, keep everything organized and easily retrievable whenever needed. Another great decision that HRTech can offer is by outsourcing. Countless choices and offerings are made available by the increasing number of HR start-ups and enterprises covering all sorts of HR landscape. Workruit is a mobile app that makes it simpler for the job seekers to apply for jobs and for the HR to simplify the sorting and searching for extraordinaire talents. One HRTech platform worth botable is Hyreo, a great technology that can automate the entire HR cycle with algorithms that can perform resume matching, data aggregation techniques and a chatbot for extra AI-assistance. These are just two examples from a long list! Aside than software solutions, HR can look forward to AI into the near future. ServiceNow conducted a global survey and found that out of 350 HR leaders, 90% are looking in the positive direction of AI chatbots in recruiting and enhancing the level of employee service.

There are countless opportunities available for HR companies to explore and to not do so might pose as a disadvantage. In this growing trends and markets of HRTech, small and medium size businesses should seize the advantage as Google and Accel Partners, through their report, predicted that by 2020 SMB Software-as-a-service or SaaS will bloom in the global market and exceed the enterprise SaaS. By leveraging the HR solutions and technologies, SMBs can survive the competitions and surpass their expectations. There are more than enough reasons to support SMBs’ take up of HRTech into their tasks and practices. Flexibility, cost-reduction, scalability, cloud-based system and innovative dashboard – these are just some of the features that HRTech have to offer and its impacts can help growing companies in managing their own human resources with maximum efficiency.

References:
https://www.businessnewsdaily.com/9663-hr-tech-tools.html
https://www.google.com/amp/s/www.hrtechnologist.com/articles/performance-management-hcm/what-is-hr-technology/
https://www.blog.cake.hr/how-does-hr-tech-add-value-to-smb-companies
https://www.humanresourcesonline.net/top-5-technology-buzzwords-hr-professionals-should-know