The HR technology industry will experience accelerated growth and development in 2020 as new entrants enter the market, companies shift to technology for more efficiency and productivity gains, and venture more capitalists remain enthralled by HR tech firms’ potential.
ESS & MSS Tools
HR functions have increasingly adopted technology platforms which include both self-service employee (ESS) and self-service manager (MSS) tools to make HR information more available.
But, in light of recent data and experiences showing pushback from line managers, some experts believe HR will begin to reconsider the use of those tools.
Artificial Intelligence (AI)
HR will continue to implement embedded AI and machine learning technologies as those systems grow and undergo more real-world testing. Up to 50 percent of organizations will have HR technology in the next 10 years that provides daily recommendations and insights for the workforce based on AI and machine learning.
While AI is used routinely today in recruiting, HR service delivery, and learning and growth, you can see a longer timeline for adoption, in which AI extends into new HR areas and is used as a standard practice, evolving as did HR cloud technologies, which took about a decade to mass adoption.
Specialized Tech Skills
When automation and digitalization begin to reshape the role of technology in human resource management, HR and learning organizations will need to develop more agile and efficient professional reskilling plans for workers — including educating HR personnel in data processing, AI, and other skills relevant to the technology.
Redesigning Of Work
Not only HR executives are concerned about the shortage of expertise, but they are also workers themselves. Only 1 in 5 employees felt they needed the training to prepare them for the future today. It’s troubling when you think of the mutual tension it generates in the labor force.
Human Capital Management (HCM) Solutions
While a growing amount of organizational research is being performed in flat organizational frameworks and teams, many strategies for managing human capital (HCM) have not been designed to sustain those frameworks.
When company strategies and teams become more flexible to keep up with frequent organizational change, HR technology also needs to evolve, including delivering more user-friendly and more productive experiences for employees. We assume these improvements would drive more HCM providers to provide better uptime and scalability of the network.
Data Privacy & Security
HR leaders and technology solutions will be playing a growing role in trying to strike the right balance between employee trust and data security. It is the duty of HR to ensure that the policies and development programs being used have the correct level of accountability, as well as the correct level of employee data security.