Human Resources And Payroll 2.0: Five Trends That Are Transforming The Industry
Multiple industries around the world have witnessed significant modernisation transformation in the last few years with the integration of new and advanced software. These technological developments are speeding up and facilitating processes and making them more insightful.
As new technology continues to reshape Human Resources (HR) management across industries. here are a few of the trends that are transforming HR and payroll:
The digital transformation of HR
HR’s digital push is two-fold. On the one hand, it has the challenge of transforming its operations to ensure they are innovative and adaptive; on the other, HR processes need to be modified to be more automated and data-driven. Such changes will only be successful if they are supported by colleagues at all levels of an organisation, right up to the C-suite.
Empowering employees
Using Employee Self Service (ESS) portals, staff can now manage many of their own HR processes such as applying for leave, managing expense claims and changing personal details such as banking and next-of-kin information,. This not only frees up HR professionals’ time, but allows it to be employed in areas that require more strategic thinking and human intervention. In addition, workflow processes are built into the system and provide for the scheduling and notification of tasks, security access, and the logging and recording of workflow processes.
To the Cloud
According to Deloitte’s 2018 HR Technology Disruptions report, only 39% of large companies and 49% of mid-sized companies are on the cloud, although that number is expected to rise in the coming years. While cloud-based solutions are not new, there has been an increase in their usage by HR departments, especially in the recruitment process.
If your HR department is not using cloud-based solutions, now is the time to make the switch to ensure that your company’s information is centralised, efficiently stored and easily retrievable.
With the implementation of cloud-based technology, it is no surprise that the requirement for data security has been amplified. Through the increased use of software encryption and cybersecurity measures, employees can be reassured of the protection of their sensitive data on the cloud.
Artificial Intelligence (AI)
AI continues to reinvent traditional HR functions through improvements in app-based capabilities, auto-generated information and machine learning. Organisations need to reconsider their structure in order to maximise the value of both employees and machines. According to Deloitte’s 2018 Global Human Capital Trends (The Rise of the Social Enterprise) report, 74.5% of people in the Middle East consider AI, robotics and automation as important.
We are already seeing automation replace manual tasks, relieve administrative burdens and streamline outdated processes. For example, automation is especially useful in eliminating repetitive, low-value tasks in order to make time for value-added work. In addition, automation can also be used to reduce bias through an algorithm-based assessment platform, resulting in a more diversified pool of candidates at the workplace.
AI technology has improved decision-making processes, employee experiences as well as task completion. We expect this trend will continue to accelerate and affect the HR and payroll industry in the years to come, especially with the use of virtual and augmented reality.
Mobile software optimisation
The growing shift towards the cloud has also resulted in an increased need for smart device applications to support the capabilities. Our mobile devices are used for almost everything and now HR managers are finding new ways for applications to support the same capabilities that a desktop does. In line with these cloud-based solutions, the best payroll software should be able to access all information on the go. Payroll management solutions have the advantage of being regularly upgraded, straightforward and easily accessible from any smart device.
