What are the Benefits of HR Technology?

This article/post is linked to a previous article/post on "How Technology is Transforming Human Resource Management (HRM)". It would be great if you could read it first. Click here for that article/post.

HR Technology has managed to shape the future of HR department in several important ways:

Better Employee Scheduling and Tracking

Figure 01

Simple things like overlapping leave requests can throw a company's productivity into a tailspin. HR software that is appropriate for the job allows HR teams to keep track of employee availability and adjust schedules as needed. This enables the company to run at maximum efficiency throughout the year. 
     

Easier Access to Crucial Information

Figure 02

One of the most important responsibilities of the HR department is to ensure that employees have timely access to important information. This increases transparency within the company and fosters a culture of trust, both of which are essential for employee productivity. HR technology can now be used to disseminate information in a timely and meaningful manner, ranging from Talent Management Software to AI-powered chat-bots.

Improved Talent Management

Figure 03

Employee retention and productivity are greatly aided by HR Tech software. Starting with HR technology-assisted appraisals. These appraisals allow you to keep track of important information about an employee's strengths, weaknesses, and areas for growth. Based on the appraisal results, AI-powered tools can use this data to recommend tailored learning programs for employees. This can assist employees in better planning their career paths and developing their skill sets.

In addition to AI, modern HR Performance Management platforms like Possible Works enable organizations to be more agile in how employee performance is evaluated on a continuous basis rather than as a once-a-year ritual. This goes a long way toward rehabilitating Performance Appraisals' bad reputation in the corporate world.

Given the plethora of HR tech software that businesses must deal with today, it is critical that they integrate with the existing HR Tech ecosystem and are simple to use. Possible Works, for example, offers one-click integration capabilities combined with a chat-based user interface to make everyday platform integration as simple as chatting with friends. These are necessary elements for your technology investments to yield results and provide value.

Cost Reduction

Figure 04

HR has always been a process-oriented department. The department has traditionally required a number of executives to complete repetitive tasks such as screening CVs, printing offer letters, and completing employee on boarding formalities. These tasks have been automated to a large extent thanks to HR Tech.

This means that a significant amount of employee man-hours can now be diverted to more strategic tasks. This includes brainstorming ideas for employee engagement, fostering a positive organizational culture, and focusing on attrition-reducing activities.

Proper and Secure Documentation

Figure 05

HR software gathers all important employee data and stores it in a centralized, cloud-based location. This ensures that data is accessible 24 hours a day, seven days a week, and that it is protected even in the event of a physical disaster, such as a natural disaster or a fire. The fact that all of the data is stored on cloud-based servers and is easily accessible ensures that paperwork is kept to a minimum. At the touch of a button, you can now access old documents, handbooks, and training manuals.

You can also store all of your employees' information in one place with modern HR software. This can be password-protected to add an extra layer of security while also protecting employee privacy. Today's HR software also allows you to set up access controls for this data, limiting access to those who need to see it within the company.

Conclusion

HR technology is no longer a choice or a possibility; it's a foregone conclusion. Because of the speed with which it is transforming all major HR functions — from recruitment to on boarding to employee retention — it will only grow in importance over time. In the long run, companies that can adapt and build a holistic, tech-powered HR department will naturally have the upper hand.

Also, Technology may be used for different purposes within particular HR functions—for recruitment and selection, performance evaluation, compensation and benefits, training and development, health and safety, employee relations and legal issues, and retention and work-life balance (Enshur, Nielson, & Grant-Vallone, 2002)



References 
  • Quirk, E. and &rarr;, V., 2022. 5 Benefits of HR Technology. [online] Best Talent Management Suites, Software, Vendors. Available at: <https://solutionsreview.com/talent-management/2018/11/13/5-benefits-of-hr-technology/> [Accessed 19 March 2022].

  • Oracle NetSuite. 2022. Top 11 Reasons to Use HR Software. [online] Available at: <https://www.netsuite.com/portal/resource/articles/human-resources/hr-software-benefits.shtml> [Accessed 19 March 2022].

  • Management, T., Benefits, H., Analytics, D., Engagement, E. and Connect, H., 2022. What are the benefits of digital HR? - HRD. [online] HRD. Available at: <https://www.hrdconnect.com/2020/01/17/what-are-the-benefits-of-digital-hr/> [Accessed 19 March 2022].

  • 2022. [online] Available at: <https://www.researchgate.net/publication/350134343_Impact_of_Technology_on_Human_Resource_Management> [Accessed 20 March 2022].

Comments

  1. FuardMBA24March 22, 2022 at 8:27 AM

    Good explanation.
    In this article you have clearly explained the benefits of hr software. All the information is in one article. We can clearly see the value of HR technology

    ReplyDelete
  2. Shiron NishanMarch 23, 2022 at 9:04 AM

    Ur presenting is superb and interesting to read. I can understand very well 🤩🤩

    ReplyDelete
  3. MafazMarch 23, 2022 at 9:17 PM

    Hi Tharindu

    Yes, I commented on your first article on HR Tech and this is even exciting that you have explored more into this topic. Good analysis on the advantages of adapting into new technology. Having everything in a centralized database allows easy analysis of performance of employees.

    ReplyDelete
  4. Vajira Rajapakse March 23, 2022 at 10:11 PM

    Good article & we can learn very valuable thought of this.

    ReplyDelete
  5. Rifkana mba 24th batchMarch 24, 2022 at 7:15 AM

    1st you have taken a good article for writing about the HR Technology, You have well explain about how to access the crucial information in the HR department. Also described about how to improve the talent Management. In addition how to reduce the cost in an organization. Can get an idea of the HR technology.

    ReplyDelete
  6. Uditha ArawpolaMarch 25, 2022 at 2:30 AM

    It's a well-written essay about how HRM can go forward with improved technologies. You have discussed HR softwares and how HR Technology has shaped the future of the HR department in numerous ways. Good job!!

    ReplyDelete
  7. ShashithaMBA24March 25, 2022 at 3:31 AM

    Interesting topic and well continuation of your previous artical of how technology is transforming HRM. Clearly discribes benifits of technology and advantages of using technologies in HRM important artical. Good luck..

    ReplyDelete
  8. Jaliya RajaguruMarch 26, 2022 at 12:08 PM

    Very good explanation. What are the main factors to be evaluated before implementing a HRM system?

    ReplyDelete
    Replies
    1. Tharindu L BandaraApril 3, 2022 at 4:32 AM

      I will answer your question in future posts and thanks for your valuable comment!

      Delete
  9. Roshan JayalathMarch 29, 2022 at 2:32 AM

    To be honest I didn't know the impact of HR technology on organization until I read this blog. Now I realized how ordinary HRM can be dramatically improved to professional HRM

    But also it is better I know the negative impact of HR technology.

    Thanks for opening my eyes

    ReplyDelete
    Replies
    1. Tharindu L BandaraApril 3, 2022 at 4:35 AM

      Sure, I will talk about the negative impact in a future post / article.

      Thanks for your valuable comment!

      Delete
    2. Tharindu L BandaraApril 9, 2022 at 9:27 AM

      The Issues / Problems / Negative Impacts with Technological Advancements in HR.

      https://tharindub-mba-24.blogspot.com/2022/04/the-issues-problems-negative-impact.html

      Delete
  10. Kawshi M. Perera ♥️April 3, 2022 at 4:38 AM

    It's a good essay regarding how HRM can advance with the help of new technology. You've talked about HR software and how technology has influenced the HR department's future in a variety of ways. Congratulations on your accomplishment!!

    ReplyDelete
  11. AparnaMBA2022April 10, 2022 at 1:14 AM

    this is a good article about HR technologies. in lot of government organizations they use manual systems for HRM. according to this explanation we can apply this technology for that organizations also. it will be better. in private scheme they already use these systems for there organizations and they have improve there performances by tracking the system. good work!

    ReplyDelete
    Replies
    1. Tharindu L BandaraApril 16, 2022 at 10:08 AM

      Thanks for your valuable comment!

      Delete
    2. Prageeth MBAApril 29, 2022 at 8:06 PM

      Idle Topic since we are not thinking about tool what we can use as new technologies. not only the hr we have to think all of the supportive department to enhance their productivity using technologies instead of focusing on one place. Good One !!!

      Delete
    3. Tharindu L BandaraMay 7, 2022 at 9:32 AM

      Hello, Thanks for your valuable comment!

      Delete
  12. Darshana UndugodageMay 7, 2022 at 6:35 AM

    Article explained the important of technological approach to the human resource management. Technology can be used to speed up the HR decision making process in the organization. Well done

    ReplyDelete

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