Top 8 HRMS Trends To Look Out For In 2017 For Your Business
HRMS software is designed to streamline and automate a company’s Human Capital Management -HCM through one central database.
HRMS have been trying to address the dominant and changing talent war share in markets. Over the past few years creating an engaging experience for employees, fairly compensating the workforce, annual performance reviews, continuously developing skills and bridging the leadership gaps, the arrival of millennial generation as workforce and appointing temps, have all impacted the human resources policies of organizations.
They have influenced how companies recruit, retain, train and structure their workforce for future using intuitive technology and systems. However, the challenges are ever increasing with the dynamic business environment which requires changing the processes and systems to make it a seamless experience for the entire workforce.
Organizations need to build and host HRMS services with capabilities demanded by the current business environment with agile and scalable solutions.
Technology has moved from cloud to mobile, explosion in analytics and artificial intelligence and emergence of newer tools for HR professionals to make better human resources decisions.
Since people are the most valuable asset to any organization, it’s important to be updated with the time and add capabilities to the systems to address new the challenges. 2017 throws open a new set of threats that will need to be addressed by HR software. Especially, the human resource management systems for small businesses will have to build inherent capabilities to encounter the following eight technology trends that will shape the year ahead and beyond.
- HRMS Integrated Performance Management Systems
With the access to valuable data, organizations are taking smarter decisions to evaluate employee performance beyond their KRA’s and ratings. Performance management systems are becoming more data driven. However, there are no systems or tools available in the market to automate this system. If HRMS services can inculcate data capturing and analytics, it can further deliver more actionable information for companies to take data-driven employee decisions. Such systems will be able to manage performance by teams, allow dynamic team management, make goals and tracking system transparent, feature online surveys and integrate with other HR software to become a part of daily HR work.
- Real-Time Engagement Evaluation
Organizations have always focused on engaging or marketing to customers and build their loyalty towards the brand. The same phenomenon is relevant today with employees, to engage them positively and strengthen their commitment towards the organizations.
One of the recent surveys done by Deloitte says the 85% of executives consider employee engagement as one of the high priority within their organisations. One tool used by organizations to do this are employee engagement program.
However, instituting the same in an HRMS service will help is receiving regular feedbacks, conducting surveys or sentiment analysis. Not only have these tools become a necessity today, but they also help in understanding employees needs and integrate it with performance management system for succession planning and change management initiatives.
- Focus On People Analytics
Big data and analytics have opened up a new horizon for organizations. The same strides have been made by HRMS to disseminate people analytics. Over the years, organizations have matured from MIS and data warehousing systems or reports to advanced analytics and reporting dashboards to predictive models.
Various agencies are offering such tools which can be integrated with the traditional enterprise HR software and capture valuable and impactful data. New approaches to collecting feedback, identification of security leak, the area of stress, analysis of email content and how people communicate and more has been possible by capturing data.
It’s time for an organization to increase their focus and investments in the field of analytics.
- Maturation of traditional learning modules
Learning management systems are now being replaced by many new options. Products are being reinvented, the introduction of new releases, and tools which offer more engaging experience to employees for learning are being introduced.
Systems are being created to acquaint with and provide learning experience platforms where employees can go to browse and learn, consume video or activities based self-learning. Such platforms bring a social media like experience and have features for curation, recommended learning and data-driven recommendations.
- Changing Landscape Of Talent Acquisition
Small and medium businesses, as well as some of the large organizations, are using new and creative methodologies to identify and acquire talent. These include strategic tools which can be utilized in the dynamic business environment to hire thousands of individuals across the year. The tools help in quickly and efficiently identifying potential candidates. Various online tools have encompassed tools in sourcing, analytics, online interviewing, candidate scoring, relationship management and onboarding. Such systems can be connected to platforms like LinkedIn and other job boards, and store applicants information to be revisited year after year.
- Growth Of Temporary Workforce Management
Using temps. Or contingent employees have become a growing norm in the industry today. It works as a win-win situation for both the employers and the employees. It has become necessary for HRMS trends to manage such requirements in the systems apart from the regular full-time employees.
This requires integration with various freelancing platforms for identifying talent as per available schedule, recruiting them for the tasks and continuously communicating along with them. Such networks have now morphed from job networks to recruiting and skills management sites. It is important to start monitoring such sites on a regular basis to build a network of experts and contact workers.
- Adoption Of Team Management Tools
There are a plethora of options available in team and task management tools which are designed to facilitate seamless communication and simplify the process of tracking the tasks among groups. Though not all of such tools are classified as HRMS tools, however, they are slowly entering the HR software space to offer a seamless platform for employees to do their tasks.
Such tools are used to identify available positions in the company, learning, training, and development of employees. Such tools are also a shift towards integrating the functionality along with Outlook or workflow management tools that employees use regularly.
- Wealth Of Wellness Applications
Managing wellness and work-life balance for employees has become a priority at corporate offices to improve employee performance. Such applications can be used to boost employee productivity and well-being at the workspace. Such tools help in collecting information and provide employee feedback, plan activities and goals to improve the work environment. They provide insights into workers, nudges and provides advice to make work better and enhances the productivity to advance their careers. Integrating such tools with HRMS trends will allow an employee to engage with the organization positively as well as deliver excellent results at work.
Apart from the above Eight trends in HRMS, today technology is also moving towards AI, natural processing, and robotics process automation. Such tools can be used on various devices and support HR transactions to be redesigned to journey maps that can be automated for all employees. Such systems have helped organizations to dramatically reduce costs and improve the value of the best HR software or HRIS systems.
Almost every aspect of HRMS is expected to face disruption in coming times along with the convergence of technology, mobile applications, AI with employee engagement, culture, and productivity. The result will be new reinvested HR technology and set of activities that will help in scaling the workforce and businesses.
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