New HR technologies, such as cloud computing, AI, and machine learning, are transforming organizations and creating a more sustainable, efficient, and participative workplace. HR investments have increased dramatically during the last two years, with venture capitalists spending more than $17 billion to HR technology (according to a ‘HR Executive’ report). Here are the top HR technology trends that HR leaders should be aware of.
Workplace digitalization, which began with the March 2020 lockdown, has transformed the business landscape to the point that face-to-face meetings are no longer required for seamless communication. Organisations are projected to increase their investments in workplace digitalization in 2024 and beyond.
Digital L&D
Employee learning and development (L&D) also accelerated during the lockdown. As digital learning becomes more widely accepted, 2024 will be remembered as a watershed moment in which gamification and virtual reality are integrated into the learning process. This is predicted to lead to increased employee engagement, motivation, and better learning outcomes. Furthermore, to meet the learning demands of remote workers, digital learning will be tailored to a greater extent via mobile and desktop applications.
Employee Self-Service
Employee self-service technology enables employees to undertake HR-related duties independently, such as updating personal information, reviewing pay statements, and requesting time off. It improves operational efficiency and lightens the HR effort.
AI and machine learning are already empowering employee self-service portals, and applications and chatbots may provide personalized advice and support to employees. Giving employees the flexibility to conduct their HR-related duties independently can help organizations become more agile and responsive to employee demands, eventually increasing employee satisfaction and engagement.